Du Quoin, Illinois Property Taxes
The median property tax rate in Du Quoin, IL is 1.89%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Du Quoin at $76,516, the typical annual property tax bill reaches $1,462, which is below the national median of $2,690. Property taxes in Du Quoin are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Du Quoin's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Du Quoin or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Du Quoin, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s DU QUOIN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DU QUOIN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DU QUOIN to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Du Quoin, Illinois
Property taxes in Du Quoin, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Du Quoin is 1.89%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Du Quoin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Du Quoin estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Du Quoin's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62832 zip code has the highest median property tax rate of 1.89%, while the 62832 zip code also has the lowest median tax rate of 1.89%. Understanding how these cities compare with Du Quoin provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Du Quoin Tax Rate
1.89%
Average Perry County Tax Rate
1.89%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Du Quoin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62832 | 0.85% | 1.45% | 1.89% | 2.25% | 2.56% |
Source: Ownwell
Property Tax Assessment Values Across Du Quoin, Illinois
In Du Quoin, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Perry County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Du Quoin, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Du Quoin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Du Quoin is $76,516, with tax bills ranging from $747 at the 25th percentile to $3,701 at the 90th percentile. The highest and lowest median tax bill both stand at $1,462 in the 62832 zip code.
Average Du Quoin Assessed Value
$76,516
Average Perry County Assessed Value
$82,294
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Du Quoin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62832 | $30,810 | $48,977 | $76,516 | $117,968 | $167,949 |
Source: Ownwell
Property Tax Bills Across Du Quoin, Illinois
In Du Quoin, located in Perry County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. For example, with a median home price of $76,516, the assessed value would be a fraction of this amount. The property tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including property characteristics, local tax rates, and any applicable exemptions. Homeowners in Du Quoin can expect tax bills that vary widely; the 25th percentile tax bill is around $747, while those in the 75th percentile see bills closer to $2,460. At the 90th percentile, tax bills can reach up to $3,701. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Du Quoin Tax Bill
$1,462
Average Perry County Tax Bill
$1,554
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Du Quoin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62832 | $336 | $747 | $1,462 | $2,460 | $3,701 |
Source: Ownwell