Hurst, Illinois Property Taxes
The median property tax rate in Hurst, IL is 2.08%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Hurst at $36,450, the typical annual property tax bill reaches $554, which is significantly lower than the national median of $2,690. Property taxes in Hurst 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 Hurst'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 Hurst 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
Hurst, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.08%
Estimate Property Tax Bill
$758
$741
Ownwell’s Hurst Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hurst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hurst 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 Hurst, Illinois
Property taxes in Hurst, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hurst is 2.08%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Hurst set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hurst 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 Hurst's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62949 zip code has both the highest and lowest median property tax rate of 2.08%. Understanding how these cities compare with Hurst provides valuable insights into the varying tax landscape across Williamson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hurst Tax Rate
2.08%
Average Williamson County Tax Rate
2.30%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hurst, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62949 | 0.75% | 1.27% | 2.08% | 2.52% | 2.52% |
Source: Ownwell
Property Tax Assessment Values Across Hurst, Illinois
In Hurst, 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 Williamson County Appraisal District 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 Hurst, 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. For instance, the zip code 62949 has the highest and lowest median tax bill at $554. Being aware of these valuation processes in Hurst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hurst Assessed Value
$36,450
Average Williamson County Assessed Value
$85,800
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hurst, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62949 | $4,446 | $21,420 | $36,450 | $53,550 | $82,194 |
Source: Ownwell
Property Tax Bills Across Hurst, Illinois
In Hurst, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the home's market value. Various factors, such as property size, location, and improvements, influence this assessed value. In Williamson County, the median home price is $36,450, and the property tax rate is applied to this value to determine the tax bill. Homeowners in Hurst can expect their tax bills to vary significantly. The 25th percentile tax bill is around $257, while the 75th percentile tax bill reaches $1,022. For those in the 90th percentile, tax bills can go up to $1,540. These figures illustrate the range of property tax burdens homeowners may face. Compared to the national median property tax rate of 0.99%, Hurst's property taxes can be relatively manageable, but they still represent a significant expense for homeowners, influencing overall housing affordability and financial planning.
Average Hurst Tax Bill
$554
Average Williamson County Tax Bill
$1,802
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Hurst, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62949 | $76 | $257 | $554 | $1,022 | $1,540 |
Source: Ownwell