Hardin, Illinois Property Taxes
The median property tax rate in Hardin, IL is 2.32%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Hardin, the typical annual property tax bill reaches $1,990, which is below the national median of $2,690. Property taxes in Hardin 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 Hardin'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 Hardin 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
Hardin, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.32%
Estimate Property Tax Bill
$2,250
$2,198
Ownwell’s Hardin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hardin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hardin 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 Hardin, Illinois
Property taxes in Hardin, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hardin is 2.32%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Hardin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hardin 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 Hardin's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62047 zip code has the highest median property tax rate of 2.32%, while the same 62047 zip code also has the lowest median tax rate of 2.32%. Understanding how these cities compare with Hardin provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hardin Tax Rate
2.32%
Average Calhoun County Tax Rate
2.36%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hardin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62047 | 1.29% | 1.94% | 2.32% | 2.53% | 2.53% |
Source: Ownwell
Property Tax Assessment Values Across Hardin, Illinois
In Hardin, 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 Calhoun 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 Hardin, 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 Hardin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Hardin are both $1,990, found in zip code 62047.
Average Hardin Assessed Value
$96,978
Average Calhoun County Assessed Value
$86,121
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hardin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62047 | $28,820 | $58,668 | $96,978 | $168,441 | $235,318 |
Source: Ownwell
Property Tax Bills Across Hardin, Illinois
In Hardin, located in Calhoun County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Hardin is $96,978, and homeowners can expect to pay a median property tax rate of 0.99%, which aligns with the national median property tax rate. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For instance, homeowners in the 25th percentile of tax bills pay around $1,121, while those in the 75th percentile face bills closer to $3,318. The 90th percentile sees tax bills as high as $5,381. The highest and lowest median tax bills in Hardin both stand at $1,990, indicating a consistent tax rate across the region. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, thereby enhancing the overall community quality.
Average Hardin Tax Bill
$1,990
Average Calhoun County Tax Bill
$1,736
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Hardin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62047 | $556 | $1,121 | $1,990 | $3,318 | $5,381 |
Source: Ownwell