Kinderhook, Illinois Property Taxes
The median property tax rate in Kinderhook, IL is 1.87%, notably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Kinderhook being $66,810, the typical annual property tax bill reaches $1,169, which is below the national median of $2,690. Property taxes in Kinderhook are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Kinderhook'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 Kinderhook or another part of Pike County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kinderhook, 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 Kinderhook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kinderhook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kinderhook 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 Kinderhook, Illinois
Property taxes in Kinderhook, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kinderhook is 1.87%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Kinderhook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kinderhook 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 Kinderhook's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62345 has the highest median property tax rate of 1.87%, while it also has the lowest median tax rate of 1.87%. Understanding how these cities compare with Kinderhook provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kinderhook Tax Rate
1.87%
Average Pike County Tax Rate
1.93%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kinderhook, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62345 | 0.77% | 1.28% | 1.87% | 2.47% | 2.55% |
Source: Ownwell
Property Tax Assessment Values Across Kinderhook, Illinois
In Kinderhook, 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 Pike 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 Kinderhook, 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 Kinderhook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1169 in the 62345 zip code, while the lowest is also $1169 in the same zip code.
Average Kinderhook Assessed Value
$66,810
Average Pike County Assessed Value
$72,180
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kinderhook, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62345 | $21,585 | $41,572 | $66,810 | $101,918 | $167,385 |
Source: Ownwell
Property Tax Bills Across Kinderhook, Illinois
In Kinderhook, property tax bills are determined based on the assessed value of a home, which is derived from the market value. The median home price in Kinderhook is $66,810. The local tax rate is applied to this assessed value to calculate the annual tax bill. For instance, tax bills in Kinderhook range significantly, with the 25th percentile at $520 and the 75th percentile at $2,028, highlighting the variability in property values and tax rates within the area. The highest median tax bill in the region is $1,169, found in the 62345 ZIP code. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. These taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting homeowners. Compared to the national median property tax rate of 0.99%, Kinderhook's rates result in a wide range of tax bills, reflecting the diverse property values and local tax policies. This variability can significantly affect homeowners' annual financial planning and overall cost of living.
Average Kinderhook Tax Bill
$1,169
Average Pike County Tax Bill
$1,317
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Kinderhook, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62345 | $250 | $520 | $1,169 | $2,028 | $3,734 |
Source: Ownwell