Hillsdale, Illinois Property Taxes
The median property tax rate in Hillsdale, IL is 2.82%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Hillsdale at $139,293, the typical annual property tax bill reaches $3,839, exceeding the national median of $2,690. Property taxes in Hillsdale 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 Hillsdale'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 Hillsdale 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
Hillsdale, 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 Hillsdale Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hillsdale with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Hillsdale to provide an accurate property tax bill estimate. This valuable tool offers clarity on potential tax obligations. For those interested in detailed neighborhood trends, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Hillsdale, Illinois
Property taxes in Hillsdale, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsdale is 2.82%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Hillsdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hillsdale 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 Hillsdale's effective property tax rate to other counties in Illinois and the national median. For comparison, the 61257 zip code has the highest median property tax rate of 2.82%, while the same zip code also has the lowest median tax rate of 2.82%. Understanding how these cities compare with Hillsdale provides valuable insights into the varying tax landscape across Rock Island County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hillsdale Tax Rate
2.82%
Average Rock Island County Tax Rate
2.90%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hillsdale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61257 | 2.15% | 2.44% | 2.82% | 3.09% | 3.36% |
Source: Ownwell
Property Tax Assessment Values Across Hillsdale, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hillsdale, Illinois. 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 Rock Island 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 Hillsdale, 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. The median home price in Hillsdale is $139,293, with the 25th percentile tax bill at $2,950 and the 75th percentile tax bill at $5,858. The 90th percentile tax bill reaches up to $7,455. Notably, the highest and lowest median tax bills are both $3,839, found in the 61257 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, and apply for exemptions to manage the tax burden effectively.
Average Hillsdale Assessed Value
$139,293
Average Rock Island County Assessed Value
$104,406
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hillsdale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61257 | $67,481 | $106,449 | $139,293 | $184,083 | $243,400 |
Source: Ownwell
Property Tax Bills Across Hillsdale, Illinois
In Hillsdale, Rock Island County, IL, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the local assessor and typically represents a percentage of the property's market value. Factors such as property size, location, and condition are considered during this assessment. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For homeowners in Hillsdale, the annual property tax bill can vary significantly. For instance, the 25th percentile tax bill is around $2,950, while the 75th percentile reaches $5,858, and the 90th percentile can go up to $7,455. These figures highlight the range of property taxes that residents might expect to pay, depending on their property's assessed value and specific characteristics. Compared to the national median property tax rate of 0.99%, Hillsdale's property tax rates can result in considerably higher tax bills, impacting homeowners' annual financial planning and overall housing costs.
Average Hillsdale Tax Bill
$3,839
Average Rock Island County Tax Bill
$2,928
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Hillsdale, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61257 | $1,573 | $2,950 | $3,839 | $5,858 | $7,455 |
Source: Ownwell