Kingston, Illinois Property Taxes
The median property tax rate in Kingston, IL is 2.53%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Kingston, the typical annual property tax bill reaches $3,764, exceeding the national median of $2,690. Property taxes in Kingston 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 Kingston'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 Kingston 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
Kingston, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.53%
Estimate Property Tax Bill
$3,975
$3,689
Ownwell’s Kingston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kingston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kingston 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 Kingston, Illinois
Property taxes in Kingston, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingston is 2.53%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Kingston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kingston 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 Kingston's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 60145 has the highest median property tax rate of 2.53%, while the same zip code also has the lowest median tax rate of 2.53%. Understanding how these cities compare with Kingston provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kingston Tax Rate
2.53%
Average Boone County Tax Rate
2.69%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kingston, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60145 | 2.34% | 2.43% | 2.53% | 2.76% | 2.76% |
Source: Ownwell
Property Tax Assessment Values Across Kingston, Illinois
In Kingston, 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 local 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 Kingston, 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 Kingston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Kingston is $3,764 in the zip code 60145, which is also the lowest median tax bill. The national median property tax rate stands at 0.99%, making it essential for property owners to stay informed and proactive.
Average Kingston Assessed Value
$157,110
Average Boone County Assessed Value
$166,186
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kingston, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60145 | $77,657 | $141,942 | $157,110 | $211,749 | $248,355 |
Source: Ownwell
Property Tax Bills Across Kingston, Illinois
In Kingston, Boone County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Kingston is $157,110, and the property tax rate is determined by local taxing authorities. Homeowners can expect a tax bill that reflects this value, with the 25th percentile paying around $3,433 annually, while those in the 75th percentile see bills closer to $5,326. At the 90th percentile, tax bills can reach up to $6,353. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. For example, properties in the zip code 60145 have a median tax bill of $3,764, which is the highest in the area. These taxes fund essential public services like schools, infrastructure, and emergency services, impacting homeowners by contributing to community development and property value stability. Comparatively, the national median property tax rate is 0.99%, making Kingston's rates relatively high, which can be a significant consideration for current and prospective homeowners.
Average Kingston Tax Bill
$3,764
Average Boone County Tax Bill
$4,339
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingston, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60145 | $2,005 | $3,433 | $3,764 | $5,326 | $6,353 |
Source: Ownwell