West Union, Illinois Property Taxes
The median property tax rate in West Union, IL is 2.03%, which is considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value in West Union of $46,682, the typical annual property tax bill reaches $866, falling below the national median of $2,690. Property taxes in West Union are calculated based on the assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding West Union'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 West Union or another part of Clark County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
West Union, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.03%
Estimate Property Tax Bill
$948
$879
Ownwell’s West Union Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Union with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Union 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 West Union, Illinois
Property taxes in West Union, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Union is 2.03%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within West Union set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Union 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 West Union's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62477 zip code has the highest median property tax rate of 2.03%, while the same zip code also has the lowest median tax rate of 2.03%. Understanding how these cities compare with West Union provides valuable insights into the varying tax landscape across Clark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Union Tax Rate
2.03%
Average Clark County Tax Rate
2.09%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Union, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62477 | 0.93% | 1.51% | 2.03% | 2.41% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across West Union, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in West Union, 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 Clark 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. Assessment notices in West Union 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 West Union is $46,682, with tax bills ranging from $293 at the 25th percentile to $3,031 at the 90th percentile. The highest and lowest median tax bills in the area are both $866, found in the zip code 62477. By understanding these valuation processes, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, or apply for exemptions to effectively manage their tax burden.
Average West Union Assessed Value
$46,682
Average Clark County Assessed Value
$71,601
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across West Union, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62477 | $5,731 | $19,124 | $46,682 | $87,133 | $137,284 |
Source: Ownwell
Property Tax Bills Across West Union, Illinois
In West Union, located in Clark County, IL, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate. Homeowners in West Union experience a range of property tax bills, influenced by various factors such as property size, location, and local government budgets. For instance, the median home price in West Union is $46,682, and property tax bills can vary significantly. The tax bill at the 25th percentile is $293, while at the 75th percentile, it rises to $1,851. At the 90th percentile, homeowners might pay as much as $3,031. The highest and lowest median tax bills in the area are both $866, indicating a degree of uniformity in certain neighborhoods. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, homeowners in West Union may find their rates relatively manageable, depending on their property's assessed value and specific circumstances.
Average West Union Tax Bill
$866
Average Clark County Tax Bill
$1,431
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across West Union, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62477 | $104 | $293 | $866 | $1,851 | $3,031 |
Source: Ownwell