Hoffman, Clinton County, Illinois Property Taxes
Median HOFFMAN, IL effective property tax rate: 1.76%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median HOFFMAN, IL home value: $98,640
Median annual HOFFMAN, IL tax bill: $1,695, $705 lower than the national median property tax bill of $2,400.
How are property taxes in Clinton calculated?
Property taxes in HOFFMAN, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding HOFFMAN’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in HOFFMAN, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hoffman, Clinton County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.76%
Estimate Property Tax Bill
$1,736
$1,611
Property Tax Rates Across Hoffman, Clinton County, Illinois
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.
Hoffman in Clinton County, IL, has an effective property tax rate that you can compare to other cities in Illinois and the median property tax rates in Illinois and the U.S. With Illinois having a median property tax rate of 1.76%, it stands above the national median of 1.02%. This highlights the importance of understanding how property taxes in your area compare to state and national figures. By staying informed, homeowners in Hoffman can make strategic decisions about property tax appeals and exemptions, potentially leading to significant savings. Understanding these nuances is crucial for maximizing financial benefits and ensuring you're not overpaying on property taxes.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Hoffman Taxx Rate
1.76%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Clinton County Taxx Rate
2.02%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
0.99%
Property Tax Rates Across Hoffman, Clinton County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62250 | 1.02% | 1.53% | 1.76% | 1.90% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Hoffman, Clinton County, Illinois
When examining property taxes in Hoffman, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Clinton County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices: In Clinton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Hoffman. For example, the median home price in Hoffman is $98,640, with tax bills ranging significantly across the county. Zip code 62250 has the highest median home price at $98,640.
Property Tax Assessment Values Across Hoffman, Clinton County, Illinois
Source: Ownwell
$37,368
$118,989
$200,610
Median Hoffman Market Value
$98,640
Median Clinton County Market Value
$140,970
Median Illinois Market Value
$194,700
Median United States Market Value
$244,900
Property Tax Assessment Values Across Hoffman, Clinton County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62250 | $39,807 | $74,040 | $98,640 | $130,342 | $152,115 |
Source: Ownwell
Property Tax Bills Across Hoffman, Clinton County, Illinois
In Hoffman, located in Clinton County, IL, property tax bills are determined by assessing the market value of a home and applying the local tax rate. With a median home price of $98,640, the property tax rate in this area can significantly impact homeowners. The median tax bill in Hoffman is $1,695, which is below the national median of $2,400, making it relatively affordable. However, this still represents a considerable expense for homeowners, especially when compared to the national median property tax rate of 1.02%.
Factors influencing the tax bill include the assessed value of the property and the specific tax rate set by local authorities. Homeowners in Hoffman may find their tax bills ranging from the 25th percentile at $1,111 to the 90th percentile at $2,940, indicating a wide variation based on property value and local levies. Ownwell offers a valuable service by helping homeowners appeal their property tax assessments and apply for exemptions, potentially lowering their tax burden and ensuring they are not overpaying.
Median Hoffman Tax Bill
$1,695
Median Clinton County Tax Bill
$2,760
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Hoffman, Clinton County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62250 | $414 | $1,111 | $1,695 | $2,339 | $2,940 |
Source: Ownwell