Kingston, Illinois Property Taxes
The median property tax rate in Kingston, IL is 2.73%, 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 at $202,298, the typical annual property tax bill reaches $5,467, 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 DeKalb County, 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
2.73%
Estimate Property Tax Bill
$5,523
$5,397
Ownwell’s Kingston Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating 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, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingston is 2.73%, 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 60145 zip code has the highest median property tax rate of 2.73%, while the same zip code also has the lowest median tax rate of 2.73%. Understanding how these cities compare with Kingston provides valuable insights into the varying tax landscape across DeKalb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kingston Tax Rate
2.73%
Average Dekalb County Tax Rate
2.86%
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 | 2.33% | 2.55% | 2.73% | 2.94% | 3.36% |
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 DeKalb 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 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 zip code 60145 has the highest median tax bill at $5,467, which aligns with the median home price of $202,298.
Average Kingston Assessed Value
$202,298
Average Dekalb County Assessed Value
$185,016
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 | $111,272 | $151,760 | $202,298 | $267,334 | $323,698 |
Source: Ownwell
Property Tax Bills Across Kingston, Illinois
Property tax bills in Kingston, DeKalb County, IL, are primarily determined by the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value of the home, which is then multiplied by the local tax rate to calculate the tax bill. For instance, with a median home price of $202,298, homeowners can expect varied tax bills depending on their property's assessed value and specific circumstances. In Kingston, the tax bill can range significantly. At the 25th percentile, homeowners might pay around $4,020, while those at the 75th percentile could see bills as high as $7,230. For the top 10% of properties, tax bills can reach up to $9,079. These figures highlight the substantial impact property taxes can have on homeowners, especially when compared to the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners to anticipate their financial obligations and plan accordingly.
Average Kingston Tax Bill
$5,467
Average Dekalb County Tax Bill
$5,206
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 | $3,022 | $4,020 | $5,467 | $7,230 | $9,079 |
Source: Ownwell