Du Quoin, Illinois Property Taxes
The median property tax rate in Du Quoin, IL is 1.98%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Du Quoin at $83,337, the typical annual property tax bill reaches $1,550, exceeding the national median of $2,690. Property taxes in Du Quoin 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 Du Quoin'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 Du Quoin 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
Du Quoin, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.98%
Estimate Property Tax Bill
$1,650
$1,612
Ownwell’s Du Quoin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Du Quoin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Du Quoin 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 Du Quoin, Illinois
Property taxes in Du Quoin, Illinois, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Du Quoin is 1.98%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Du Quoin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Du Quoin 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 Du Quoin's effective property tax rate to other counties in Illinois and the national median. For comparison, the zip code 62832 has both the highest and lowest median property tax rate of 1.98%. Understanding how these cities compare with Du Quoin provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Du Quoin Tax Rate
1.98%
Average Jackson County Tax Rate
2.84%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Du Quoin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62832 | 0.95% | 1.74% | 1.98% | 2.35% | 2.92% |
Source: Ownwell
Property Tax Assessment Values Across Du Quoin, Illinois
In Du Quoin, 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 Jackson 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 Du Quoin, 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. For example, in Du Quoin, the median home price is $83,337, with tax bills ranging from $997 at the 25th percentile to $3,591 at the 90th percentile. 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 Du Quoin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Du Quoin Assessed Value
$83,337
Average Jackson County Assessed Value
$84,759
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Du Quoin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62832 | $19,548 | $46,689 | $83,337 | $132,711 | $158,595 |
Source: Ownwell
Property Tax Bills Across Du Quoin, Illinois
In Du Quoin, located in Jackson County, IL, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the property's market value, determined by the county assessor. For instance, if the median home price is $83,337, the assessed value would be a fraction of this amount, influenced by the state's assessment ratio. Local tax rates, set by taxing authorities, are then applied to the assessed value. For Du Quoin, the property tax rate is a significant factor, as it can vary widely within the region. The tax bill can range significantly, with the 25th percentile paying around $997, while those in the 75th percentile face bills up to $2,746. The highest tax bills, seen in the 90th percentile, can reach $3,591. These variations impact homeowners differently, with higher property taxes potentially affecting affordability and overall financial planning. Comparatively, the national median property tax rate is 0.99%, highlighting the regional differences in tax burdens.
Average Du Quoin Tax Bill
$1,550
Average Jackson County Tax Bill
$2,391
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Du Quoin, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62832 | $387 | $997 | $1,550 | $2,746 | $3,591 |
Source: Ownwell