Walnut Hill, Jefferson County, Illinois Property Taxes
Median WALNUT HILL, IL effective property tax rate: 1.95%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median WALNUT HILL, IL home value: $68,127
Median annual WALNUT HILL, IL tax bill: $1,173, $1,227 lower than the national median property tax bill of $2,400.
How are property taxes in Jefferson calculated?
Property taxes in WALNUT HILL, 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 WALNUT HILL’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in WALNUT HILL, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Walnut Hill, Jefferson County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.95%
Estimate Property Tax Bill
$1,328
$1,233
Property Tax Rates Across Walnut Hill, Jefferson County, Illinois
Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Walnut Hill’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
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 Walnut Hill Tax Rate
1.95%
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 Jefferson County Tax Rate
2.20%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Walnut Hill, Jefferson County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62893 | 1.08% | 1.43% | 1.95% | 2.25% | 2.51% |
Source: Ownwell
Property Tax Assessment Values Across Walnut Hill, Jefferson County, Illinois
When examining property taxes in Walnut Hill, Illinois, 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 Jefferson County Assessor's Office 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.
In Jefferson 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 Walnut Hill. For example, the median home price in Walnut Hill is $68,127, with tax bills ranging significantly across the county. Zip code 62893 has the highest median home price at $68,127.
Property Tax Assessment Values Across Walnut Hill, Jefferson County, Illinois
Source: Ownwell
$43,035
$75,082
$107,128
Median Walnut Hill Market Value
$68,127
Median Jefferson County Market Value
$61,827
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Walnut Hill, Jefferson County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62893 | $13,461 | $30,166 | $68,127 | $124,542 | $185,676 |
Source: Ownwell
Property Tax Bills Across Walnut Hill, Jefferson County, Illinois
In Walnut Hill, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value, and the tax rate is applied to this assessed value. In Jefferson County, the median property tax bill is $1,173, which is lower than the national median of $2,400. Homeowners in Walnut Hill can expect their tax bills to vary, with the 25th percentile at $579 and the 75th percentile at $2,464. Factors such as changes in market conditions and local government budgets can also influence tax bills, impacting homeowners' financial planning.
Ownwell offers services that can help homeowners in Walnut Hill reduce their property tax bills. By providing expert analysis and representation, Ownwell identifies potential savings and assists in appealing any discrepancies in assessed values. This can lead to significant savings, easing the financial burden on homeowners. With Ownwell's support, homeowners can ensure they are not overpaying on their property taxes.
Median Walnut Hill Tax Bill
$1,173
Median Jefferson County Tax Bill
$1,229
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Walnut Hill, Jefferson County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62893 | $228 | $579 | $1,173 | $2,464 | $3,705 |
Source: Ownwell