Union Hill, Illinois Property Taxes
The median property tax rate in Union Hill, Illinois is 2.77%, significantly higher than both the national median of 0.99% and Illinois' state median of 2.35%. With the median home value in Union Hill, the typical annual property tax bill reaches $2,757, which is just shy of the national median of $2,690. Property taxes in Union Hill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Union Hill'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 Union Hill or another part of Kankakee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Union Hill, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Union Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Union Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Union Hill 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 Union Hill, Illinois
Property taxes in Union Hill, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Union Hill is 2.77%, significantly higher than the U.S. national median of 0.99%. Local government entities within Union Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Union Hill 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 Union Hill's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60969 zip code has both the highest and lowest median property tax rate of 2.77%. Understanding how these cities compare with Union Hill provides valuable insights into the varying tax landscape across Kankakee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Union Hill Tax Rate
2.77%
Average Kankakee County Tax Rate
3.07%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Union Hill, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60969 | 2.72% | 2.72% | 2.77% | 4.32% | 7.02% |
Source: Ownwell
Property Tax Assessment Values Across Union Hill, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Union Hill, Illinois. The market value is the price a willing buyer would pay a willing seller in an open market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Kankakee 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. In Union Hill, 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. With a median home price of $68,216, understanding these valuation concepts helps property owners navigate their tax responsibilities and comprehend how their property taxes are determined. The highest median tax bill in Union Hill is $2,757 in zip code 60969, and the lowest is also $2,757 in the same zip code. Awareness of these processes can help identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Union Hill Assessed Value
$68,216
Average Kankakee County Assessed Value
$137,616
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Union Hill, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60969 | $37,067 | $41,534 | $68,216 | $173,558 | $319,616 |
Source: Ownwell
Property Tax Bills Across Union Hill, Illinois
In Union Hill, located in Kankakee County, Illinois, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price in Union Hill is $68,216. Property taxes are then applied to this assessed value using the local tax rate. Several factors influence the final tax bill, including the property's market value, any applicable exemptions, and the specific tax rate set by local government entities. Homeowners in Union Hill can expect a range of property tax bills. For instance, the 25th percentile tax bill is $2,181, while the 75th percentile tax bill rises to $5,193. At the 90th percentile, the tax bill can reach as high as $9,131. These figures highlight the variability in property tax obligations, which can significantly impact homeowners' finances. Compared to the national median property tax rate of 0.99%, the property tax rates in Union Hill can be relatively high, underscoring the importance of understanding local tax assessments and potential exemptions.
Average Union Hill Tax Bill
$2,757
Average Kankakee County Tax Bill
$4,151
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Union Hill, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60969 | $1,590 | $2,181 | $2,757 | $5,193 | $9,131 |
Source: Ownwell