Hettick, Illinois Property Taxes
The median property tax rate in Hettick, IL is 1.80%, notably higher than the national median of 0.99% but lower than the Illinois state median of 2.35%. With a median home value of $55,024 in Hettick, the typical annual property tax bill amounts to $941, which is significantly below the national median of $2,690. Property taxes here are based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hettick's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hettick or another part of Macoupin County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hettick, 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 Hettick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hettick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hettick 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 Hettick, Illinois
Property taxes in Hettick, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hettick is 1.80%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Hettick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hettick 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 Hettick's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62649 zip code has the highest median property tax rate of 1.80%, while the same zip code also has the lowest median tax rate of 1.80%. Understanding how these cities compare with Hettick provides valuable insights into the varying tax landscape across Macoupin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hettick Tax Rate
1.80%
Average Macoupin County Tax Rate
1.93%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hettick, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62649 | 1.05% | 1.46% | 1.80% | 2.05% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Hettick, Illinois
In Hettick, 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 Macoupin County Assessment Office 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 Hettick, 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 Hettick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $941, found in the 62649 zip code.
Average Hettick Assessed Value
$55,024
Average Macoupin County Assessed Value
$80,204
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hettick, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62649 | $12,267 | $22,905 | $55,024 | $99,576 | $169,965 |
Source: Ownwell
Property Tax Bills Across Hettick, Illinois
In Hettick, located in Macoupin County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $55,024, the property tax rate in Hettick is relatively modest compared to the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Hettick typically see a tax bill ranging from $359 at the 25th percentile to $2,796 at the 90th percentile. This variation can significantly impact homeowners' budgets, making it crucial to understand how these taxes are calculated. The highest and lowest median tax bills in the area both stand at $941, highlighting a consistent tax rate within the specific zip code 62649. Understanding these factors helps homeowners anticipate and manage their annual property tax obligations.
Average Hettick Tax Bill
$941
Average Macoupin County Tax Bill
$1,490
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Hettick, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62649 | $170 | $359 | $941 | $1,507 | $2,796 |
Source: Ownwell