Walnut Hill, Marion County, Illinois Property Taxes

Name: Property Tax Bills Across Walnut Hill, Marion County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Walnut Hill, IL effective property tax rate: 1.80%, 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: $76,323
Median annual Walnut Hill, IL tax bill: $1,187, $1,213 lower than the national median property tax bill of $2,400.

How are property taxes in Marion 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, Marion County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.8%

Estimate Property Tax Bill

$1,374

$1,275

Ownwell’s Walnut Hill Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Walnut Hill with just two data points. By entering your property's estimated assessed value, our calculator applies Walnut Hill’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Marion County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Walnut Hill, Marion County, Illinois

Local government entities set tax rates, which can vary widely within a state. Each county annually 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. In Walnut Hill, located in Marion County, Illinois, the property tax rate is notably higher than the national median of 1.02%. This reflects the county's budgetary needs and the total assessed value of property within its borders. Compared to the national median property tax bill of $2400, residents in Walnut Hill might experience a higher tax bill, emphasizing the importance of understanding local tax dynamics. It's crucial for property owners to be aware of these rates as they can significantly impact annual expenses. By comparing Walnut Hill’s effective property tax rate to other cities in Illinois and the median property tax rates in both Illinois and the U.S., property owners can better gauge their tax responsibilities and explore potential appeal or exemption opportunities.

Property Tax Rates Across Walnut Hill, Marion County, Illinois

Source: Ownwell

1.55%

2.04%

2.53%

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

1.80%

Median Effective Marion County Tax Rate

2.03%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Walnut Hill, Marion County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62893	0.61%	1.05%	1.80%	2.13%	2.30%

Source: Ownwell

Property Tax Assessment Values Across Walnut Hill, Marion County, Illinois

When examining property taxes in Walnut Hill, IL, 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 Marion County appraisal district 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 Marion County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 $76,323, with tax bills ranging significantly across the county. The zip code 62893 has the highest median home price at $76,323.

Property Tax Assessment Values Across Walnut Hill, Marion County, Illinois

Source: Ownwell

$24,930

$79,446

$133,962

Median Walnut Hill Market Value

$76,323

Median Marion County Market Value

$53,770

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Walnut Hill, Marion County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62893	$14,376	$29,550	$76,323	$174,480	$236,585

Source: Ownwell

Property Tax Bills Across Walnut Hill, Marion County, Illinois

In Walnut Hill, located in Marion County, Illinois, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the property's market value. For homeowners in Walnut Hill, the property tax bill can vary significantly, ranging from the 25th percentile at $319 to the 90th percentile at $5,120. The median home price here is $76,323, which influences the assessed value and, consequently, the tax bill. These tax bills are influenced by factors such as local government budgets and school district funding needs. Compared to the national median property tax bill of $2,400, Walnut Hill's taxes can be a financial burden for some homeowners. Ownwell offers a solution by providing property tax appeal services. Our team of experts reviews your property's assessed value and identifies opportunities for reductions, ensuring you pay only your fair share. By leveraging our expertise, homeowners in Walnut Hill can potentially lower their property tax bills and enjoy significant savings.

Property Tax Bills Across Walnut Hill, Marion County, Illinois

Source: Ownwell

$425

$1,151

$1,876

Median Walnut Hill Tax Bill

$1,187

Median Marion County Tax Bill

$1,004

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Walnut Hill, Marion County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62893	$99	$319	$1,187	$3,256	$5,120

Source: Ownwell