Huntsville, Illinois Property Taxes
The median property tax rate in Huntsville, Illinois is 2.22%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Huntsville, the typical annual property tax bill reaches $1,770, which is still below the national median of $2,690. Property taxes in Huntsville 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 Huntsville'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 Huntsville or another part of Schuyler County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Huntsville, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.22%
Estimate Property Tax Bill
$1,242
$1,213
Ownwell’s Huntsville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Huntsville with just two data points. By inputting your property's estimated assessed value, the calculator utilizes the median tax rate in Huntsville to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in exploring trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by Schuyler County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Huntsville, Illinois
Property taxes in Huntsville, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huntsville is 2.22%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Huntsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huntsville 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 Huntsville's effective property tax rate to other counties in Illinois and the national median. For comparison, the 62344 zip code has the highest median property tax rate of 2.22%, while the 62344 zip code also has the lowest median tax rate of 2.22%. Understanding how these cities compare with Huntsville provides valuable insights into the varying tax landscape across Schuyler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Huntsville Tax Rate
2.22%
Average Schuyler County Tax Rate
2.25%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huntsville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62344 | 0.82% | 1.69% | 2.22% | 2.54% | 2.64% |
Source: Ownwell
Property Tax Assessment Values Across Huntsville, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Huntsville, Illinois. 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 Schuyler 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 Huntsville, 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, the median home price is $55,928, with tax bills ranging from $259 at the 25th percentile to $2,967 at the 90th percentile. The highest and lowest median tax bills are both found in zip code 62344, at $1,770. 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 Huntsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Huntsville Assessed Value
$55,928
Average Schuyler County Assessed Value
$67,204
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Huntsville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62344 | $10,134 | $18,093 | $55,928 | $111,515 | $135,288 |
Source: Ownwell
Property Tax Bills Across Huntsville, Illinois
Property tax bills in Huntsville, Schuyler County, IL, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $55,928, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Factors such as property location, improvements, and local government budgets influence the final tax amount. In Huntsville, the 25th percentile tax bill is around $259, while the 75th percentile reaches up to $2,605, and the 90th percentile can go as high as $2,967. These figures show a significant range, reflecting different property values and local tax rates within the area. Compared to the national median property tax rate of 0.99%, Huntsville's tax bills can vary considerably, impacting homeowners differently based on their property's assessed value and the local tax rate applied. This variability underscores the importance of understanding local property tax assessments and potential exemptions.
Average Huntsville Tax Bill
$1,770
Average Schuyler County Tax Bill
$1,400
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Huntsville, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62344 | $115 | $259 | $1,770 | $2,605 | $2,967 |
Source: Ownwell