Freeman Spur, Williamson County, Illinois Property Taxes

Name: Property Tax Bills Across Freeman Spur, Williamson County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Freeman Spur, IL effective property tax rate: 1.99%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Freeman Spur, IL home value: $31,230
Median annual Freeman Spur, IL tax bill: $474, $1,926 lower than the national median property tax bill of $2,400.

How are property taxes in Williamson calculated?

Property taxes in Freeman Spur, 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 Freeman Spur’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Freeman Spur, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Freeman Spur, Williamson County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.99%

Estimate Property Tax Bill

$621

$577

Ownwell’s Freeman Spur Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Freeman Spur with just two data points. By entering your property's estimated assessed value, our calculator applies Freeman Spur’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 Williamson County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Freeman Spur, Williamson County, Illinois

Local government entities set tax rates, which can vary widely within a state. 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 Freeman Spur’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Freeman Spur in Williamson County, Illinois, has a median property tax rate of 1.99%, which is significantly higher than the national median of 1.02%. This places Freeman Spur among the areas with the highest property tax rates in the state. Despite Illinois having varied tax rates across different regions, Freeman Spur's rate stands out. Understanding these differences can help homeowners make informed decisions about property investments and tax appeals. If you're considering a property in Freeman Spur or already own one, being aware of these rates is crucial for financial planning and potential tax savings.

Property Tax Rates Across Freeman Spur, Williamson County, Illinois

Source: Ownwell

1.88%

2.24%

2.59%

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 Freeman Spur Tax Rate

1.99%

Median Effective Williamson County Tax Rate

2.30%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Freeman Spur, Williamson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62841	0.76%	1.29%	1.99%	2.60%	2.60%

Source: Ownwell

Property Tax Assessment Values Across Freeman Spur, Williamson County, Illinois

When examining property taxes in Freeman Spur, 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 Williamson 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.

Assessment notices: In Williamson 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 Freeman Spur.

For example, the median home price in Freeman Spur is $31,230, with tax bills ranging significantly across the county. Zip code 62841 has the highest median home price at $31,230.

Property Tax Assessment Values Across Freeman Spur, Williamson County, Illinois

Source: Ownwell

$23,550

$71,490

$119,430

Median Freeman Spur Market Value

$31,230

Median Williamson County Market Value

$85,800

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Freeman Spur, Williamson County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62841	$4,257	$15,690	$31,230	$54,712	$87,144

Source: Ownwell

Property Tax Bills Across Freeman Spur, Williamson County, Illinois

In Freeman Spur, located in Williamson County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to calculate the property tax bill. Factors such as local government budgets and school funding requirements influence the tax rate. With a median home price of $31,230, homeowners in Freeman Spur experience varying tax bills. The 25th percentile tax bill is $222, while the 75th percentile reaches $965, and the 90th percentile can be as high as $1,927. Compared to the national median property tax bill of $2,400, Freeman Spur residents generally pay less. However, homeowners can still benefit from reducing their tax burden. Ownwell assists by identifying potential savings through appeals and exemptions, ensuring homeowners pay only what is necessary. By leveraging local expertise, Ownwell helps homeowners achieve significant savings on their property tax bills.

Property Tax Bills Across Freeman Spur, Williamson County, Illinois

Source: Ownwell

$345

$1,478

$2,611

Median Freeman Spur Tax Bill

$474

Median Williamson County Tax Bill

$1,802

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Freeman Spur, Williamson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62841	$68	$222	$474	$965	$1,927

Source: Ownwell