Thompsonville, Williamson County, Illinois Property Taxes

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

Median THOMPSONVILLE, IL effective property tax rate: 2.37%, significantly higher than the national median of 1.02%, but slightly higher than the Illinois state median of 2.35%.
Median THOMPSONVILLE, IL home value: $80,385
Median annual THOMPSONVILLE, IL tax bill: $1,500, $900 lower than the national median property tax bill of $2,400.

How are property taxes in Williamson County calculated?

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

Last Updated March 1, 2025

Thompsonville, Williamson County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.37%

Estimate Property Tax Bill

$1,905

$1,768

Ownwell’s Thompsonville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Thompsonville with just two data points. By entering your property's estimated assessed value, our calculator applies Thompsonville’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 Thompsonville, Williamson County, Illinois

Local government entities are responsible for setting tax rates, which can vary significantly within Illinois. Each county estimates its required budget to provide essential 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, this is the annual process in a nutshell.

Thompsonville, located in Williamson County, presents an interesting case. Here, the effective property tax rate stands at 2.37%, which is notably higher than the national median property tax rate of 1.02%. This means that property owners in Thompsonville face a more substantial tax burden compared to many other regions in the U.S.

For those considering property investments or homeownership in Illinois, understanding these tax implications is crucial. By comparing Thompsonville’s effective property tax rate to other cities in Illinois and the national median, potential buyers can make informed decisions about their financial commitments.

Navigating the complexities of property taxes can be daunting, but awareness of local tax rates and their impact on overall expenses is a vital step in financial planning.

Property Tax Rates Across Thompsonville, 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 Thompsonville Tax Rate

2.37%

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 Thompsonville, Williamson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62890	1.42%	1.90%	2.37%	2.39%	2.43%

Source: Ownwell

Property Tax Assessment Values Across Thompsonville, Williamson County, Illinois

When examining property taxes in Thompsonville, 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.

In Williamson County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 Thompsonville. For example, the median home price in Thompsonville is $80,385, with tax bills ranging significantly across the county. Zip code 62890 has the highest median home price at $80,385.

Property Tax Assessment Values Across Thompsonville, Williamson County, Illinois

Source: Ownwell

$23,550

$71,490

$119,430

Median Thompsonville Market Value

$80,385

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 Thompsonville, Williamson County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62890	$12,093	$35,914	$80,385	$132,544	$193,727

Source: Ownwell

Property Tax Bills Across Thompsonville, Williamson County, Illinois

In Thompsonville, located in Williamson County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. With a median home price of $80,385, homeowners in Thompsonville face a range of property tax bills. The 25th percentile tax bill is $707, while the 75th percentile reaches $2,909, and the 90th percentile can go up to $4,287. These figures highlight the variability in tax obligations, influenced by factors such as property location and assessed value. Compared to the national median property tax rate of 1.02% and a median tax bill of $2,400, Thompsonville's tax landscape presents both challenges and opportunities for savings. Homeowners can benefit from Ownwell's expertise in property tax appeal and exemption services, potentially lowering their tax bills by ensuring their property assessments are fair and accurate, ultimately providing financial relief and peace of mind.

Property Tax Bills Across Thompsonville, Williamson County, Illinois

Source: Ownwell

$345

$1,478

$2,611

Median Thompsonville Tax Bill

$1,500

Median Williamson County Tax Bill

$1,802

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Thompsonville, Williamson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62890	$277	$707	$1,500	$2,909	$4,287

Source: Ownwell