Hampshire, Kane County, Illinois Property Taxes

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

Median HAMPSHIRE, IL effective property tax rate: 2.50%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median HAMPSHIRE, IL home value: $284,025
Median annual HAMPSHIRE, IL tax bill: $7,183, $4,783 higher than the national median property tax bill of $2,400.

How are property taxes in Kane calculated?

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

Last Updated March 1, 2025

Hampshire, Kane County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.4%

Estimate Property Tax Bill

$7,535

$6,992

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

Property Tax Rates Across Hampshire, Kane County, Illinois

Local government entities set property tax rates, which can vary significantly within a state. Each year, counties estimate their required budgets for public services and divide this by the total value of all taxable property in their jurisdiction, resulting in the property tax rate. This calculation, along with votes and legislation, forms the basis of the annual property tax process. In Hampshire, located in Kane County, the effective property tax rate stands at 2.50%. This rate is notably higher than the national median property tax rate of 1.02%, indicating a more substantial property tax burden compared to many other regions in the U.S. When comparing Hampshire's property tax rate to other cities in Illinois, it is evident that it aligns with the highest median tax rate in the state. This comparison highlights the variability of property tax rates within Illinois and underscores the importance of understanding local tax obligations.

Property Tax Rates Across Hampshire, Kane County, Illinois

Source: Ownwell

2.10%

2.45%

2.80%

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 Hampshire Tax Rate

2.40%

Median Effective Kane County Tax Rate

2.49%

Median Effective Illinois Tax Rate

2.33%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hampshire, Kane County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60140	2.04%	2.20%	2.40%	2.63%	2.82%

Source: Ownwell

Property Tax Assessment Values Across Hampshire, Kane County, Illinois

When examining property taxes in Hampshire, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value represents 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 Kane County Assessor's Office 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 Kane 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 Hampshire. For example, the median home price in Hampshire is $284,025, with tax bills ranging significantly across the county. ZIP code 60140 has the highest median home price at $284,025.

Property Tax Assessment Values Across Hampshire, Kane County, Illinois

Source: Ownwell

$156,664

$405,361

$654,058

Median Hampshire Market Value

$313,968

Median Kane County Market Value

$279,433

Median Illinois Market Value

$227,888

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hampshire, Kane County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60140	$189,093	$228,337	$313,968	$377,564	$459,048

Source: Ownwell

Property Tax Bills Across Hampshire, Kane County, Illinois

In Hampshire, located in Kane County, IL, property tax bills are determined by the assessed value of a home, which is a percentage of the market value. The median home price in this area is $284,025, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $5,286, while the 75th percentile reaches $8,786, and the 90th percentile goes up to $10,552. These figures are notably higher than the national median property tax bill of $2,400. Homeowners in Hampshire face substantial property tax obligations, with the highest and lowest median tax bills both recorded at $7,183 in the 60140 zip code. Such high tax bills can be financially burdensome for homeowners, affecting their overall cost of living. Ownwell offers expert property tax appeal and exemption services to help homeowners reduce these expenses. By analyzing individual property assessments and identifying potential discrepancies, Ownwell can assist in lowering tax bills, providing significant savings and easing the financial burden on homeowners.

Property Tax Bills Across Hampshire, Kane County, Illinois

Source: Ownwell

$3,311

$10,437

$17,562

Median Hampshire Tax Bill

$7,584

Median Kane County Tax Bill

$6,802

Median Illinois Tax Bill

$5,277

Median United States Tax Bill

$2,400

Property Tax Bills Across Hampshire, Kane County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60140	$4,317	$5,463	$7,584	$9,172	$10,960

Source: Ownwell