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Kane County Reporter

Sunday, November 24, 2024

Analysis: Hampshire pays property taxes more than 2 times the national average

Hampshire

The house located at 514 Whitetail Circle, Hampshire, has a property tax bill of nearly $82,000.

The house located at 514 Whitetail Circle, Hampshire, has a property tax bill of nearly $82,000.

Property owners in Hampshire paid 2.6% percent of the value of their homes in taxes last year. That’s more than 2 times the national average, according to an LGIS analysis of real estate sales data in Kane County from Jan 1. to June 30.[1]

Local Government Information Service (LGIS) publishes the Kane County Reporter.

Hampshire, population 6,247, recorded a median sale price of $247,500, based on data from the 72 properties sold during the first half of 2018. In 2017, homeowners paid a median property tax bill of $6,423, according county tax data from the Kane County Assessment Office.

That’s 2.6% percent of the community’s median home value. In the U.S., the average effective property tax rate is 1.19 percent.

Put another way: a $247,500 home in Indiana, where the effective rate is 0.89 percent, would have a property tax bill of about $2,203, or nearly $4,220 less per year.

The analysis, including 27 Kane County communities with more than 5 sales since January, shows homeowners in Maple Park, West Dundee, unincorporated Tanner Woods, Algonquin and Sugar Grove pay the highest property taxes in the county, each clocking in with effective rates higher than 3 percent.

Pingree Grove, Sleepy Hollow, Gilberts, Prestbury, Elburn all have rates higher than 2.75 percent.

South Elgin, Hampshire, Elgin, Geneva, Burlington, East Dundee, Montgomery, North Aurora and Carpentersville are higher than 2.5 percent, about average in Illinois but 1.5 times the national average.

Illinois homeowners pay the second-highest property taxes in the country with an effective median rate of 2.32 percent, just behind those in New Jersey's (2.28 percent).

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Kane County communities paying the highest effective property tax rates

The following table ranks Kane County communities by their median effective property tax rate, calculated using sales and property tax data from 2018.

City

Jan - June 2018 Sales

Jan - June 2018 Median Price

Median tax

Effective Tax Rate

Maple Park

11

$165,000

$5,660

3.43%

West Dundee

71

$220,000

$7,188

3.27%

Tanner Woods

6

$315,000

$9,948

3.16%

Algonquin

67

$229,000

$6,985

3.05%

Sugar Grove

102

$255,500

$7,745

3.03%

Pingree Grove

89

$210,000

$6,224

2.96%

Sleepy Hollow

29

$265,000

$7,779

2.94%

Gilberts

66

$228,500

$6,645

2.91%

Prestbury

25

$266,500

$7,459

2.80%

Elburn

69

$275,000

$7,617

2.77%

South Elgin

137

$228,000

$6,031

2.65%

Hampshire

72

$247,500

$6,423

2.60%

Elgin

605

$188,000

$4,862

2.59%

Geneva

256

$334,000

$8,599

2.57%

Burlington

7

$204,000

$5,210

2.55%

East Dundee

53

$172,000

$4,379

2.55%

Montgomery

74

$176,500

$4,486

2.54%

North Aurora

150

$259,950

$6,572

2.53%

Carpentersville

306

$159,000

$3,997

2.51%

Big Rock

17

$226,000

$5,621

2.49%

Wayne

9

$690,000

$17,024

2.47%

Batavia

228

$299,500

$7,300

2.44%

St. Charles

274

$284,950

$6,748

2.37%

Campton Hills

114

$407,500

$9,569

2.35%

Lily Lake

15

$386,000

$9,024

2.34%

Aurora

703

$154,900

$3,471

2.24%

Huntley

79

$242,000

$4,797

1.98%

Kane County communities with the highest median home price

The following table ranks Kane County cities by their median sale price, which is calculated using prices of properties sold during the first six months of 2018.

City

Jan - June 2017 Sales

Jan - June 2017 Median Price

Jan - June 2018 Sales

Jan - June 2018 Median Price

Change

Lily Lake

11

$231,900

15

$386,000

66.45%

Wayne

8

$445,500

9

$690,000

54.88%

Algonquin

87

$190,050

67

$229,000

20.49%

Pingree Grove

92

$182,000

89

$210,000

15.38%

Hampshire

67

$216,000

72

$247,500

14.58%

Elburn

62

$243,250

69

$275,000

13.05%

North Aurora

127

$235,000

150

$259,950

10.62%

Elgin

655

$170,000

605

$188,000

10.59%

Batavia

254

$276,500

228

$299,500

8.32%

Huntley

98

$223,500

79

$242,000

8.28%

Aurora

697

$144,900

703

$154,900

6.90%

Carpentersville

274

$149,000

306

$159,000

6.71%

Gilberts

73

$215,000

66

$228,500

6.28%

East Dundee

38

$162,700

53

$172,000

5.72%

Campton Hills

98

$389,500

114

$407,500

4.62%

Prestbury

20

$259,000

25

$266,500

2.90%

St. Charles

266

$277,450

274

$284,950

2.70%

Montgomery

78

$175,500

74

$176,500

0.57%

Geneva

271

$335,000

256

$334,000

-0.30%

South Elgin

152

$230,000

137

$228,000

-0.87%

Sleepy Hollow

26

$270,250

29

$265,000

-1.94%

Sugar Grove

94

$266,000

102

$255,500

-3.95%

West Dundee

58

$236,250

71

$220,000

-6.88%

Maple Park

9

$181,250

11

$165,000

-8.97%

Tanner Woods

7

$356,500

6

$315,000

-11.64%

Big Rock

8

$264,500

17

$226,000

-14.56%

Burlington

1

$241,000

7

$204,000

-15.35%

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