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Friday, November 22, 2024

Analysis: Hartford pays property taxes two times national average

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This two bedroom home, 104 W 3rd Street in Hartford, has a property tax bill of more than $1,260. | Zillow.com

This two bedroom home, 104 W 3rd Street in Hartford, has a property tax bill of more than $1,260. | Zillow.com

Property owners in Hartford paid nearly 2.6 percent of the value of their homes in taxes last year. That’s more than two times the national average, according to an LGIS analysis of real estate sales data in Madison County from Jan 1. to June 30.

Local Government Information Service (LGIS) publishes the Metro East Sun.

Hartford, population 1,378, recorded a median sale price of $31,000, based on data from the 10 properties sold during the first half of 2018. In 2017, homeowners paid a median property tax bill of $789, according county tax data from the Madison County Assessment Office.

That’s 2.55 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 $31,000 home in Indiana, where the effective rate is 0.89 percent, would have a property tax bill of about $276, or more than $500 less per year.

The analysis, including 26 Madison County communities with more than 5 sales since January, shows homeowners in East Alton, Madison, Pontoon Beach, and Highland, each clocking in with effective rates of 3 percent or higher. Hamel and Bethalto have rates higher than 2.75 percent.

Alhambra, Granite City, Wood River, Troy, and Hartford are 2.5 percent or higher — about average in Illinois but two times the national average. 

Illinois homeowners pay the second-highest property tax 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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Madison County communities paying the highest effective property tax rates

The following table ranks Madison 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

East Alton39$40,000$1,6164.04%
Madison16$20,250$7163.53%
Pontoon Beach19$60,000$2,0403.40%
Highland54$106,000$3,3773.19%
Hamel 3$125,000$3,6472.92%
Bethalto 58$88,450$2,4662.79%
Holiday Shores16$149,250$3,9132.62%
Alhambra 6$112,000$2,9252.61%
Granite City 179$57,000$1,4872.61%
Wood River 44$60,500$1,5742.60%
Troy 51$152,000$3,8732.55%
Hartford 10$31,000$7892.55%
Alton171$63,500$1,5372.42%
Glen Carbon 65$192,000$4,4942.34%
South Roxana $42,500$8932.10%
Moro11$132,500$2,7772.10%
Edwardsville 114$192,750$4,0282.09%
Godfrey106$133,500$2,7402.05%
Collinsville 108$110,500$2,2622.05%
Maryville 33$206,000$4,1302.01%
Rosewood Heights 24$84,500$1,6611.97%
Worden 6$146,000$2,8661.96%
Cedar Park 5$87,500$1,6461.88%
Mitchell 5$71,500$1,2101.69%
Marine 6$187,750$3,0731.64%
Roxana 9$76,000$1,1011.45%
Source: Blockshopper.com; Madison County Assessment Office

Madison County communities with the highest median home price

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

CityJan - June 2017 SalesJan - June 2017 Median PriceJan - June 2018 SalesJan - June 2018 Median PriceChange
South Roxana11$27,0007$42,50057.41%
Marine7$125,0006$187,75050.20%
Moro9$108,50011$132,50022.12%
Roxana13$62,4909$76,00021.62%
Edwardsville 231$164,900114$192,75016.89%
Worden 23$125,0006$146,00016.80%
Godfrey174$114,950106$133,50016.14%
Madison13$18,00016$20,25012.50%
Alhambra 3$100,0006$112,00012.00%
Granite City 343$52,000179$57,0009.62%
Cedar Park 5$82,5005$87,5006.06%
Maryville55$198,00033$206,0004.04%
Alton 226$63,000171$63,5000.79%
Collinsville 214$110,000108$110,5000.45%
Glen Carbon 132$195,00065$192,000-1.54%
Mitchell 4$74,5005$71,500-4.03%
Rosewood Heights 41$90,00024$84,500-6.11%
Hamel10$133,7503$125,000-6.54%
Troy111$163,00051$152,000-6.75%
Wood River105$66,00044$60,500-8.33%
Holiday Shores 29$165,90016$149,250-10.04%
Highland 112$124,50054$106,000-14.86%
Bethalto 96$109,45058$88,450-19.19%
Hartford 9$41,50010$31,000-25.30%
Pontoon Beach 33$92,00019$60,000-34.78%
East Alton 63$62,00039$40,000-35.48%
Source: Blockshopper.com; Madison County Recorder

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