Tax Comparison: Bassett, NE vs Fairview heights, IL
Understanding Your Tax Burden
This page compares the three main types of taxes between Bassett, NE and Fairview heights, IL: property tax, income tax, and sales tax. Each of these has a different impact on your overall cost of living.
Property Tax Comparison
Property taxes are collected by local governments and used to fund schools, infrastructure, and other local services. They're typically based on the assessed value of your property.
Our property tax estimates are based on:
- U.S. median home value: $419,200 (2023 data)
- Local effective tax rates for both cities
Bassett, NE
$4,259
Based on a $419,200 home
Rate: 1.0161%
Fairview heights, IL
$8,774
Based on a $419,200 home
Rate: 2.0930%
| Data | Bassett, NE | Fairview heights, IL |
|---|---|---|
| Effective Property Tax Rate | 1.0161% | 2.0930% |
| Estimated Property Tax | $4,259 | $8,774 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Bassett, NE are $4,514 lower than in Fairview heights, IL for the same home value.
State Income Tax Comparison
Income tax rates and brackets vary by state, impacting residents' overall tax burden. The estimates below are based on standard deductions and typical filing scenarios.
Our income tax estimates consider:
- Single filer: $100,000 annual income
- Married couple: $200,000 combined income
- Median income: $80,600 annual income
NE
2.46%-5.84%
Single: $4,828
Married: $8,690
IL
4.95%.
Single: $4,950
Married: $8,910
| Data | NE | IL |
|---|---|---|
| Tax Rate | 2.46%-5.84% | 4.95%. |
| Single Filer ($100k) | $4,828 | $4,950 |
| Married Couple ($200k) | $8,690 | $8,910 |
| Median Income ($80.6k) | $4,041 | $3,989 |
Comparison: Income taxes in IL are $52 lower than in NE for the median household income.
Sales Tax Comparison
Sales tax rates vary by location and can have a significant impact on your day-to-day expenses. These include state, county, city, and special district taxes that together form the total sales tax rate.
Our sales tax estimates consider:
- Average household taxable spending: $15,500 per year
- Combined state and local rates for both cities
Bassett, NE
7.500%
Combined rate
Annual sales tax: $1162
(Based on $15,500 spending)
Fairview heights, IL
11.000%
Combined rate
Annual sales tax: $1705
(Based on $15,500 spending)
| Data | Bassett, NE | Fairview heights, IL |
|---|---|---|
| State Sales Tax | 5.50% | 6.25% |
| Combined Sales Tax | 7.500% | 11.000% |
| Annual Tax Amount | $1,162 | $1,705 |
Comparison: Shopping in Bassett, NE costs $543 less in annual sales tax than in Fairview heights, IL for the average household.
Tax Comparison Insights
Tax Insights: Bassett vs Fairview heights
- Property Tax: Bassett has a 1.0769 percentage points lower effective property tax rate than Fairview heights.
- Income Tax: Living in IL could save you approximately $52 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Bassett is 3.50 percentage points lower than in Fairview heights.
Overall Tax Burden Comparison
Bassett, NE
$9,462
Combined annual tax burden
Property
$4,259
Income
$4,041
Sales
$1,162
Fairview heights, IL
$14,467
Combined annual tax burden
Property
$8,774
Income
$3,989
Sales
$1,705
Overall Comparison: Bassett, NE has an estimated $5,005 lower total tax burden than Fairview heights, IL based on our standard scenarios.
Important Tax Disclaimer
The tax information provided above is based on publicly available data and standard assumptions. Actual tax situations will vary based on:
- Individual financial circumstances
- Applicable deductions and credits
- Recent changes in tax laws
- Personal spending habits
- Local variations within cities and counties
This comparison is intended for general informational purposes only and should not be considered tax advice. For specific guidance regarding your tax situation, please consult with a qualified tax professional.