Tax Comparison: Castle rock, CO vs Herrin, IL
Understanding Your Tax Burden
This page compares the three main types of taxes between Castle rock, CO and Herrin, 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
Castle rock, CO
$2,306
Based on a $419,200 home
Rate: 0.5500%
Herrin, IL
$7,169
Based on a $419,200 home
Rate: 1.7102%
| Data | Castle rock, CO | Herrin, IL |
|---|---|---|
| Effective Property Tax Rate | 0.5500% | 1.7102% |
| Estimated Property Tax | $2,306 | $7,169 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Castle rock, CO are $4,864 lower than in Herrin, 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
CO
4.4%
Single: $4,400
Married: $7,920
IL
4.95%.
Single: $4,950
Married: $8,910
| Data | CO | IL |
|---|---|---|
| Tax Rate | 4.4% | 4.95%. |
| Single Filer ($100k) | $4,400 | $4,950 |
| Married Couple ($200k) | $7,920 | $8,910 |
| Median Income ($80.6k) | $3,547 | $3,989 |
Comparison: Income taxes in CO are $442 lower than in IL 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
Castle rock, CO
11.200%
Combined rate
Annual sales tax: $1736
(Based on $15,500 spending)
Herrin, IL
11.000%
Combined rate
Annual sales tax: $1705
(Based on $15,500 spending)
| Data | Castle rock, CO | Herrin, IL |
|---|---|---|
| State Sales Tax | 2.90% | 6.25% |
| Combined Sales Tax | 11.200% | 11.000% |
| Annual Tax Amount | $1,736 | $1,705 |
Comparison: Shopping in Herrin, IL costs $31 less in annual sales tax than in Castle rock, CO for the average household.
Tax Comparison Insights
Tax Insights: Castle rock vs Herrin
- Property Tax: Castle rock has a 1.1602 percentage points lower effective property tax rate than Herrin.
- Income Tax: Living in CO could save you approximately $442 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Herrin is 0.20 percentage points lower than in Castle rock.
Overall Tax Burden Comparison
Castle rock, CO
$7,588
Combined annual tax burden
Property
$2,306
Income
$3,547
Sales
$1,736
Herrin, IL
$12,863
Combined annual tax burden
Property
$7,169
Income
$3,989
Sales
$1,705
Overall Comparison: Castle rock, CO has an estimated $5,275 lower total tax burden than Herrin, 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.