Tax Comparison: Siloam springs, AR vs Beecher city, IL
Understanding Your Tax Burden
This page compares the three main types of taxes between Siloam springs, AR and Beecher city, 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
Siloam springs, AR
$2,545
Based on a $419,200 home
Rate: 0.6072%
Beecher city, IL
$6,325
Based on a $419,200 home
Rate: 1.5089%
| Data | Siloam springs, AR | Beecher city, IL |
|---|---|---|
| Effective Property Tax Rate | 0.6072% | 1.5089% |
| Estimated Property Tax | $2,545 | $6,325 |
| Home Value Used | $419,200 | $419,200 |
Comparison: Property taxes in Siloam springs, AR are $3,780 lower than in Beecher city, 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
AR
2%-4.4%
Single: $3,625
Married: $6,525
IL
4.95%.
Single: $4,950
Married: $8,910
| Data | AR | IL |
|---|---|---|
| Tax Rate | 2%-4.4% | 4.95%. |
| Single Filer ($100k) | $3,625 | $4,950 |
| Married Couple ($200k) | $6,525 | $8,910 |
| Median Income ($80.6k) | $3,145 | $3,989 |
Comparison: Income taxes in AR are $844 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
Siloam springs, AR
12.625%
Combined rate
Annual sales tax: $1956
(Based on $15,500 spending)
Beecher city, IL
11.000%
Combined rate
Annual sales tax: $1705
(Based on $15,500 spending)
| Data | Siloam springs, AR | Beecher city, IL |
|---|---|---|
| State Sales Tax | 6.50% | 6.25% |
| Combined Sales Tax | 12.625% | 11.000% |
| Annual Tax Amount | $1,956 | $1,705 |
Comparison: Shopping in Beecher city, IL costs $251 less in annual sales tax than in Siloam springs, AR for the average household.
Tax Comparison Insights
Tax Insights: Siloam springs vs Beecher city
- Property Tax: Siloam springs has a 0.9017 percentage points lower effective property tax rate than Beecher city.
- Income Tax: Living in AR could save you approximately $844 in state income taxes for a median household income.
- Sales Tax: The combined sales tax rate in Beecher city is 1.63 percentage points lower than in Siloam springs.
Overall Tax Burden Comparison
Siloam springs, AR
$7,646
Combined annual tax burden
Property
$2,545
Income
$3,145
Sales
$1,956
Beecher city, IL
$12,019
Combined annual tax burden
Property
$6,325
Income
$3,989
Sales
$1,705
Overall Comparison: Siloam springs, AR has an estimated $4,373 lower total tax burden than Beecher city, 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.