Tax Burden in ZIP Code 62701
Springfield, IL — Sangamon County
At the median income of $52,000, the estimated total tax burden in ZIP 62701 is $13,958 (26.8% effective rate), including federal income tax, FICA, and property tax.
Federal Tax (est.)
$7,280
FICA
$3,978
Property Tax
$2,700
Total Tax Burden
$13,958
26.8% effective
Tax Details for ZIP 62701
ZIP code 62701 is located in Sangamon County, IL, within the Springfield MSA metropolitan area. The area has a cost of living index of 86 (100 = national average), making it more affordable than the national average.
The effective property tax rate is 2.00%. On the median home price of $135,000, this equals $2,700 per year ($225/month).
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