Mclean County Property Taxes
The median property tax rate in McLean County is 2.62%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $163,629 in McLean County, the typical annual property tax bill reaches $4,175, which exceeds the national median of $2,690. Property taxes in McLean County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding McLean County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Bloomington or another part of McLean County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mclean County Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s McLean County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in McLean County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in McLean County to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Mclean County, Illinois
Property taxes in McLean County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in McLean County is 2.62%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within McLean County set these rates annually, and they can vary significantly between different areas within the county. Each year, McLean County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of McLean has one of the higher property tax rates in Illinois at 2.95%, while the city of Farmer City boasts one of the lowest at 1.97%. Analyzing how McLean County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mclean County Tax Rate
2.62%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mclean County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Anchor | 1.33% | 2.07% | 2.45% | 2.78% | 3.22% |
| Arrowsmith | 1.71% | 2.11% | 2.40% | 2.57% | 3.00% |
| Atlanta | 2.31% | 2.41% | 2.59% | 2.66% | 2.70% |
| Bellflower | 1.42% | 1.92% | 2.26% | 2.58% | 2.95% |
| Bloomington | 2.14% | 2.39% | 2.59% | 2.76% | 2.83% |
| Carlock | 1.98% | 2.29% | 2.41% | 2.52% | 2.76% |
| Chenoa | 1.74% | 2.26% | 2.59% | 2.88% | 3.21% |
| Colfax | 1.88% | 2.26% | 2.56% | 2.82% | 3.14% |
| Congerville | 2.66% | 2.69% | 2.73% | 2.79% | 2.82% |
| Cooksville | 1.72% | 2.34% | 2.57% | 2.87% | 3.22% |
| Cropsey | 1.10% | 2.12% | 2.61% | 2.97% | 2.97% |
| Danvers | 2.14% | 2.45% | 2.62% | 2.80% | 2.94% |
| Downs | 2.22% | 2.49% | 2.66% | 2.75% | 2.86% |
| Ellsworth | 1.95% | 2.28% | 2.45% | 2.69% | 2.96% |
| El Paso | 1.63% | 1.95% | 2.28% | 2.40% | 2.56% |
| Fairbury | 2.13% | 2.13% | 2.13% | 2.13% | 2.13% |
| Farmer City | 1.75% | 1.87% | 1.97% | 2.03% | 2.08% |
| Fisher | 1.90% | 2.05% | 2.11% | 2.24% | 2.35% |
| Gibson City | 2.44% | 2.57% | 2.64% | 2.87% | 3.01% |
| Gridley | 1.85% | 2.30% | 2.52% | 2.70% | 2.97% |
| Heyworth | 2.12% | 2.39% | 2.56% | 2.68% | 2.93% |
| Hudson | 2.19% | 2.41% | 2.57% | 2.67% | 2.74% |
| Leroy | 2.09% | 2.25% | 2.45% | 2.56% | 2.59% |
| Le Roy | 2.01% | 2.36% | 2.59% | 2.76% | 3.03% |
| Lexington | 2.11% | 2.42% | 2.62% | 2.75% | 3.02% |
| Mansfield | 2.30% | 2.35% | 2.42% | 2.49% | 2.53% |
| Mclean | 2.48% | 2.95% | 2.95% | 2.95% | 3.15% |
| Mc Lean | 2.14% | 2.50% | 2.73% | 2.90% | 3.28% |
| Merna | 2.31% | 2.38% | 2.47% | 2.69% | 2.69% |
| Minier | 2.86% | 2.86% | 2.86% | 2.86% | 2.86% |
| Normal | 2.32% | 2.54% | 2.68% | 2.79% | 2.99% |
| Saybrook | 1.57% | 2.09% | 2.39% | 2.87% | 2.97% |
| Shirley | 1.68% | 2.19% | 2.42% | 2.62% | 2.80% |
| Stanford | 1.93% | 2.51% | 2.81% | 3.07% | 3.43% |
| Towanda | 2.08% | 2.32% | 2.46% | 2.57% | 2.72% |
Source: Ownwell
Property Tax Assessment Values Across Mclean County, Illinois
In McLean County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the McLean County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in McLean County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, in McLean County, the highest median tax bill is $16,634 in Mansfield, while the lowest is $1,318 in Cropsey. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Mclean County Assessed Value
$163,629
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mclean County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Anchor | $41,545 | $57,208 | $82,768 | $109,461 | $148,190 |
| Arrowsmith | $39,056 | $74,550 | $103,194 | $134,709 | $172,273 |
| Atlanta | $88,631 | $110,433 | $146,769 | $188,052 | $212,822 |
| Bellflower | $24,731 | $53,949 | $78,150 | $96,684 | $135,562 |
| Bloomington | $81,773 | $113,883 | $171,708 | $247,962 | $336,819 |
| Carlock | $98,436 | $120,282 | $147,087 | $219,071 | $281,245 |
| Chenoa | $40,591 | $65,966 | $91,173 | $131,081 | $169,278 |
| Colfax | $38,655 | $59,771 | $93,705 | $142,198 | $183,609 |
| Congerville | $185,408 | $210,549 | $252,450 | $336,208 | $386,464 |
| Cooksville | $41,255 | $69,310 | $102,276 | $155,086 | $229,033 |
| Cropsey | $17,690 | $33,144 | $54,762 | $89,556 | $142,759 |
| Danvers | $89,592 | $116,078 | $150,264 | $199,473 | $266,578 |
| Downs | $85,422 | $124,830 | $199,071 | $297,231 | $391,701 |
| Ellsworth | $46,921 | $89,274 | $122,478 | $171,420 | $212,558 |
| El Paso | $118,756 | $122,805 | $158,445 | $193,935 | $219,003 |
| Fairbury | $137,799 | $137,799 | $137,799 | $137,799 | $137,799 |
| Farmer City | $105,100 | $144,700 | $157,869 | $171,195 | $208,251 |
| Fisher | $86,784 | $92,646 | $111,332 | $137,184 | $205,352 |
| Gibson City | $96,624 | $120,706 | $171,590 | $180,194 | $244,924 |
| Gridley | $64,098 | $90,462 | $128,601 | $171,723 | $230,559 |
| Heyworth | $84,894 | $116,571 | $164,412 | $223,107 | $278,299 |
| Hudson | $112,527 | $146,183 | $205,756 | $289,960 | $444,620 |
| Leroy | $131,555 | $162,006 | $241,671 | $335,409 | $376,880 |
| Le Roy | $74,124 | $97,858 | $134,763 | $178,410 | $236,080 |
| Lexington | $84,720 | $110,805 | $151,668 | $198,543 | $289,698 |
| Mansfield | $249,885 | $403,348 | $659,120 | $914,891 | $1,068,354 |
| Mclean | $22,619 | $36,450 | $51,261 | $110,943 | $125,683 |
| Mc Lean | $59,095 | $83,890 | $113,574 | $146,684 | $209,479 |
| Merna | $49,264 | $98,826 | $141,987 | $195,312 | $221,609 |
| Minier | $259,161 | $259,161 | $259,161 | $259,161 | $259,161 |
| Normal | $106,765 | $138,368 | $169,869 | $217,323 | $275,122 |
| Saybrook | $35,835 | $61,311 | $84,369 | $115,098 | $161,236 |
| Shirley | $70,983 | $92,208 | $142,971 | $181,917 | $244,077 |
| Stanford | $29,626 | $63,914 | $101,613 | $147,052 | $217,437 |
| Towanda | $84,023 | $114,386 | $165,874 | $231,771 | $308,909 |
Source: Ownwell
Property Tax Bills Across Mclean County, Illinois
In McLean County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the county assessor. The local tax rate, which is set by various taxing authorities, is then applied to this assessed value to calculate the tax bill. Factors influencing the tax bill include the property's market value, assessment level, and the specific tax rate for the area. For example, with a median home price of $163,629, homeowners in McLean County can expect varying tax bills. At the 25th percentile, tax bills are around $2,789, while at the 75th percentile, they can reach $6,031. At the 90th percentile, tax bills can be as high as $8,327. These property taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting homeowners. Comparatively, the national median property tax rate is 0.99%, making McLean County's property taxes a significant consideration for residents.
Average Mclean County Tax Bill
$4,175
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Mclean County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Anchor | $587 | $1,168 | $2,014 | $3,045 | $3,811 |
| Arrowsmith | $659 | $1,690 | $2,406 | $3,059 | $3,792 |
| Atlanta | $2,086 | $2,730 | $3,803 | $5,022 | $5,753 |
| Bellflower | $335 | $969 | $1,649 | $2,310 | $3,104 |
| Bloomington | $1,850 | $2,725 | $4,323 | $6,521 | $9,149 |
| Carlock | $2,142 | $2,778 | $3,553 | $5,307 | $6,948 |
| Chenoa | $913 | $1,533 | $2,276 | $3,327 | $4,587 |
| Colfax | $798 | $1,380 | $2,319 | $3,694 | $5,015 |
| Congerville | $5,180 | $5,742 | $6,680 | $9,066 | $10,498 |
| Cooksville | $986 | $1,691 | $2,500 | $3,991 | $6,177 |
| Cropsey | $310 | $556 | $1,318 | $1,935 | $3,607 |
| Danvers | $2,079 | $3,016 | $3,940 | $5,244 | $6,910 |
| Downs | $1,975 | $3,197 | $5,339 | $7,983 | $10,429 |
| Ellsworth | $839 | $2,171 | $2,876 | $4,042 | $5,297 |
| El Paso | $2,070 | $2,394 | $3,975 | $4,376 | $5,320 |
| Fairbury | $2,930 | $2,930 | $2,930 | $2,930 | $2,930 |
| Farmer City | $1,562 | $2,720 | $3,030 | $3,358 | $4,238 |
| Fisher | $1,422 | $1,811 | $2,190 | $2,985 | $4,800 |
| Gibson City | $2,698 | $3,061 | $4,428 | $4,971 | $6,537 |
| Gridley | $1,290 | $2,080 | $3,161 | $4,404 | $5,906 |
| Heyworth | $1,921 | $2,816 | $4,076 | $5,788 | $7,344 |
| Hudson | $2,449 | $3,471 | $5,120 | $7,551 | $11,978 |
| Leroy | $3,144 | $3,966 | $6,058 | $8,452 | $9,532 |
| Le Roy | $1,577 | $2,412 | $3,359 | $4,676 | $6,359 |
| Lexington | $1,890 | $2,704 | $3,864 | $5,351 | $8,017 |
| Mansfield | $6,014 | $9,997 | $16,634 | $23,271 | $27,253 |
| Mclean | $695 | $1,076 | $1,514 | $2,395 | $3,359 |
| Mc Lean | $1,402 | $2,087 | $3,048 | $4,053 | $5,936 |
| Merna | $1,327 | $2,177 | $3,639 | $4,776 | $5,485 |
| Minier | $7,412 | $7,412 | $7,412 | $7,412 | $7,412 |
| Normal | $2,620 | $3,528 | $4,482 | $5,872 | $7,595 |
| Saybrook | $517 | $1,254 | $1,957 | $2,827 | $4,081 |
| Shirley | $1,395 | $2,039 | $3,247 | $4,651 | $6,626 |
| Stanford | $735 | $1,482 | $2,714 | $4,245 | $6,044 |
| Towanda | $1,880 | $2,771 | $3,903 | $5,802 | $7,793 |
Source: Ownwell