Bond County Property Taxes
The median property tax rate in Bond County is 2.52%, which is significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Bond County, the typical annual property tax bill reaches $1,285, which is below the national median of $2,690. Property taxes in Bond 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 Bond 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 Greenville or another part of Bond County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bond 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 Bond County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bond County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Bond County to estimate your property tax bill. This insight 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 Bond County, Illinois
Property taxes in Bond County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Bond County is 2.52%, which is significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Bond County set these rates annually, and they can vary significantly between different areas within the county. Each year, Bond 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 Panama has one of the higher property tax rates in Illinois at 3.02%, while the city of New Douglas boasts one of the lowest at 2.10%. Analyzing how Bond County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Bond County Tax Rate
2.52%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bond County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carlyle | 1.98% | 2.07% | 2.20% | 2.34% | 2.43% |
| Coffeen | 2.58% | 2.58% | 2.58% | 2.58% | 2.58% |
| Donnellson | 2.10% | 2.19% | 2.51% | 2.60% | 2.67% |
| Greenville | 1.71% | 2.26% | 2.69% | 3.43% | 3.43% |
| Highland | 2.27% | 2.27% | 2.27% | 2.27% | 2.27% |
| Keyesport | 1.08% | 1.79% | 2.45% | 2.66% | 2.66% |
| Mulberry Grove | 1.35% | 1.98% | 2.52% | 2.80% | 3.12% |
| New Douglas | 1.59% | 2.04% | 2.10% | 2.69% | 2.78% |
| Panama | 2.58% | 2.74% | 3.02% | 3.02% | 3.02% |
| Pierron | 1.51% | 2.06% | 2.84% | 2.84% | 2.84% |
| Pocahontas | 1.08% | 1.93% | 2.42% | 2.95% | 3.51% |
| Smithboro | 1.33% | 1.95% | 2.46% | 2.77% | 2.91% |
| Sorento | 1.02% | 1.86% | 2.33% | 2.88% | 3.69% |
Source: Ownwell
Property Tax Assessment Values Across Bond County, Illinois
In Bond 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 Bond 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 Bond 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. Bond County homeowners see a wide range of tax bills, with Coffeen having the highest median tax bill at $6,307 and Panama the lowest at $126. Being aware of these valuation processes in Bond County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Bond County Assessed Value
$56,846
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bond County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carlyle | $97,565 | $103,787 | $114,158 | $124,528 | $130,750 |
| Coffeen | $244,899 | $244,899 | $244,899 | $244,899 | $244,899 |
| Donnellson | $10,406 | $26,096 | $65,925 | $84,056 | $114,349 |
| Greenville | $5,001 | $27,027 | $68,493 | $108,788 | $202,084 |
| Highland | $95,223 | $95,223 | $95,223 | $95,223 | $95,223 |
| Keyesport | $10,992 | $44,338 | $54,177 | $69,714 | $101,307 |
| Mulberry Grove | $3,755 | $16,432 | $34,928 | $81,950 | $123,241 |
| New Douglas | $9,125 | $43,911 | $62,820 | $68,544 | $81,337 |
| Panama | $1,866 | $3,347 | $18,282 | $47,047 | $73,422 |
| Pierron | $7,026 | $21,634 | $42,387 | $82,161 | $119,455 |
| Pocahontas | $10,867 | $27,412 | $56,454 | $82,898 | $120,205 |
| Smithboro | $12,609 | $33,991 | $65,487 | $97,228 | $155,190 |
| Sorento | $2,079 | $18,717 | $41,790 | $73,038 | $95,190 |
Source: Ownwell
Property Tax Bills Across Bond County, Illinois
In Bond County, IL, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners, the median home price in Bond County is $56,846, and the property tax rate is a significant factor in calculating the final bill. The tax bill can vary widely, with the 25th percentile at $520 and the 75th percentile at $2,205, reflecting the differences in property values and applicable exemptions. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Bond County face varying tax burdens, with the highest median tax bill reaching $6,307 in Coffeen, while the lowest is $126 in Panama. These differences highlight the impact of local assessments and tax rates on individual tax bills, affecting the overall financial obligations of homeowners in the county.
Average Bond County Tax Bill
$1,285
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Bond County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carlyle | $1,955 | $2,187 | $2,573 | $2,960 | $3,191 |
| Coffeen | $6,307 | $6,307 | $6,307 | $6,307 | $6,307 |
| Donnellson | $287 | $666 | $1,416 | $1,932 | $2,833 |
| Greenville | $271 | $857 | $1,730 | $2,754 | $5,605 |
| Highland | $2,165 | $2,165 | $2,165 | $2,165 | $2,165 |
| Keyesport | $286 | $666 | $1,138 | $1,650 | $2,287 |
| Mulberry Grove | $86 | $369 | $799 | $2,016 | $2,806 |
| New Douglas | $243 | $447 | $1,281 | $1,442 | $1,721 |
| Panama | $46 | $76 | $126 | $1,186 | $1,822 |
| Pierron | $199 | $599 | $776 | $1,911 | $2,739 |
| Pocahontas | $222 | $490 | $1,239 | $1,894 | $2,984 |
| Smithboro | $308 | $833 | $1,212 | $2,207 | $4,545 |
| Sorento | $90 | $304 | $940 | $1,593 | $2,056 |
Source: Ownwell