Coffeen, Bond County, Illinois Property Taxes

Name: Property Tax Bills Across Coffeen, Bond County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Coffeen, IL effective property tax rate: 2.58%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Coffeen, IL home value: $244,899
Median annual Coffeen, IL tax bill: $6,307, $3,907 higher than the national median property tax bill of $2,400.

How are property taxes in Bond County calculated?

Property taxes in Coffeen, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Coffeen’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Coffeen, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Coffeen, Bond County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.58%

Estimate Property Tax Bill

$6,318

$5,863

Ownwell’s Coffeen Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Coffeen with just two data points. By entering your property's estimated assessed value, our calculator applies Coffeen’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Bond County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Coffeen, Bond County, Illinois

Local government entities set property tax rates, which can vary widely within a state. This variation is due to each county estimating its required budget to provide services and then dividing that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.

In Coffeen, located in Montgomery County, Illinois, the effective property tax rate is notably higher than both the state and national medians. Illinois has a median property tax rate of 2.27%, which is significantly above the national median of 1.02%. This means that property owners in Coffeen face a higher financial burden compared to many other areas in the country. The state's higher-than-average property tax rates can be attributed to its reliance on property taxes to fund local services and schools.

Comparing Coffeen’s property tax rate to other cities in Illinois and across the U.S. highlights the importance of understanding local tax obligations and exploring potential avenues for appeal or exemption to alleviate the financial impact on property owners.

Property Tax Rates Across Coffeen, Bond County, Illinois

Source: Ownwell

2.10%

2.47%

2.84%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Coffeen Tax Rate

2.58%

Median Effective Bond County Tax Rate

2.52%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Coffeen, Bond County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62017	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Coffeen, Bond County, Illinois

When examining property taxes in Coffeen, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Bond County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Bond County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Coffeen.

For example, the median home price in Coffeen is $244,899, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Coffeen, Bond County, Illinois

Source: Ownwell

$34,928

$51,711

$68,493

Median Coffeen Market Value

$244,899

Median Bond County Market Value

$56,846

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Coffeen, Bond County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62017	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Coffeen, Bond County, Illinois

In Coffeen, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate, set by taxing authorities, is then applied to this assessed value to determine the tax bill. With the median home price in Coffeen at $244,899, homeowners can expect their tax bills to be significantly higher than the national median property tax bill of $2,400. In fact, the tax bill in Coffeen is consistently $6,307 across various percentiles, indicating a substantial property tax burden on homeowners. This high tax bill can strain household budgets, making it crucial for homeowners to explore potential savings. Ownwell can assist by providing expert property tax appeal services, helping homeowners challenge their assessed values and potentially reduce their tax burdens. By identifying discrepancies or over-assessments, Ownwell ensures that homeowners pay only their fair share, offering a vital service in areas where property taxes are notably high.

Property Tax Bills Across Coffeen, Bond County, Illinois

Source: Ownwell

$776

$1,253

$1,730

Median Coffeen Tax Bill

$6,307

Median Bond County Tax Bill

$1,285

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Coffeen, Bond County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62017	N/A	N/A	N/A	N/A	N/A

Source: Ownwell