Pierron, Bond County, Illinois Property Taxes

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

Median Pierron, IL effective property tax rate: 2.84%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Pierron, IL home value: $42,387
Median annual Pierron, IL tax bill: $776, $1,624 lower than the national median property tax bill of $2,400.

How are property taxes in Bond calculated?

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

Last Updated March 1, 2025

Pierron, Bond County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.84%

Estimate Property Tax Bill

$1,204

$1,117

Ownwell’s Pierron Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Pierron with just two data points. By entering your property's estimated assessed value, our calculator applies Pierron’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 Pierron, Bond County, Illinois

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Pierron in Bond County, Illinois, has an effective property tax rate of 2.84%, which is significantly higher than the national median property tax rate of 1.02%. This high rate reflects the local government’s budgetary needs and the assessed values of properties. In comparison, Illinois generally has higher property tax rates than many other states, which can impact homeowners' financial planning and decisions.

Understanding the property tax landscape in Pierron is crucial for homeowners, as it directly affects their annual expenses. By comparing the effective property tax rate in Pierron to other cities in Illinois and the national median, homeowners can gain insight into how their property taxes measure up and make informed decisions about appealing their assessments or exploring available exemptions.

Property Tax Rates Across Pierron, 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 Pierron Tax Rate

2.84%

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 Pierron, Bond County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62273	1.51%	2.06%	2.84%	2.84%	2.84%

Source: Ownwell

Property Tax Assessment Values Across Pierron, Bond County, Illinois

When examining property taxes in Pierron, 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 Assessor's Office 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. Assessment notices: 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 Pierron. For example, the median home price in Pierron is $42,387, with tax bills ranging significantly across the county. Zip code 62273 has the highest median home price at $42,387.

Property Tax Assessment Values Across Pierron, Bond County, Illinois

Source: Ownwell

$34,928

$51,711

$68,493

Median Pierron Market Value

$42,387

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 Pierron, Bond County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62273	$7,026	$21,634	$42,387	$82,161	$119,455

Source: Ownwell

Property Tax Bills Across Pierron, Bond County, Illinois

In Pierron, located in Bond County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value typically represents a percentage of the market value, and local authorities set the tax rate based on budgetary needs. Homeowners in Pierron face a median tax bill of $776, which is significantly lower than the national median property tax bill of $2,400. However, property tax bills can vary widely, with the 25th percentile at $599 and the 90th percentile reaching $2,739. These variations depend on factors such as property location, size, and applicable exemptions. High property taxes can strain homeowners, making it essential to explore potential savings. Ownwell offers expertise in property tax appeals and exemptions, helping homeowners navigate the complexities of the tax system. By reviewing property assessments and identifying possible discrepancies, Ownwell can assist homeowners in Pierron in potentially lowering their property tax bills, ensuring they pay no more than necessary.

Property Tax Bills Across Pierron, Bond County, Illinois

Source: Ownwell

$776

$1,253

$1,730

Median Pierron Tax Bill

$776

Median Bond County Tax Bill

$1,285

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Pierron, Bond County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62273	$199	$599	$776	$1,911	$2,739

Source: Ownwell