Sorento, Bond County, Illinois Property Taxes

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

Median Sorento, IL effective property tax rate: 2.33%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Sorento, IL home value: $41,790
Median annual Sorento, IL tax bill: $940, $1,460 lower than the national median property tax bill of $2,400.

How are property taxes in Bond County calculated?

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

Last Updated March 1, 2025

Sorento, Bond County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.33%

Estimate Property Tax Bill

$974

$904

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

Local government entities set tax rates, which can vary widely within a state. This variation is because each county estimates its required budget to provide services annually 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.

Below, you can compare Sorento’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Sorento, located in Bond County, has a property tax rate of 2.33%. This rate is significantly higher than the national median property tax rate of 1.02%. In Illinois, Sorento's rate is among the highest, matching the state's highest median tax rate. This indicates a considerable difference compared to the national landscape, where the median property tax bill is $2400. Understanding these differences can help homeowners make informed decisions about property taxes in their area.

Property Tax Rates Across Sorento, 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 Sorento Tax Rate

2.33%

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 Sorento, Bond County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62086	1.02%	1.86%	2.33%	2.88%	3.69%

Source: Ownwell

Property Tax Assessment Values Across Sorento, Bond County, Illinois

When examining property taxes in Sorento, 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. 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 Sorento. For example, the median home price in Sorento is $41,790, with tax bills ranging significantly across the county. 62086 has the highest median home price at $41,790.

Property Tax Assessment Values Across Sorento, Bond County, Illinois

Source: Ownwell

$34,928

$51,711

$68,493

Median Sorento Market Value

$41,790

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 Sorento, Bond County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62086	$2,079	$18,717	$41,790	$73,038	$95,190

Source: Ownwell

Property Tax Bills Across Sorento, Bond County, Illinois

In Sorento, located in Bond County, IL, property tax bills are determined based on the assessed value of a home, which is a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to calculate the total tax bill. The median home price in Sorento is $41,790, with property tax bills ranging from the 25th percentile at $304 to the 90th percentile at $2,056. The area’s median tax bill is $940, which is significantly lower than the national median of $2,400. However, even with these relatively low tax bills, homeowners can still benefit from appealing their property taxes. Factors such as changes in market conditions or discrepancies in assessment can impact the final tax amount. Ownwell offers expert property tax appeal services, helping homeowners identify potential savings. By leveraging local expertise and comprehensive analysis, Ownwell can assist in reducing property tax burdens, ensuring homeowners in Sorento pay only their fair share.

Property Tax Bills Across Sorento, Bond County, Illinois

Source: Ownwell

$776

$1,253

$1,730

Median Sorento Tax Bill

$940

Median Bond County Tax Bill

$1,285

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Sorento, Bond County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62086	$90	$304	$940	$1,593	$2,056

Source: Ownwell