Boone County Property Taxes
The median property tax rate in Boone County is 2.69%, which is significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $166,186 in Boone County, the typical annual property tax bill reaches $4,339, surpassing the national median of $2,690. Property taxes in Boone County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Boone 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 Belvidere or another part of Boone County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Boone 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 Boone County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Boone County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Boone 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 Boone County, Illinois
Property taxes in Boone County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Boone County is 2.69%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Boone County set these rates annually, and they can vary significantly between different areas within the county. Each year, Boone 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. The following data compares Boone County's effective property tax rate with other counties in Illinois and the national median. For comparison, the city of Capron has one of the higher property tax rates in Illinois at 2.87%, while the city of Kingston boasts one of the lowest at 2.53%. Analyzing how Boone County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Boone County Tax Rate
2.69%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boone County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belvidere | 2.20% | 2.52% | 2.72% | 2.98% | 3.23% |
| Caledonia | 2.29% | 2.46% | 2.64% | 2.76% | 2.89% |
| Capron | 2.32% | 2.71% | 2.87% | 3.11% | 3.26% |
| Cherry Valley | 2.26% | 2.58% | 2.77% | 2.97% | 3.02% |
| Garden Prairie | 2.02% | 2.34% | 2.54% | 2.73% | 2.80% |
| Genoa | 2.48% | 2.53% | 2.60% | 2.76% | 2.90% |
| Harvard | 2.38% | 2.65% | 2.78% | 2.98% | 3.13% |
| Kingston | 2.34% | 2.43% | 2.53% | 2.76% | 2.76% |
| Kirkland | 2.27% | 2.39% | 2.56% | 2.77% | 2.80% |
| Loves Park | 2.45% | 2.63% | 2.74% | 2.77% | 2.80% |
| Marengo | 2.07% | 2.48% | 2.72% | 3.15% | 3.23% |
| Poplar Grove | 2.17% | 2.38% | 2.64% | 2.78% | 2.98% |
| Rockford | 2.47% | 2.54% | 2.65% | 2.68% | 2.74% |
| Roscoe | 2.50% | 2.62% | 2.71% | 2.85% | 2.97% |
| South Beloit | 2.23% | 2.58% | 2.74% | 2.97% | 3.00% |
Source: Ownwell
Property Tax Assessment Values Across Boone County, Illinois
In Boone 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 Boone 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 Boone 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. Being aware of these valuation processes in Boone County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Rockford has the highest median tax bill at $8,149, while Marengo has the lowest at $3,288.
Average Boone County Assessed Value
$166,186
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boone County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belvidere | $20,643 | $98,269 | $148,732 | $220,585 | $302,096 |
| Caledonia | $119,215 | $175,665 | $257,043 | $378,891 | $495,620 |
| Capron | $72,132 | $108,864 | $153,303 | $196,035 | $284,970 |
| Cherry Valley | $151,954 | $189,768 | $252,462 | $315,646 | $374,914 |
| Garden Prairie | $80,202 | $114,771 | $184,194 | $255,177 | $340,924 |
| Genoa | $134,111 | $183,816 | $216,030 | $226,764 | $289,132 |
| Harvard | $85,031 | $148,610 | $186,312 | $240,218 | $304,770 |
| Kingston | $77,657 | $141,942 | $157,110 | $211,749 | $248,355 |
| Kirkland | $124,005 | $167,497 | $243,076 | $315,787 | $398,029 |
| Loves Park | $184,887 | $247,034 | $271,362 | $308,271 | $335,565 |
| Marengo | $26,072 | $41,946 | $130,011 | $209,991 | $229,829 |
| Poplar Grove | $88,749 | $140,276 | $166,598 | $213,416 | $281,084 |
| Rockford | $238,719 | $272,824 | $312,510 | $363,371 | $450,518 |
| Roscoe | $157,502 | $201,846 | $263,072 | $320,520 | $379,091 |
| South Beloit | $111,453 | $148,443 | $196,452 | $273,246 | $339,462 |
Source: Ownwell
Property Tax Bills Across Boone County, Illinois
In Boone County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the median home price, which is $166,186, play a significant role in these calculations. Homeowners in Boone County experience a range of tax bills, with the 25th percentile paying around $2,896 and the 75th percentile facing bills as high as $6,627. For those at the 90th percentile, tax bills can reach up to $8,694. The impact on homeowners varies significantly depending on their property's assessed value and the local tax rate. For instance, the highest median tax bill in the county is found in Rockford at $8,149, while Marengo has the lowest median tax bill at $3,288. These variations highlight the importance of understanding local property assessments and tax rates, as they directly influence the financial burden on homeowners.
Average Boone County Tax Bill
$4,339
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Boone County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Belvidere | $646 | $2,516 | $3,949 | $6,123 | $8,082 |
| Caledonia | $2,797 | $4,322 | $6,689 | $10,088 | $13,573 |
| Capron | $1,291 | $2,937 | $4,276 | $5,606 | $8,321 |
| Cherry Valley | $3,151 | $4,749 | $6,955 | $9,189 | $10,860 |
| Garden Prairie | $1,664 | $2,668 | $4,513 | $6,514 | $8,795 |
| Genoa | $3,765 | $4,306 | $5,460 | $5,756 | $7,874 |
| Harvard | $2,354 | $4,204 | $4,993 | $6,408 | $7,991 |
| Kingston | $2,005 | $3,433 | $3,764 | $5,326 | $6,353 |
| Kirkland | $3,295 | $4,086 | $6,326 | $7,960 | $10,236 |
| Loves Park | $5,131 | $6,644 | $7,416 | $8,568 | $9,531 |
| Marengo | $842 | $1,319 | $3,288 | $4,686 | $5,518 |
| Poplar Grove | $2,241 | $3,345 | $4,196 | $5,783 | $7,551 |
| Rockford | $5,936 | $7,094 | $8,149 | $9,474 | $11,867 |
| Roscoe | $3,416 | $5,268 | $6,889 | $8,903 | $10,661 |
| South Beloit | $3,000 | $3,586 | $5,286 | $7,336 | $9,472 |
Source: Ownwell