Belvidere, Boone County, Illinois Property Taxes

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

Median Belvidere, IL effective property tax rate: 2.72%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Belvidere, IL home value: $148,732
Median annual Belvidere, IL tax bill: $3,949, $1,549 higher than the national median property tax bill of $2,400.

How are property taxes in Boone County calculated?

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

Last Updated March 1, 2025

Belvidere, Boone County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.72%

Estimate Property Tax Bill

$4,046

$3,754

Ownwell’s Belvidere Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Belvidere with just two data points. By entering your property's estimated assessed value, our calculator applies Belvidere’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 Boone County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Belvidere, Boone County, Illinois

Local government entities in Illinois determine property tax rates, leading to significant variations across the state. This is because each county, including Boone County, calculates its required budget for public services and divides it by the total assessed value of all taxable properties within its borders. This calculation yields the effective property tax rate. While the process involves various votes and legal frameworks, this is the core of how property tax rates are set annually.

In Belvidere, located in Boone County, the effective property tax rate stands out when compared to other cities across Illinois. The median property tax rate in Belvidere is notably higher than the national median property tax rate of 1.02%. This difference highlights the importance of understanding local tax rates, as they can significantly impact property owners. Comparing Belvidere’s tax rate with the median rates in Illinois and the United States provides valuable insight for property owners considering tax appeals and exemptions. Recognizing these differences can help property owners make informed decisions about their property taxes and explore potential savings through appeals and exemptions.

Property Tax Rates Across Belvidere, Boone County, Illinois

Source: Ownwell

2.53%

2.70%

2.87%

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 Belvidere Tax Rate

2.72%

Median Effective Boone County Tax Rate

2.69%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Belvidere, Boone County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61008	2.20%	2.52%	2.72%	2.98%	3.23%

Source: Ownwell

Property Tax Assessment Values Across Belvidere, Boone County, Illinois

When examining property taxes in Belvidere, Illinois, 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 Boone 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 Boone County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Belvidere. For example, the median home price in Belvidere is $148,732, with tax bills ranging significantly across the county. Zip code 61008 has the highest median home price at $148,732.

Property Tax Assessment Values Across Belvidere, Boone County, Illinois

Source: Ownwell

$148,732

$234,346

$319,959

Median Belvidere Market Value

$148,732

Median Boone County Market Value

$166,186

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Belvidere, Boone County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61008	$20,643	$98,269	$148,732	$220,585	$302,096

Source: Ownwell

Property Tax Bills Across Belvidere, Boone County, Illinois

In Belvidere, located in Boone County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is then multiplied by the local tax rate to determine the tax bill. With a median home price of $148,732, property owners in Belvidere face tax bills that can vary widely. The 25th percentile tax bill is $2,516, while the 75th percentile reaches $6,123, and the 90th percentile goes as high as $8,082. This range indicates significant variability in property tax burdens, which can impact homeowners' financial planning. Compared to the national median property tax bill of $2,400, many Belvidere homeowners pay more, highlighting the importance of ensuring their assessments are accurate. Ownwell can assist homeowners by reviewing their assessments and identifying opportunities for appeals or exemptions, potentially leading to significant savings. By leveraging its expertise, Ownwell helps homeowners in Belvidere reduce their property tax bills and achieve greater financial peace of mind.

Property Tax Bills Across Belvidere, Boone County, Illinois

Source: Ownwell

$3,764

$6,003

$8,242

Median Belvidere Tax Bill

$3,949

Median Boone County Tax Bill

$4,339

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Belvidere, Boone County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61008	$646	$2,516	$3,949	$6,123	$8,082

Source: Ownwell