South Beloit, Boone County, Illinois Property Taxes

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

Median South Beloit, IL effective property tax rate: 2.74%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median South Beloit, IL home value: $196,452
Median annual South Beloit, IL tax bill: $5,286, $2,886 higher than the national median property tax bill of $2,400.

How are property taxes in Boone calculated?

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

Last Updated March 1, 2025

South Beloit, Boone County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.74%

Estimate Property Tax Bill

$5,383

$4,995

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

Local government entities in South Beloit, within Boone County, Illinois, set property tax rates that can vary significantly across the state. Each year, counties estimate their budgetary needs to provide essential services and divide this by the total assessed value of all taxable property within their jurisdiction. This process determines the property tax rate. While the setting of tax rates and budgets involves votes and legislation, this is the fundamental annual procedure. In South Beloit, the effective property tax rate is notably higher than the national median of 1.02%. This places a considerable tax burden on property owners compared to other regions. Property tax rates in Illinois are among the highest in the nation, and South Beloit is no exception, with a rate that reflects the state's overall trend. Understanding these rates is crucial for homeowners looking to manage their property tax liabilities effectively.

Property Tax Rates Across South Beloit, 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 South Beloit Tax Rate

2.74%

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 South Beloit, Boone County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61080	2.23%	2.58%	2.74%	2.97%	3.00%

Source: Ownwell

Property Tax Assessment Values Across South Beloit, Boone County, Illinois

When examining property taxes in South Beloit, 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 Boone County Assessor 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 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 South Beloit.

For example, the median home price in South Beloit is $196,452, with tax bills ranging significantly across the county. Zip code 61080 has the highest median home price at $196,452.

Property Tax Assessment Values Across South Beloit, Boone County, Illinois

Source: Ownwell

$148,732

$234,346

$319,959

Median South Beloit Market Value

$196,452

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 South Beloit, Boone County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61080	$111,453	$148,443	$196,452	$273,246	$339,462

Source: Ownwell

Property Tax Bills Across South Beloit, Boone County, Illinois

Property tax bills in South Beloit, Boone County, IL, are determined based on the assessed value of a property, which is a percentage of the market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as property location, improvements, and local budget requirements influence the assessed value. In South Beloit, the median property tax bill is notably higher than the national median of $2,400, with homeowners facing bills around $5,286. This can place a significant financial burden on homeowners, especially those with properties in the higher tax brackets, where bills can reach up to $9,472.

Ownwell offers a valuable service to homeowners by providing property tax appeal and exemption services. By analyzing property assessments and market conditions, Ownwell identifies opportunities for tax reductions. This can lead to substantial savings for homeowners, alleviating some of the financial pressure associated with high property tax bills. With expertise in the local tax landscape, Ownwell ensures homeowners pay only their fair share.

Property Tax Bills Across South Beloit, Boone County, Illinois

Source: Ownwell

$3,764

$6,003

$8,242

Median South Beloit Tax Bill

$5,286

Median Boone County Tax Bill

$4,339

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across South Beloit, Boone County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61080	$3,000	$3,586	$5,286	$7,336	$9,472

Source: Ownwell