Neponset, Bureau County, Illinois Property Taxes

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

Median Neponset, IL effective property tax rate: 2.13%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Neponset, IL home value: $57,810
Median annual Neponset, IL tax bill: $1,184, $1,216 lower than the national median property tax bill of $2,400.

How are property taxes in Bureau calculated?

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

Last Updated March 1, 2025

Neponset, Bureau County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.13%

Estimate Property Tax Bill

$1,231

$1,143

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

Property Tax Rates Across Neponset, Bureau County, Illinois

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, 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. Below, you can compare Neponset’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Neponset, located in Bureau County, has a median property tax rate of 2.13%, which is significantly higher than the national median property tax rate of 1.02%. This places Neponset among the regions with the highest property tax rates in Illinois. The state itself has a reputation for higher-than-average property taxes, which can impact homeowners' financial planning. Understanding these rates is crucial for property owners looking to appeal their assessed values or explore exemption opportunities. By comparing Neponset's tax rate to state and national medians, property owners can better navigate their tax liabilities and make informed decisions about potential appeals or exemptions.

Property Tax Rates Across Neponset, Bureau County, Illinois

Source: Ownwell

1.53%

2.27%

3.01%

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 Neponset Tax Rate

2.13%

Median Effective Bureau County Tax Rate

2.33%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Neponset, Bureau County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61345	1.12%	1.64%	2.13%	2.60%	2.95%

Source: Ownwell

Property Tax Assessment Values Across Neponset, Bureau County, Illinois

When examining property taxes in Neponset, 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 Bureau 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.

In Bureau 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 Neponset. For example, the median home price in Neponset is $57,810, with tax bills ranging significantly across the county. Zip code 61345 has the highest median home price at $57,810.

Property Tax Assessment Values Across Neponset, Bureau County, Illinois

Source: Ownwell

$45,459

$138,476

$231,492

Median Neponset Market Value

$57,810

Median Bureau County Market Value

$89,799

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Neponset, Bureau County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61345	$16,509	$35,319	$57,810	$96,351	$140,106

Source: Ownwell

Property Tax Bills Across Neponset, Bureau County, Illinois

In the city of Neponset, located in Bureau County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor’s office. This assessed value is a percentage of the property's estimated market value. The local tax rate is then applied to this assessed value to determine the final tax bill. In Neponset, the median property tax bill stands at $1,184, which is below the national median of $2,400. However, homeowners can experience significant variations, with tax bills ranging from $594 at the 25th percentile to $3,221 at the 90th percentile. These variations can be attributed to differences in property values and the specific tax rates applied. Ownwell offers a valuable service by helping homeowners appeal their property tax assessments, potentially lowering their tax bills. By analyzing property data and market trends, Ownwell identifies opportunities for savings, ensuring homeowners pay only their fair share in property taxes.

Property Tax Bills Across Neponset, Bureau County, Illinois

Source: Ownwell

$514

$2,463

$4,412

Median Neponset Tax Bill

$1,184

Median Bureau County Tax Bill

$2,024

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Neponset, Bureau County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61345	$337	$594	$1,184	$1,888	$3,221

Source: Ownwell