New Bedford, Bureau County, Illinois Property Taxes

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

Median New Bedford, IL effective property tax rate: 1.96%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median New Bedford, IL home value: $45,459
Median annual New Bedford, IL tax bill: $514, $1,886 lower than the national median property tax bill of $2,400.

How are property taxes in Bureau calculated?

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

Last Updated March 1, 2025

New Bedford, Bureau County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.96%

Estimate Property Tax Bill

$891

$827

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

Local government entities set tax rates, which can vary widely within a state. Each year, counties estimate their required budget for services and divide that by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process. In Bureau County, New Bedford's effective property tax rate is a significant point of interest. With a median property tax rate of 1.96%, New Bedford stands out against the national median property tax rate of 1.02%. This rate is also reflective of the highest and lowest median tax rates within the region, highlighting a consistent tax climate. When compared to other cities in Illinois, New Bedford's rate is considerably higher than the national average, which may influence property owners' decisions regarding tax appeals and exemptions. Understanding these figures is crucial for property owners seeking to manage their tax liabilities effectively.

Property Tax Rates Across New Bedford, 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 New Bedford Taxx Rate

1.96%

Median Effective Bureau County Taxx Rate

2.33%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across New Bedford, Bureau County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61346	0.54%	1.05%	1.96%	2.62%	2.62%

Source: Ownwell

Property Tax Assessment Values Across New Bedford, Bureau County, Illinois

When examining property taxes in New Bedford, 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 Bureau 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 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 New Bedford. For example, the median home price in New Bedford is $45,459, with tax bills ranging significantly across the county. Zip code 61346 has the highest median home price at $45,459.

Property Tax Assessment Values Across New Bedford, Bureau County, Illinois

Source: Ownwell

$45,459

$138,476

$231,492

Median New Bedford Market Value

$45,459

Median Bureau County Market Value

$89,799

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across New Bedford, Bureau County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61346	$8,212	$19,017	$45,459	$76,548	$92,714

Source: Ownwell

Property Tax Bills Across New Bedford, Bureau County, Illinois

In New Bedford, property tax bills are calculated based on the assessed value of a home, which in this area is significantly lower than the national median, with a median home price of $45,459. The property tax rate is applied to this assessed value to determine the tax bill. Factors such as local government budgets and public service needs influence the rate. Homeowners in New Bedford face varied tax bills, with the 25th percentile at $269 and the 75th percentile reaching $1,138. The 90th percentile sees bills as high as $1,703, indicating a broad range of tax burdens. Compared to the national median property tax bill of $2,400, New Bedford offers relatively lower property tax bills. Ownwell aids homeowners by identifying potential savings through property tax appeals and exemptions. By leveraging their expertise, homeowners can ensure their property is fairly assessed, potentially lowering their tax burden and maximizing savings.

Property Tax Bills Across New Bedford, Bureau County, Illinois

Source: Ownwell

$514

$2,463

$4,412

Median New Bedford Tax Bill

$514

Median Bureau County Tax Bill

$2,024

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across New Bedford, Bureau County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61346	$121	$269	$514	$1,138	$1,703

Source: Ownwell