Sheffield, Bureau County, Illinois Property Taxes

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

Median Sheffield, IL effective property tax rate: 2.33%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Sheffield, IL home value: $76,140
Median annual Sheffield, IL tax bill: $1,619, $781 lower than the national median property tax bill of $2,400.

How are property taxes in Bureau calculated?

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

Last Updated March 1, 2025

Sheffield, Bureau County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.33%

Estimate Property Tax Bill

$1,774

$1,646

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

Local government entities set tax rates, which can vary widely within a state. 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 Sheffield’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Sheffield, located in Bureau County, has a median property tax rate of 2.33%, which is significantly higher than the national median property tax rate of 1.02%. This means that homeowners in Sheffield may face higher property tax bills compared to the national average. Understanding these rates is crucial for property owners looking to manage their expenses effectively. Being informed about local tax rates can also help in making educated decisions regarding property investments and budgeting.

Property Tax Rates Across Sheffield, 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 Sheffield Taxx Rate

2.33%

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 Sheffield, Bureau County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61356	N/A	N/A	N/A	N/A	N/A
61361	1.25%	1.84%	2.33%	2.70%	3.08%

Source: Ownwell

Property Tax Assessment Values Across Sheffield, Bureau County, Illinois

When examining property taxes in Sheffield, 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 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 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 Sheffield.

For example, the median home price in Sheffield is $76,140, with tax bills ranging significantly across the county. Zip code 61361 has the highest median home price at $76,368.

Property Tax Assessment Values Across Sheffield, Bureau County, Illinois

Source: Ownwell

$45,459

$138,476

$231,492

Median Sheffield Market Value

$76,140

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 Sheffield, Bureau County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61356	N/A	N/A	N/A	N/A	N/A
61361	$18,993	$45,256	$76,368	$105,948	$150,402

Source: Ownwell

Property Tax Bills Across Sheffield, Bureau County, Illinois

In Sheffield, located in Bureau County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the home's market value, which in Sheffield is influenced by factors such as location, property size, and market trends. With a median home price of $76,140, homeowners in Sheffield face varying tax bills. For instance, the 25th percentile tax bill is $759, while the 75th percentile reaches $2,552, and the 90th percentile climbs to $3,924. The highest and lowest median tax bills in the area both stand at $1,614 in the 61361 zip code. Compared to the national median property tax bill of $2,400, Sheffield's rates can be more affordable for some homeowners. However, they can still pose a financial burden. Ownwell assists homeowners by identifying potential savings through tax appeals and exemptions, ensuring they pay only their fair share. This service can lead to significant reductions in property tax bills, providing much-needed financial relief.

Property Tax Bills Across Sheffield, Bureau County, Illinois

Source: Ownwell

$514

$2,463

$4,412

Median Sheffield Tax Bill

$1,619

Median Bureau County Tax Bill

$2,024

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Sheffield, Bureau County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61356	N/A	N/A	N/A	N/A	N/A
61361	$311	$758	$1,614	$2,535	$3,924

Source: Ownwell