Spring Valley, Bureau County, Illinois Property Taxes

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

Median Spring Valley, IL effective property tax rate: 2.91%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Spring Valley, IL home value: $84,771
Median annual Spring Valley, IL tax bill: $2,391, $9 lower than the national median property tax bill of $2,400.

How are property taxes in Bureau calculated?

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

Last Updated March 1, 2025

Spring Valley, Bureau County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.91%

Estimate Property Tax Bill

$2,467

$2,289

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

Local government entities determine tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates the budget required to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.

In Spring Valley, located in Bureau County, Illinois, the effective property tax rate is notably higher than the national median. Illinois, known for its relatively high property tax rates, sees Spring Valley reflecting this trend. The city's effective property tax rate surpasses both the state and national medians, making it one of the higher rates not only in Illinois but also compared to the U.S. average. This comparison highlights the importance of understanding local tax assessments and potential opportunities for appeals or exemptions to manage property tax liabilities effectively. Engaging with property tax professionals can provide valuable insights and strategies to navigate these complexities, ensuring that property owners are not overpaying on their tax bills.

Property Tax Rates Across Spring Valley, 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 Spring Valley Tax Rate

2.91%

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 Spring Valley, Bureau County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61362	1.75%	2.44%	2.91%	3.37%	3.75%

Source: Ownwell

Property Tax Assessment Values Across Spring Valley, Bureau County, Illinois

When examining property taxes in Spring Valley, 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 Spring Valley.

For example, the median home price in Spring Valley is $84,771, with tax bills ranging significantly across the county. Zip code 61362 has the highest median home price at $84,771.

Property Tax Assessment Values Across Spring Valley, Bureau County, Illinois

Source: Ownwell

$45,459

$138,476

$231,492

Median Spring Valley Market Value

$84,771

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 Spring Valley, Bureau County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61362	$37,023	$57,927	$84,771	$134,486	$186,830

Source: Ownwell

Property Tax Bills Across Spring Valley, Bureau County, Illinois

In Spring Valley, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. Factors such as the property's location, size, and any improvements are considered in this assessment. The median home price in Spring Valley is $84,771, which influences the property tax bill that homeowners receive. With a tax bill at the 25th percentile being $1,470 and the 75th percentile reaching $3,936, homeowners can face significant variations depending on their property's assessed value. The median property tax bill in the area is $2,391, which is slightly below the national median of $2,400. This can impact homeowners' budgets, making it essential to ensure their property's assessed value is accurate. Ownwell offers services to help homeowners in Spring Valley potentially reduce their property tax bills. By providing expert guidance on appealing assessments and securing exemptions, Ownwell can assist homeowners in achieving fairer tax bills and alleviating the financial burden of property taxes.

Property Tax Bills Across Spring Valley, Bureau County, Illinois

Source: Ownwell

$514

$2,463

$4,412

Median Spring Valley Tax Bill

$2,391

Median Bureau County Tax Bill

$2,024

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Spring Valley, Bureau County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61362	$817	$1,470	$2,391	$3,936	$5,900

Source: Ownwell