Nebo, Calhoun County, Illinois Property Taxes

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

Median NEBO, IL effective property tax rate: 2.51%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median NEBO, IL home value: $83,529
Median annual NEBO, IL tax bill: $1,686, $714 lower than the national median property tax bill of $2,400.

How are property taxes in Calhoun County calculated?

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

Last Updated March 1, 2025

Nebo, Calhoun County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.51%

Estimate Property Tax Bill

$2,097

$1,946

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

Property Tax Rates Across Nebo, Calhoun County, Illinois

Local government entities set tax rates, which can vary widely within Illinois. 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.

In Nebo, located in Calhoun County, the property tax landscape presents a unique scenario. The effective property tax rate in this area stands at 2.51%, which is significantly higher than the national median of 1.02%. This means property owners in Nebo face a larger financial burden compared to many other regions in the country.

For residents, understanding this context is crucial, as it directly impacts homeownership costs. Comparing Nebo’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. can provide valuable insights for property owners. Recognizing these differences underscores the importance of exploring potential tax appeal and exemption opportunities to mitigate costs.

Property Tax Rates Across Nebo, Calhoun County, Illinois

Source: Ownwell

2.17%

2.35%

2.54%

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 Nebo Taxx Rate

2.51%

Median Effective Calhoun County Taxx Rate

2.36%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Nebo, Calhoun County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62355	1.69%	1.98%	2.51%	2.53%	2.53%

Source: Ownwell

Property Tax Assessment Values Across Nebo, Calhoun County, Illinois

When examining property taxes in Nebo, 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 Calhoun 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 Calhoun 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 Nebo. For example, the median home price in Nebo is $83,529, with tax bills ranging significantly across the county. Zip code 62355 has the highest median home price at $83,529.

Property Tax Assessment Values Across Nebo, Calhoun County, Illinois

Source: Ownwell

$53,367

$75,173

$96,978

Median Nebo Market Value

$83,529

Median Calhoun County Market Value

$86,121

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Nebo, Calhoun County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62355	$16,079	$40,026	$83,529	$153,755	$209,219

Source: Ownwell

Property Tax Bills Across Nebo, Calhoun County, Illinois

In Nebo, located in Calhoun County, Illinois, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value. Homeowners in Nebo face varying tax bills, with the 25th percentile at $664 and the 75th percentile reaching $3,084. These figures indicate a broad range of tax liabilities, influenced by factors such as property location, size, and improvements. The highest median tax bill in the area is $1,686, which is below the national median of $2,400, offering some relief to local homeowners. However, for those at the 90th percentile, tax bills can soar to $4,776, significantly impacting household budgets. Ownwell can assist homeowners in Nebo by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners are not overpaying on their property taxes, potentially saving them hundreds or even thousands of dollars annually.

Property Tax Bills Across Nebo, Calhoun County, Illinois

Source: Ownwell

$1,115

$1,553

$1,990

Median Nebo Tax Bill

$1,686

Median Calhoun County Tax Bill

$1,736

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Nebo, Calhoun County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62355	$407	$664	$1,686	$3,084	$4,776

Source: Ownwell