Wood River, Calhoun County, Illinois Property Taxes

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

Median Wood River, IL effective property tax rate: 2.54%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Wood River, IL home value: $80,568
Median annual Wood River, IL tax bill: $2,043, $357 lower than the national median property tax bill of $2,400.

How are property taxes in Calhoun calculated?

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

Last Updated March 1, 2025

Wood River, Calhoun County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.54%

Estimate Property Tax Bill

$2,046

$1,899

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

Local government entities in Wood River set tax rates, which can vary significantly across Illinois. Each year, Calhoun County calculates its required budget to fund essential services and divides this by the total value of all taxable properties within its jurisdiction. This process determines the property tax rate. While voting and legislation play roles in setting tax rates and budgets, this is essentially how it works annually.

In Wood River, the effective property tax rate is notably higher than the national median of 1.02%. This difference highlights the variation in property tax rates within Illinois. Property owners in Wood River face a higher tax burden compared to the national average, which can impact their financial planning and housing affordability.

Understanding these differences in property tax rates is crucial for homeowners and potential buyers in Wood River. By being informed about local tax rates, property owners can make better financial decisions and explore potential savings through tax appeals or exemptions.

Property Tax Rates Across Wood River, 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 Wood River Tax Rate

2.54%

Median Effective Calhoun County Tax Rate

2.36%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Wood River, Calhoun County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62095	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Wood River, Calhoun County, Illinois

When examining property taxes in Wood River, 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 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 Calhoun County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 Wood River. For example, the median home price in Wood River is $80,568, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Wood River, Calhoun County, Illinois

Source: Ownwell

$53,367

$75,173

$96,978

Median Wood River Market Value

$80,568

Median Calhoun County Market Value

$86,121

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Wood River, Calhoun County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62095	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Wood River, Calhoun County, Illinois

In Wood River, Illinois, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. With a median home price of $80,568, the property tax rate in this region significantly impacts homeowners. The tax bill remains consistent across different percentiles at $2,043, which is slightly below the national median property tax bill of $2,400. This suggests that while property values might be lower, the tax rate is relatively high compared to the national median property tax rate of 1.02%.

For homeowners, this means a substantial portion of their annual expenses is directed towards property taxes, potentially affecting their financial planning and housing affordability. Ownwell offers a lifeline by providing property tax appeal and exemption services. By leveraging their expertise, homeowners can potentially reduce their tax bills, ensuring they are not overpaying. This service is invaluable in a region where tax rates can significantly impact a homeowner's budget, helping to alleviate some of the financial burdens associated with property ownership.

Property Tax Bills Across Wood River, Calhoun County, Illinois

Source: Ownwell

$1,115

$1,553

$1,990

Median Wood River Tax Bill

$2,043

Median Calhoun County Tax Bill

$1,736

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Wood River, Calhoun County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62095	N/A	N/A	N/A	N/A	N/A

Source: Ownwell