Polo, Carroll County, Illinois Property Taxes

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

Median Polo, IL effective property tax rate: 3.11%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Polo, IL home value: $147,510
Median annual Polo, IL tax bill: $5,002, $2,602 higher than the national median property tax bill of $2,400.

How are property taxes in Carroll calculated?

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

Last Updated March 1, 2025

Polo, Carroll County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.11%

Estimate Property Tax Bill

$4,588

$4,257

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

Property Tax Rates Across Polo, Carroll County, Illinois

Local government entities set tax rates, which can vary significantly within a state. This variation arises because each county annually estimates its budgetary needs to provide essential services, then divides that by the total assessed value of all taxable property within its jurisdiction. This calculation determines the property tax rate. While votes and legislation play roles in setting these rates and budgets, this is the essence of the annual process.

In Polo, located in Carroll County, Illinois, the effective property tax rate reflects this process and can be compared to other cities within the state. Illinois is known for having one of the highest property tax rates in the nation, with the median rate far exceeding the national median of 1.02%. This means that property owners in Polo, like those in other parts of the state, often face higher tax bills compared to the national median property tax bill of $2400. Understanding these rates is crucial for homeowners and potential buyers, as they directly impact the cost of owning property in the area.

Property Tax Rates Across Polo, Carroll County, Illinois

Source: Ownwell

1.96%

2.36%

2.76%

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 Polo Tax Rate

3.11%

Median Effective Carroll County Tax Rate

2.34%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Polo, Carroll County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61064	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Polo, Carroll County, Illinois

When examining property taxes in Polo, 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 Carroll 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 Carroll 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 Polo. For example, the median home price in Polo is $147,510, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Polo, Carroll County, Illinois

Source: Ownwell

$54,285

$121,495

$188,704

Median Polo Market Value

$147,510

Median Carroll County Market Value

$86,910

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Polo, Carroll County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61064	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Polo, Carroll County, Illinois

In Polo, located in Carroll County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. With a median home price of $147,510, homeowners typically face property tax bills that can significantly impact their finances. The tax bills vary widely, with those in the 25th percentile paying around $3,578, while those in the 75th percentile face bills of about $7,077. At the 90th percentile, homeowners might encounter bills as high as $11,014. These figures are high compared to the national median property tax bill of $2,400, underscoring the financial burden on homeowners in this area. Ownwell offers expert property tax appeal and exemption services that can help homeowners reduce their tax bills. By analyzing property assessments and identifying potential discrepancies, Ownwell ensures that homeowners are not overpaying. This service not only alleviates financial stress but also provides peace of mind, knowing that property taxes are fair and accurate.

Property Tax Bills Across Polo, Carroll County, Illinois

Source: Ownwell

$1,472

$2,673

$3,873

Median Polo Tax Bill

$5,002

Median Carroll County Tax Bill

$2,178

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Polo, Carroll County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61064	N/A	N/A	N/A	N/A	N/A

Source: Ownwell