Shannon, Carroll County, Illinois Property Taxes

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

Median SHANNON, IL effective property tax rate: 2.02%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median SHANNON, IL home value: $94,401
Median annual SHANNON, IL tax bill: $1,900, $500 lower than the national median property tax bill of $2,400.

How are property taxes in Carroll calculated?

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

Last Updated March 1, 2025

Shannon, Carroll County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.02%

Estimate Property Tax Bill

$1,907

$1,770

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

Local government entities are responsible for setting tax rates, and these can vary significantly within a state. Each year, counties determine their necessary budget to fund public services and then calculate the property tax rate by dividing this budget by the total assessed value of all taxable properties within their boundaries. This process, which involves votes and legislation, ultimately establishes the annual property tax rate.

In Shannon, situated in Carroll County, Illinois, the effective property tax rate stands at 2.02%. This rate is notably higher than the national median property tax rate of 1.02%, reflecting the local funding requirements and property values. Comparatively, the state's median property tax rate also aligns with Shannon's rate, indicating a consistent tax landscape across Illinois. This consistency can be attributed to the standardized approach counties in Illinois take towards funding essential services.

For residents and property owners in Shannon, understanding these rates is crucial for financial planning and assessing how local taxes contribute to community services. By comparing Shannon’s effective property tax rate to other cities in Illinois and the national median, property owners can better appreciate the factors influencing their tax bills and the value of services received in return.

Property Tax Rates Across Shannon, 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 Shannon Tax Rate

2.02%

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 Shannon, Carroll County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61078	1.30%	1.68%	2.02%	2.34%	2.63%

Source: Ownwell

Property Tax Assessment Values Across Shannon, Carroll County, Illinois

When examining property taxes in Shannon, 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.

Assessment notices: Carroll 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 Shannon.

For example, the median home price in Shannon is $94,401, with tax bills ranging significantly across the county. Zip code 61078 has the highest median home price at $94,401.

Property Tax Assessment Values Across Shannon, Carroll County, Illinois

Source: Ownwell

$54,285

$121,495

$188,704

Median Shannon Market Value

$94,401

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 Shannon, Carroll County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61078	$42,767	$63,231	$94,401	$139,517	$190,349

Source: Ownwell

Property Tax Bills Across Shannon, Carroll County, Illinois

In Shannon, located in Carroll County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property's location, size, and improvements can influence its assessed value. Homeowners in Shannon face a median property tax bill of $1,900, which is below the national median of $2,400, making it relatively affordable compared to other regions. However, with tax bills ranging from $1,104 at the 25th percentile to $4,969 at the 90th percentile, there is a significant variation that can impact homeowners differently. Ownwell can assist homeowners by reviewing their property assessments and identifying potential discrepancies that could lead to overpayment. By filing appeals and seeking exemptions, Ownwell helps ensure that homeowners pay only their fair share, potentially saving them hundreds or even thousands of dollars on their property tax bills.

Property Tax Bills Across Shannon, Carroll County, Illinois

Source: Ownwell

$1,472

$2,673

$3,873

Median Shannon Tax Bill

$1,900

Median Carroll County Tax Bill

$2,178

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Shannon, Carroll County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61078	$645	$1,104	$1,900	$3,033	$4,969

Source: Ownwell