Homer, Champaign County, Illinois Property Taxes

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

Median Homer, IL effective property tax rate: 2.22%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Homer, IL home value: $116,100
Median annual Homer, IL tax bill: $2,508, $108 higher than the national median property tax bill of $2,400.

How are property taxes in Champaign calculated?

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

Last Updated March 1, 2025

Homer, Champaign County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.22%

Estimate Property Tax Bill

$2,577

$2,392

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

Property Tax Rates Across Homer, Champaign County, Illinois

Local government entities set tax rates, which can vary widely within a state. Why? 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.

Homer in Champaign County, IL, has an effective property tax rate that reflects the local fiscal needs and property values. Champaign County's median property tax rate is significantly higher than the national median of 1.02%, indicating a robust demand for public services and infrastructure. This rate is consistent across the region, with Homer sharing the same rate as the highest and lowest rates in the county. This suggests a uniform approach to property taxation within this area.

In comparison to the national median property tax bill of $2400, homeowners in Homer may experience higher tax bills due to the elevated tax rate. Understanding these local tax dynamics can be crucial for property owners when planning their finances and considering property investments.

Property Tax Rates Across Homer, Champaign County, Illinois

Source: Ownwell

1.72%

2.45%

3.17%

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 Homer Taxx Rate

2.22%

Median Effective Champaign County Taxx Rate

2.54%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Homer, Champaign County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61849	1.53%	1.99%	2.22%	2.37%	2.73%

Source: Ownwell

Property Tax Assessment Values Across Homer, Champaign County, Illinois

When examining property taxes in Homer, 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 Champaign 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 Champaign 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 Homer.

For example, the median home price in Homer is $116,100, with tax bills ranging significantly across the county. 61849 has the highest median home price at $116,100.

Property Tax Assessment Values Across Homer, Champaign County, Illinois

Source: Ownwell

$64,275

$153,698

$243,120

Median Homer Market Value

$116,100

Median Champaign County Market Value

$152,850

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Homer, Champaign County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61849	$53,706	$86,408	$116,100	$168,788	$273,591

Source: Ownwell

Property Tax Bills Across Homer, Champaign County, Illinois

In Homer, Champaign County, IL, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of its market value. Homeowners in this area face a median property tax bill of $2,508, slightly above the national median of $2,400. With a median home price of $116,100, the property tax rate can significantly impact a homeowner's annual expenses. Factors such as local government budgets and school district funding needs influence the tax rate, making it crucial for homeowners to ensure their property is assessed accurately. The variability in tax bills is evident, with the 25th percentile paying $1,670 and the 90th percentile reaching $6,086. Ownwell can assist homeowners by offering property tax appeal services, ensuring assessments reflect true market values, and identifying potential exemptions. This can lead to substantial savings, reducing the financial burden on homeowners and ensuring they pay only their fair share.

Property Tax Bills Across Homer, Champaign County, Illinois

Source: Ownwell

$1,191

$3,485

$5,778

Median Homer Tax Bill

$2,508

Median Champaign County Tax Bill

$3,816

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Homer, Champaign County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61849	$870	$1,670	$2,508	$3,768	$6,086

Source: Ownwell