Rantoul, Champaign County, Illinois Property Taxes

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

Median Rantoul, IL effective property tax rate: 2.75%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Rantoul, IL home value: $82,935
Median annual Rantoul, IL tax bill: $2,188, $212 lower than the national median property tax bill of $2,400.

How are property taxes in Champaign County calculated?

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

Last Updated March 1, 2025

Rantoul, Champaign County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.75%

Estimate Property Tax Bill

$2,281

$2,116

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

Local government entities set tax rates, which can vary widely within a state. 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. Below, you can compare Rantoul’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Rantoul, located in Champaign County, has a property tax rate of 2.75%, which stands out when compared to the national median property tax rate of 1.02%. This significant difference highlights the importance of understanding local tax rates and their impact on property owners. The property tax rate in Rantoul is notably higher than the national average, which can lead to a higher financial burden for property owners in this area. By being aware of these differences, property owners can make informed decisions and explore potential tax appeal and exemption opportunities to alleviate their tax burden.

Property Tax Rates Across Rantoul, 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 Rantoul Taxx Rate

2.75%

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 Rantoul, Champaign County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61866	1.77%	2.29%	2.75%	3.18%	3.52%

Source: Ownwell

Property Tax Assessment Values Across Rantoul, Champaign County, Illinois

When examining property taxes in Rantoul, 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 Champaign 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 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 Rantoul. For example, the median home price in Rantoul is $82,935, with tax bills ranging significantly across the county. Zip code 61866 has the highest median home price at $82,935.

Property Tax Assessment Values Across Rantoul, Champaign County, Illinois

Source: Ownwell

$64,275

$153,698

$243,120

Median Rantoul Market Value

$82,935

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 Rantoul, Champaign County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61866	$39,780	$55,222	$82,935	$119,670	$158,430

Source: Ownwell

Property Tax Bills Across Rantoul, Champaign County, Illinois

In Rantoul, Champaign County, IL, 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. Factors such as local government budgets, school funding, and public services influence the tax rate. Homeowners in Rantoul face a median property tax bill of $2,188, which is slightly below the national median of $2,400. However, tax bills can range significantly, with the 25th percentile at $1,396 and the 90th percentile reaching $4,470. This variability highlights the impact of property value assessments and local tax rates on individual tax bills.

Ownwell assists homeowners by providing expert property tax appeal services, potentially lowering their tax bills. By analyzing property assessments and comparable market data, Ownwell identifies opportunities for tax reductions. This can lead to significant savings, especially for those in higher tax brackets. Homeowners can benefit from Ownwell's expertise to ensure they are not overpaying on their property taxes, thus easing their financial burden.

Property Tax Bills Across Rantoul, Champaign County, Illinois

Source: Ownwell

$1,191

$3,485

$5,778

Median Rantoul Tax Bill

$2,188

Median Champaign County Tax Bill

$3,816

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Rantoul, Champaign County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61866	$853	$1,396	$2,188	$3,359	$4,470

Source: Ownwell