Westfield, Coles County, Illinois Property Taxes

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

Median Westfield, IL effective property tax rate: 2.39%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Westfield, IL home value: $101,824
Median annual Westfield, IL tax bill: $2,574, $174 higher than the national median property tax bill of $2,400.

How are property taxes in Coles calculated?

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

Last Updated March 1, 2025

Westfield, Coles County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.39%

Estimate Property Tax Bill

$2,434

$2,258

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

Property Tax Rates Across Westfield, Coles 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 Westfield’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Westfield, located in Coles County, Illinois, has a property tax rate that stands out when compared to both state and national medians. With Illinois having a median property tax rate significantly higher than the national average, property owners in Westfield experience a unique tax landscape. This can be attributed to the local government's budgetary needs and the overall assessed value of properties in the area. Understanding these dynamics can be crucial for property owners looking to manage their tax liabilities effectively. By staying informed and considering property tax appeal services, residents can potentially reduce their tax burden and ensure they are not overpaying.

Property Tax Rates Across Westfield, Coles County, Illinois

Source: Ownwell

2.22%

2.64%

3.07%

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 Westfield Tax Rate

2.39%

Median Effective Coles County Tax Rate

2.84%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Westfield, Coles County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62474	2.05%	2.28%	2.39%	2.60%	2.77%

Source: Ownwell

Property Tax Assessment Values Across Westfield, Coles County, Illinois

When examining property taxes in Westfield, 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 Coles 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 Coles County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Westfield.

For example, the median home price in Westfield is $101,824, with tax bills ranging significantly across the county. Zip code 62474 has the highest median home price at $101,824.

Property Tax Assessment Values Across Westfield, Coles County, Illinois

Source: Ownwell

$55,224

$88,860

$122,496

Median Westfield Market Value

$101,824

Median Coles County Market Value

$64,296

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Westfield, Coles County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62474	$23,598	$56,136	$101,824	$151,357	$296,754

Source: Ownwell

Property Tax Bills Across Westfield, Coles County, Illinois

In Westfield, Coles County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as changes in the local tax rate and variations in property values can significantly impact the amount homeowners pay. The median property tax bill in Westfield is $2,574, which aligns closely with the national median property tax bill of $2,400. However, some homeowners experience higher tax bills, with the 75th percentile reaching $3,834 and the 90th percentile climbing to $7,457. These figures highlight the potential financial burden on homeowners. Ownwell offers services to help homeowners reduce their property tax bills by appealing their assessments and securing exemptions. By leveraging expert knowledge and experience, Ownwell can assist homeowners in navigating the complexities of property tax regulations, potentially leading to significant savings and easing the financial burden.

Property Tax Bills Across Westfield, Coles County, Illinois

Source: Ownwell

$1,172

$2,467

$3,762

Median Westfield Tax Bill

$2,574

Median Coles County Tax Bill

$1,659

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Westfield, Coles County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62474	$791	$1,488	$2,574	$3,834	$7,457

Source: Ownwell