Mc Lean, De Witt County, Illinois Property Taxes

Name: Property Tax Bills Across Mc Lean, De Witt County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median MC LEAN, IL effective property tax rate: 3.53%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median MC LEAN, IL home value: $116,582
Median annual MC LEAN, IL tax bill: $5,423, $3,023 higher than the national median property tax bill of $2,400.

How are property taxes in De Witt calculated?

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

Last Updated March 1, 2025

Mc Lean, De Witt County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.53%

Estimate Property Tax Bill

$4,115

$3,819

Ownwell’s MC LEAN Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in MC LEAN with just two data points. By entering your property's estimated assessed value, our calculator applies MC LEAN’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 17039. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Mc Lean, De Witt 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, resulting 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.

MC LEAN in De Witt County, IL, has an effective property tax rate of 3.53%, which is significantly higher than the national median property tax rate of 1.02%. This rate is also the highest in the state, making it a crucial consideration for property owners. Comparing this with the national median property tax bill of $2,400, property owners in MC LEAN face a considerably higher financial obligation. Understanding these differences can help property owners make informed decisions about property investments and budget planning. Whether you're a homeowner or an investor, being aware of these rates is essential for managing your financial commitments effectively.

Property Tax Rates Across Mc Lean, De Witt County, Illinois

Source: Ownwell

1.89%

2.71%

3.53%

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 Mc Lean Tax Rate

3.53%

Median Effective De Witt County Tax Rate

2.10%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Mc Lean, De Witt County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61754	2.12%	2.67%	3.53%	5.63%	10.11%

Source: Ownwell

Property Tax Assessment Values Across Mc Lean, De Witt County, Illinois

When examining property taxes in MC LEAN, 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 De Witt 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 De Witt 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 MC LEAN. For example, the median home price in MC LEAN is $116,582, with tax bills ranging significantly across the county. 61754 has the highest median home price at $116,582.

Property Tax Assessment Values Across Mc Lean, De Witt County, Illinois

Source: Ownwell

$99,259

$142,705

$186,151

Median Mc Lean Market Value

$116,582

Median De Witt County Market Value

$142,472

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Mc Lean, De Witt County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61754	$57,693	$93,753	$116,582	$185,074	$307,068

Source: Ownwell

Property Tax Bills Across Mc Lean, De Witt County, Illinois

In MC LEAN, IL, property tax bills are determined by assessing the property's value and applying the local tax rate. Homeowners in this region face a significant tax burden, with the median property tax bill reaching $5,423, more than double the national median of $2,400. This high tax bill is influenced by various factors, including the assessed value of the home and the local tax rate set by the county. For instance, homeowners in the 90th percentile can expect tax bills as high as $10,573, while those in the 25th percentile pay around $2,987. Such variability can significantly impact homeowners' finances, making it crucial to ensure assessments are accurate and fair. Ownwell offers valuable assistance in this area by providing property tax appeal and exemption services. By reviewing assessments and identifying potential inaccuracies, Ownwell helps homeowners reduce their tax burdens, potentially saving them thousands of dollars. This service can be a game-changer for those looking to manage their property tax expenses effectively.

Property Tax Bills Across Mc Lean, De Witt County, Illinois

Source: Ownwell

$3,183

$4,303

$5,423

Median Mc Lean Tax Bill

$5,423

Median De Witt County Tax Bill

$3,614

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Mc Lean, De Witt County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61754	$2,507	$2,987	$5,423	$6,933	$10,573

Source: Ownwell