Lewistown, Fulton County, Illinois Property Taxes

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

Median Lewistown, IL effective property tax rate: 3.04%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Lewistown, IL home value: $74,129
Median annual Lewistown, IL tax bill: $1,109, $1,291 lower than the national median property tax bill of $2,400.

How are property taxes in Fulton calculated?

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

Last Updated March 1, 2025

Lewistown, Fulton County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.04%

Estimate Property Tax Bill

$2,254

$2,091

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

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

Lewistown in Fulton County, Illinois, stands out with its effective property tax rate of 3.04%, significantly higher than the national median of 1.02%. This high rate reflects the county's budgeting needs and the total assessed property values. Despite the higher rate, it's important to consider the quality of services funded by these taxes, such as education, infrastructure, and public safety. When comparing Lewistown's rate to other regions, it's clear that property owners here face a steeper tax burden. However, understanding the reasons behind these rates can empower property owners to make informed decisions and explore potential tax appeal opportunities.

Property Tax Rates Across Lewistown, Fulton County, Illinois

Source: Ownwell

1.39%

2.49%

3.59%

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 Lewistown Tax Rate

3.04%

Median Effective Fulton County Tax Rate

2.71%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lewistown, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61542	1.53%	2.11%	3.04%	3.05%	3.05%

Source: Ownwell

Property Tax Assessment Values Across Lewistown, Fulton County, Illinois

When examining property taxes in Lewistown, 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 Fulton County assessor 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 Fulton 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 Lewistown. For example, the median home price in Lewistown is $74,129, with tax bills ranging significantly across the county. 61542 has the highest median home price at $74,129.

Property Tax Assessment Values Across Lewistown, Fulton County, Illinois

Source: Ownwell

$26,937

$71,044

$115,150

Median Lewistown Market Value

$74,129

Median Fulton County Market Value

$71,967

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lewistown, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61542	$23,964	$48,078	$74,129	$104,895	$139,084

Source: Ownwell

Property Tax Bills Across Lewistown, Fulton County, Illinois

In Lewistown, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Local tax rates are then applied to this assessed value to determine the annual tax bill. Factors such as local government budgets and school funding needs influence these rates. The median home price in Lewistown is $74,129, resulting in a tax bill that can vary significantly. For instance, homeowners in the 25th percentile might pay around $670, while those in the 75th percentile could see bills up to $1,840. The 90th percentile tax bill can reach $2,681. These figures indicate that property tax bills in Lewistown can be a significant expense for homeowners. With the national median property tax bill at $2,400, many Lewistown residents pay less, but there is still potential for savings. Ownwell offers expert property tax appeal services, helping homeowners contest their assessments and potentially reduce their tax burdens, ensuring they only pay their fair share.

Property Tax Bills Across Lewistown, Fulton County, Illinois

Source: Ownwell

$467

$949

$1,430

Median Lewistown Tax Bill

$1,109

Median Fulton County Tax Bill

$1,058

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Lewistown, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61542	$346	$670	$1,109	$1,840	$2,681

Source: Ownwell