Mc Leansboro, Hamilton County, Illinois Property Taxes

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

Median MC LEANSBORO, IL effective property tax rate: 1.82%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median MC LEANSBORO, IL home value: $58,029
Median annual MC LEANSBORO, IL tax bill: $1,022, $1,378 lower than the national median property tax bill of $2,400.

How are property taxes in Hamilton calculated?

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

Last Updated March 1, 2025

Mc Leansboro, Hamilton County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.82%

Estimate Property Tax Bill

$1,056

$980

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

Property Tax Rates Across Mc Leansboro, Hamilton County, Illinois

Local government entities set tax rates, which can vary widely within a state. This variation is due to each county annually estimating its required budget to provide services and dividing 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.

In MC LEANSBORO, located in Hamilton County, IL, the effective property tax rate stands at 1.82%. This rate is notably higher than the national median property tax rate of 1.02%. When comparing this rate to other cities within Illinois, it becomes evident that MC LEANSBORO's rate reflects the highest median tax rate in the region. This can significantly impact property owners, as a higher tax rate can lead to increased annual tax bills compared to the national median property tax bill of $2400. Understanding these dynamics is crucial for property owners looking to manage their tax liabilities effectively.

Property Tax Rates Across Mc Leansboro, Hamilton County, Illinois

Source: Ownwell

1.35%

1.69%

2.03%

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 Leansboro Taxx Rate

1.82%

Median Effective Hamilton County Taxx Rate

1.77%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Mc Leansboro, Hamilton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62859	0.79%	1.35%	1.82%	2.22%	2.95%

Source: Ownwell

Property Tax Assessment Values Across Mc Leansboro, Hamilton County, Illinois

When examining property taxes in MC LEANSBORO, 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 trends. The Hamilton County Assessment 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 Hamilton 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 MC LEANSBORO.

For example, the median home price in MC LEANSBORO is $58,029, with tax bills ranging significantly across the county. Zip code 62859 has the highest median home price at $58,029.

Property Tax Assessment Values Across Mc Leansboro, Hamilton County, Illinois

Source: Ownwell

$48,474

$84,645

$120,816

Median Mc Leansboro Market Value

$58,029

Median Hamilton County Market Value

$61,740

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Mc Leansboro, Hamilton County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62859	$15,352	$29,958	$58,029	$106,056	$164,696

Source: Ownwell

Property Tax Bills Across Mc Leansboro, Hamilton County, Illinois

In MC Leansboro, located in Hamilton 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 then applied to this assessed value to determine the final tax bill. For homeowners in MC Leansboro, the median property tax bill stands at $1,022, which is below the national median of $2,400. Factors such as home improvements and changes in local tax rates can affect the assessed value, influencing the tax bill. While the 25th percentile tax bill is $431, the 75th percentile reaches $2,016, and the 90th percentile climbs to $3,237, indicating variability based on property value and location. Homeowners in MC Leansboro can benefit from Ownwell's services by appealing their property tax assessments and identifying potential exemptions. By leveraging expert knowledge, Ownwell helps ensure homeowners pay only their fair share, potentially saving them significant amounts on their property taxes.

Property Tax Bills Across Mc Leansboro, Hamilton County, Illinois

Source: Ownwell

$721

$1,500

$2,278

Median Mc Leansboro Tax Bill

$1,022

Median Hamilton County Tax Bill

$1,024

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Mc Leansboro, Hamilton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62859	$195	$431	$1,022	$2,016	$3,237

Source: Ownwell