Niota, Hancock County, Illinois Property Taxes

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

Median Niota, IL effective property tax rate: 2.37%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Niota, IL home value: $62,538
Median annual Niota, IL tax bill: $1,358, $1,042 lower than the national median property tax bill of $2,400.

How are property taxes in Hancock calculated?

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

Last Updated March 1, 2025

Niota, Hancock County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.37%

Estimate Property Tax Bill

$1,482

$1,375

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

Property Tax Rates Across Niota, Hancock County, Illinois

Local government entities determine tax rates, which can vary significantly within a state. Each county annually estimates its budget needs to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Though votes and laws play roles in setting these rates and budgets, this is essentially the annual process.

In Niota, Hancock County, Illinois, the effective property tax rate is notably higher than the national median of 1.02%. This rate reflects the county's budgetary requirements and the assessed values of properties. Illinois itself has a median property tax rate of 2.37%, which is one of the highest in the nation, significantly exceeding the national average. This high rate is consistent across Hancock County, highlighting the importance of understanding local tax obligations.

Comparing Niota’s tax rate to other cities in Illinois and the U.S. median provides valuable insight into regional disparities. For property owners, being aware of these differences can aid in financial planning and decision-making regarding property investments.

Property Tax Rates Across Niota, Hancock County, Illinois

Source: Ownwell

2.37%

2.83%

3.28%

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 Niota Tax Rate

2.37%

Median Effective Hancock County Tax Rate

2.85%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Niota, Hancock County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62358	2.22%	2.31%	2.37%	2.44%	2.58%

Source: Ownwell

Property Tax Assessment Values Across Niota, Hancock County, Illinois

When examining property taxes in Niota, 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 Hancock County Assessor's 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 Hancock 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 Niota.

For example, the median home price in Niota is $62,538, with tax bills ranging significantly across the county. Zip code 62358 has the highest median home price at $62,538.

Property Tax Assessment Values Across Niota, Hancock County, Illinois

Source: Ownwell

$14,504

$51,523

$88,542

Median Niota Market Value

$62,538

Median Hancock County Market Value

$54,669

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Niota, Hancock County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62358	$27,225	$37,184	$62,538	$81,916	$86,482

Source: Ownwell

Property Tax Bills Across Niota, Hancock County, Illinois

In Niota, located in Hancock County, IL, property tax bills are calculated by applying the local tax rate to the assessed value of a property. The assessed value is typically a percentage of the property's market value, which in Niota is influenced by the median home price of $62,538. The tax bill can vary significantly, with the 25th percentile at $858 and the 75th percentile reaching $1,870. The highest median tax bill in the area is $1,358, which is also the lowest, highlighting the uniformity within the specific ZIP code of 62358. Compared to the national median property tax rate of 1.02% and a median bill of $2,400, Niota's tax bills are relatively moderate. However, these taxes can still pose a financial burden for homeowners. Ownwell offers valuable assistance by helping homeowners appeal their property tax assessments and identify potential exemptions. By doing so, homeowners can potentially lower their tax bills, making homeownership more affordable and less stressful.

Property Tax Bills Across Niota, Hancock County, Illinois

Source: Ownwell

$404

$1,396

$2,388

Median Niota Tax Bill

$1,358

Median Hancock County Tax Bill

$1,522

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Niota, Hancock County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62358	$629	$858	$1,358	$1,870	$2,097

Source: Ownwell