Sheldon, Iroquois County, Illinois Property Taxes

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

Median Sheldon, IL effective property tax rate: 3.01%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Sheldon, IL home value: $105,339
Median annual Sheldon, IL tax bill: $3,341, $941 higher than the national median property tax bill of $2,400.

How are property taxes in Iroquois calculated?

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

Last Updated March 1, 2025

Sheldon, Iroquois County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.01%

Estimate Property Tax Bill

$3,171

$2,942

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

Property Tax Rates Across Sheldon, Iroquois County, Illinois

Local government entities determine tax rates, which can vary widely within a state. This variation occurs because each county annually estimates the budget necessary to provide essential services and divides this by the total value of all taxable property within its jurisdiction. This calculation yields the property tax rate. While votes and laws play roles in setting tax rates and budgets, this is the annual process in a nutshell.

In Sheldon, located in Iroquois County, Illinois, the effective property tax rate is notably higher than both the state and national medians. Illinois, in general, is known for having some of the highest property tax rates in the country. The median property tax rate in Sheldon is significantly above the national median rate of 1.02%. When compared to other cities within Illinois, Sheldon's tax rate stands out as one of the highest. Such a rate can have a substantial impact on property owners, influencing decisions on buying, selling, or investing in real estate. Understanding these rates is crucial for homeowners looking to manage their property tax liabilities effectively.

Property Tax Rates Across Sheldon, Iroquois County, Illinois

Source: Ownwell

2.29%

2.65%

3.01%

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 Sheldon Taxx Rate

3.01%

Median Effective Iroquois County Taxx Rate

2.59%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Sheldon, Iroquois County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60966	1.86%	2.40%	3.01%	3.30%	3.85%

Source: Ownwell

Property Tax Assessment Values Across Sheldon, Iroquois County, Illinois

When examining property taxes in Sheldon, 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 Iroquois 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 Iroquois 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 Sheldon. For example, the median home price in Sheldon is $105,339, with tax bills ranging significantly across the county. Zip code 60966 has the highest median home price at $105,339.

Property Tax Assessment Values Across Sheldon, Iroquois County, Illinois

Source: Ownwell

$79,238

$114,214

$149,190

Median Sheldon Market Value

$105,339

Median Iroquois County Market Value

$114,710

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Sheldon, Iroquois County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60966	$22,200	$49,080	$105,339	$190,074	$241,495

Source: Ownwell

Property Tax Bills Across Sheldon, Iroquois County, Illinois

In Sheldon, located in Iroquois County, IL, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. With a median home price of $105,339, the property tax bill varies significantly across different percentiles. For instance, homeowners at the 25th percentile face a tax bill of $1,626, whereas those at the 75th percentile see a bill of $5,436, and at the 90th percentile, it rises to $7,802. The median tax bill in Sheldon is $3,341, which is significantly higher than the national median of $2,400. This disparity highlights the financial burden on homeowners in the area. Ownwell offers a solution by assisting homeowners in appealing their property tax assessments and identifying potential exemptions, ultimately aiming to reduce their tax liability. By leveraging expert knowledge and experience, Ownwell helps ensure that homeowners in Sheldon only pay their fair share, potentially saving them hundreds or even thousands of dollars annually.

Property Tax Bills Across Sheldon, Iroquois County, Illinois

Source: Ownwell

$2,117

$3,220

$4,322

Median Sheldon Tax Bill

$3,341

Median Iroquois County Tax Bill

$3,017

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Sheldon, Iroquois County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60966	$675	$1,626	$3,341	$5,436	$7,802

Source: Ownwell