Newton, Jasper County, Illinois Property Taxes

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

Median Newton, IL effective property tax rate: 6.55%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Newton, IL home value: $37,490
Median annual Newton, IL tax bill: $2,002, $398 lower than the national median property tax bill of $2,400.

How are property taxes in Jasper calculated?

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

Last Updated March 1, 2025

Newton, Jasper County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

6.55%

Estimate Property Tax Bill

$2,456

$2,279

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

Property Tax Rates Across Newton, Jasper County, Illinois

Local government entities determine tax rates, which can differ significantly within a state. This variation is due to the fact that each county annually 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 votes and laws play a role in setting tax rates and budgets, this is the core of the annual process. In Newton, located in Jasper County, Illinois, the effective property tax rate is considerably higher than both the state and national medians. With Illinois having a median property tax rate significantly above the national median of 1.02%, property owners in Newton face one of the highest tax burdens in the state. The effective tax rate in Newton is at the top of the spectrum within Illinois, underscoring the importance of understanding local tax obligations. Property owners should be well-informed about these rates, as they can have a substantial impact on overall property costs. Comparing Newton’s effective property tax rate to other cities in Illinois and the U.S. highlights the need for strategic tax planning and potential appeals to manage expenses effectively.

Property Tax Rates Across Newton, Jasper County, Illinois

Source: Ownwell

2.72%

4.95%

7.18%

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 Newton Tax Rate

6.55%

Median Effective Jasper County Tax Rate

6.74%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Newton, Jasper County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62448	2.25%	3.30%	6.55%	7.51%	8.21%

Source: Ownwell

Property Tax Assessment Values Across Newton, Jasper County, Illinois

When examining property taxes in Newton, 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 Jasper 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. Assessment notices: In Jasper 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 Newton. For example, the median home price in Newton is $37,490, with tax bills ranging significantly across the county. Zip code 62448 has the highest median home price at $37,490.

Property Tax Assessment Values Across Newton, Jasper County, Illinois

Source: Ownwell

$22,715

$36,328

$49,940

Median Newton Market Value

$37,490

Median Jasper County Market Value

$34,930

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Newton, Jasper County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62448	$7,728	$18,638	$37,490	$59,535	$90,252

Source: Ownwell

Property Tax Bills Across Newton, Jasper County, Illinois

In Newton, located in Jasper County, IL, property tax bills are calculated based on the assessed value of a property. This assessed value is determined by local assessors who evaluate the market value of the home and then apply an assessment ratio. Homeowners in Newton face a property tax bill that can vary significantly, with the 25th percentile at $954 and the 75th percentile reaching $3,676. Compared to the national median property tax bill of $2,400, Newton's tax bills can be both below and above average, reflecting the diverse property values within the area. Factors such as the property's location, improvements, and market conditions play a crucial role in determining the final tax bill. Homeowners may find these taxes burdensome, especially if their property's assessed value is higher than expected. Ownwell can assist homeowners by reviewing their property assessments and identifying opportunities for appeals or exemptions, potentially lowering their tax bills and ensuring they only pay their fair share.

Property Tax Bills Across Newton, Jasper County, Illinois

Source: Ownwell

$1,501

$2,404

$3,307

Median Newton Tax Bill

$2,002

Median Jasper County Tax Bill

$2,022

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Newton, Jasper County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62448	$333	$954	$2,002	$3,676	$5,602

Source: Ownwell