Belknap, Johnson County, Illinois Property Taxes

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

Median Belknap, IL effective property tax rate: 2.08%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Belknap, IL home value: $45,969
Median annual Belknap, IL tax bill: $822, $1,578 lower than the national median property tax bill of $2,400.

How are property taxes in Johnson calculated?

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

Last Updated March 1, 2025

Belknap, Johnson County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.08%

Estimate Property Tax Bill

$956

$887

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

Property Tax Rates Across Belknap, Johnson County, Illinois

Local government entities determine tax rates, which can differ significantly within a state. Each county calculates its necessary budget for public services annually and divides it by the total value of all taxable properties in its area. This calculation establishes the property tax rate. Although votes and legislation play roles in setting these rates and budgets, this is essentially the yearly procedure.

In Belknap, located in Johnson County, the effective property tax rate stands at 2.08%, which is notably higher than the national median property tax rate of 1.02%. This rate also represents the highest and lowest median tax rate within the region, indicating a uniformity in the tax rate across the area. When compared to the national landscape, Belknap's rate is significantly higher, which could impact property owners' financial planning. Understanding these local variations is crucial for property owners looking to manage their tax liabilities effectively. By staying informed, residents can better navigate the complexities of property tax assessments and make more informed decisions about their properties.

Property Tax Rates Across Belknap, Johnson County, Illinois

Source: Ownwell

2.02%

2.16%

2.30%

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 Belknap Taxx Rate

2.08%

Median Effective Johnson County Taxx Rate

2.14%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Belknap, Johnson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62908	0.89%	1.50%	2.08%	2.50%	3.20%

Source: Ownwell

Property Tax Assessment Values Across Belknap, Johnson County, Illinois

When examining property taxes in Belknap, 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 Johnson 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 Johnson 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 Belknap. For example, the median home price in Belknap is $45,969, with tax bills ranging significantly across the county. Zip code 62908 has the highest median home price at $45,969.

Property Tax Assessment Values Across Belknap, Johnson County, Illinois

Source: Ownwell

$45,969

$73,178

$100,386

Median Belknap Market Value

$45,969

Median Johnson County Market Value

$71,244

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Belknap, Johnson County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62908	$5,001	$18,150	$45,969	$91,074	$138,546

Source: Ownwell

Property Tax Bills Across Belknap, Johnson County, Illinois

In Belknap, located in Johnson County, IL, property tax bills are determined by assessing the property's value and applying the local tax rate. The median home price in Belknap is $45,969, which is significantly lower than the national average. This lower home value contributes to a median tax bill of $822, which contrasts with the national median property tax bill of $2,400. Factors influencing property tax bills include the property's assessed value and the local tax rate, which can vary within the county. Homeowners in Belknap may face tax bills ranging from the 25th percentile at $237 to the 90th percentile at $2,968, reflecting differences in property values and exemptions. Ownwell assists homeowners by identifying potential savings through property tax appeals and exemptions. By analyzing local market trends and property assessments, Ownwell can help ensure that homeowners are not overpaying on their tax bills, providing expert guidance to secure the most favorable tax outcomes.

Property Tax Bills Across Belknap, Johnson County, Illinois

Source: Ownwell

$822

$1,256

$1,689

Median Belknap Tax Bill

$822

Median Johnson County Tax Bill

$1,237

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Belknap, Johnson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62908	$125	$237	$822	$1,848	$2,968

Source: Ownwell