Oneida, Knox County, Illinois Property Taxes
Median Oneida, IL effective property tax rate: 2.14%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Oneida, IL home value: $93,660
Median annual Oneida, IL tax bill: $1,964, $436 lower than the national median property tax bill of $2,400.
How are property taxes in Knox County calculated?
Property taxes in Oneida, 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 Oneida’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oneida, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Oneida, Knox County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.14%
Estimate Property Tax Bill
$2,004
$1,860
Ownwell’s Oneida Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Oneida with just two data points.
By entering your property's estimated assessed value, our calculator applies Oneida’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 Knox County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Oneida, Knox County, Illinois
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results 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. Below, you can compare Oneida’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
In Illinois, particularly in Knox County, the property tax rate stands at 2.14%, which is notably higher than the national median of 1.02%. This means that homeowners in Oneida pay a significantly larger portion of their home's assessed value in property taxes compared to the average U.S. homeowner. Despite this, the consistency of the tax rate across the county ensures that residents have a predictable tax bill year over year. Understanding these rates can empower homeowners to make informed decisions about their property investments and potential tax appeals.
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 Oneida Tax Rate
2.14%
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 Knox County Tax Rate
2.31%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Oneida, Knox County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61467 | 0.59% | 1.67% | 2.14% | 2.43% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Oneida, Knox County, Illinois
When examining property taxes in Oneida, 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 Knox County assessment 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 Knox 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 Oneida. For example, the median home price in Oneida is $93,660, with tax bills ranging significantly across the county. Zip code 61467 has the highest median home price at $93,660.
Property Tax Assessment Values Across Oneida, Knox County, Illinois
Source: Ownwell
$41,790
$1,323,092
$2,604,393
Median Oneida Market Value
$93,660
Median Knox County Market Value
$78,330
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Oneida, Knox County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61467 | $45,690 | $63,210 | $93,660 | $137,130 | $285,630 |
Source: Ownwell
Property Tax Bills Across Oneida, Knox County, Illinois
Median Oneida Tax Bill
$1,964
Median Knox County Tax Bill
$1,699
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Oneida, Knox County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61467 | $730 | $1,193 | $1,964 | $3,156 | $4,726 |
Source: Ownwell