Bridgeport, Lawrence County, Illinois Property Taxes

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

Median Bridgeport, IL effective property tax rate: 2.06%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Bridgeport, IL home value: $15,791
Median annual Bridgeport, IL tax bill: $472, $1,928 lower than the national median property tax bill of $2,400.

How are property taxes in Lawrence calculated?

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

Last Updated March 1, 2025

Bridgeport, Lawrence County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.06%

Estimate Property Tax Bill

$325

$302

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

Property Tax Rates Across Bridgeport, Lawrence County, Illinois

Local government entities set tax rates, which can vary widely within a state. Each county 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. This annual process involves votes and laws in setting tax rates and budgets.

In Bridgeport, located in Lawrence County, Illinois, the effective property tax rate is notably higher than the national median of 1.02%. Illinois has a median property tax rate of 2.06%, which is significantly above the national average. This higher rate reflects the state's approach to funding local services through property taxes.

Comparing Bridgeport's property tax rate to other cities in Illinois reveals a consistent pattern, as the state's rates are among the highest in the nation. This makes understanding and managing property taxes crucial for homeowners in Bridgeport. By effectively navigating these rates, property owners can ensure they are not overpaying, making the role of property tax consulting services essential in optimizing tax liabilities.

Property Tax Rates Across Bridgeport, Lawrence County, Illinois

Source: Ownwell

2.06%

3.13%

4.19%

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 Bridgeport Taxx Rate

2.06%

Median Effective Lawrence County Taxx Rate

3.07%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Bridgeport, Lawrence County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62417	1.48%	1.93%	2.06%	4.83%	6.58%

Source: Ownwell

Property Tax Assessment Values Across Bridgeport, Lawrence County, Illinois

When examining property taxes in Bridgeport, 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 Lawrence 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 Lawrence 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 Bridgeport. For example, the median home price in Bridgeport is $15,791, with tax bills ranging significantly across the county. ZIP code 62417 has the highest median home price at $15,791.

Property Tax Assessment Values Across Bridgeport, Lawrence County, Illinois

Source: Ownwell

$15,791

$19,981

$24,171

Median Bridgeport Market Value

$15,791

Median Lawrence County Market Value

$22,875

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Bridgeport, Lawrence County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62417	$3,472	$5,854	$15,791	$40,120	$68,814

Source: Ownwell

Property Tax Bills Across Bridgeport, Lawrence County, Illinois

In Bridgeport, located in Lawrence County, IL, property tax bills are calculated based on the assessed value of a home, which is a fraction of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as location, property size, and local government budgets influence the tax rate. Homeowners in Bridgeport face a wide range of tax bills, with the 25th percentile at $154 and the 75th percentile reaching $1,359. The 90th percentile tax bill is $2,353, which is below the national median property tax bill of $2,400. This variation highlights the importance of understanding local property tax assessments to manage expenses effectively. Ownwell offers expert property tax appeal services to help homeowners reduce their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell assists homeowners in securing potential savings, ensuring they only pay their fair share. This service is invaluable for those looking to optimize their property tax expenses.

Property Tax Bills Across Bridgeport, Lawrence County, Illinois

Source: Ownwell

$472

$677

$882

Median Bridgeport Tax Bill

$472

Median Lawrence County Tax Bill

$743

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Bridgeport, Lawrence County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62417	$79	$154	$472	$1,359	$2,353

Source: Ownwell