Flanagan, Livingston County, Illinois Property Taxes

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

Median Flanagan, IL effective property tax rate: 3.17%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Flanagan, IL home value: $154,971
Median annual Flanagan, IL tax bill: $5,006, $2,606 higher than the national median property tax bill of $2,400.

How are property taxes in Livingston calculated?

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

Last Updated March 1, 2025

Flanagan, Livingston County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.17%

Estimate Property Tax Bill

$4,913

$4,559

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

Property Tax Rates Across Flanagan, Livingston 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. 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.

In Flanagan, Livingston County, Illinois, property tax rates are notably higher than the national median. The effective property tax rate here stands at 3.17%, significantly exceeding the national median of 1.02%. This places Flanagan among the higher taxed areas in the U.S. in terms of property tax rates.

When compared to other cities in Illinois, the rate in Flanagan is consistent with the state's highest median rate, reflecting a broader trend within the region. This higher rate can lead to larger tax bills, impacting homeowners' financial planning. Understanding these rates is crucial for property owners who are considering appealing their property taxes or seeking exemptions. By staying informed, property owners can better navigate the complexities of property taxation in Illinois and potentially reduce their tax burdens.

Property Tax Rates Across Flanagan, Livingston County, Illinois

Source: Ownwell

2.69%

3.10%

3.51%

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 Flanagan Tax Rate

3.17%

Median Effective Livingston County Tax Rate

3.02%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Flanagan, Livingston County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61740	2.65%	2.93%	3.17%	3.52%	3.74%

Source: Ownwell

Property Tax Assessment Values Across Flanagan, Livingston County, Illinois

When examining property taxes in Flanagan, 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 Livingston 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 Livingston 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 Flanagan. For example, the median home price in Flanagan is $154,971, with tax bills ranging significantly across the county. 61740 has the highest median home price at $154,971.

Property Tax Assessment Values Across Flanagan, Livingston County, Illinois

Source: Ownwell

$103,203

$160,239

$217,275

Median Flanagan Market Value

$154,971

Median Livingston County Market Value

$144,219

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Flanagan, Livingston County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61740	$63,241	$113,604	$154,971	$220,029	$310,897

Source: Ownwell

Property Tax Bills Across Flanagan, Livingston County, Illinois

In Flanagan, located in Livingston 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 $154,971, homeowners in Flanagan face property tax bills that can vary significantly. The tax bill at the 25th percentile is $3,704, while at the 75th percentile, it rises to $7,018, and at the 90th percentile, it can reach up to $10,927. These figures are notably higher than the national median property tax bill of $2,400, reflecting the substantial burden on local homeowners.

Factors such as changes in property value, local tax rates, and assessment practices contribute to the calculation of these bills. Homeowners may find these costs challenging, but Ownwell offers a solution by providing property tax appeal and exemption services. By leveraging expert knowledge and experience, Ownwell can help homeowners potentially reduce their tax liabilities, ensuring they do not pay more than their fair share. This can lead to significant savings and financial relief for property owners in Flanagan.

Property Tax Bills Across Flanagan, Livingston County, Illinois

Source: Ownwell

$3,410

$5,342

$7,273

Median Flanagan Tax Bill

$5,006

Median Livingston County Tax Bill

$4,592

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Flanagan, Livingston County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61740	$2,843	$3,704	$5,006	$7,018	$10,927

Source: Ownwell