Chestnut, Logan County, Illinois Property Taxes

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

Median Chestnut, IL effective property tax rate: 2.34%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Chestnut, IL home value: $156,270
Median annual Chestnut, IL tax bill: $3,412, $1,012 higher than the national median property tax bill of $2,400.

How are property taxes in Logan calculated?

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

Last Updated March 1, 2025

Chestnut, Logan County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.34%

Estimate Property Tax Bill

$3,657

$3,393

Ownwell’s Chestnut Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Chestnut with just two data points.

By entering your property's estimated assessed value, our calculator applies Chestnut’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 Logan County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Chestnut, Logan County, Illinois

Local government entities set tax rates, which can vary widely within a state. This variation occurs because annually, 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. Although votes and laws are involved in setting tax rates and budgets, this is essentially the annual process. In Chestnut, located in Logan County, Illinois, the effective property tax rate stands at 2.34%. This rate is significantly higher than the national median property tax rate of 1.02%, highlighting the distinct tax environment in this region. While the national median property tax bill is $2,400, property owners in Chestnut may find themselves paying more due to the higher local tax rate. Comparing Chestnut's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. can provide valuable insights for property owners. Understanding these differences can help residents make informed decisions about property investments and financial planning in the area.

Property Tax Rates Across Chestnut, Logan County, Illinois

Source: Ownwell

2.07%

2.40%

2.74%

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 Chestnut Taxx Rate

2.34%

Median Effective Logan County Taxx Rate

2.39%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Chestnut, Logan County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62518	1.87%	2.11%	2.34%	2.60%	2.76%

Source: Ownwell

Property Tax Assessment Values Across Chestnut, Logan County, Illinois

When examining property taxes in Chestnut, 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 Logan 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 Logan County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 Chestnut. For example, the median home price in Chestnut is $156,270, with tax bills ranging significantly across the county. Zip code 62518 has the highest median home price at $156,270.

Property Tax Assessment Values Across Chestnut, Logan County, Illinois

Source: Ownwell

$94,710

$201,323

$307,935

Median Chestnut Market Value

$156,270

Median Logan County Market Value

$165,735

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Chestnut, Logan County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62518	$74,940	$90,562	$156,270	$231,142	$365,823

Source: Ownwell

Property Tax Bills Across Chestnut, Logan County, Illinois

In Chestnut, located in Logan County, IL, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value, and the local tax rate is applied to this value to determine the tax bill. Homeowners in Chestnut experience varying tax bills, with the 25th percentile at $2,252, the 75th percentile at $5,452, and the 90th percentile reaching $10,072. The median tax bill in the area is $3,412, which is above the national median of $2,400, reflecting the significant impact property taxes can have on homeowners in this region.

Ownwell offers a valuable service to homeowners by providing property tax appeal and exemption assistance. By analyzing property data and identifying discrepancies or opportunities for exemptions, Ownwell helps homeowners potentially lower their tax bills. This service is crucial for those in Chestnut looking to reduce their financial burden, ensuring they pay only their fair share of property taxes.

Property Tax Bills Across Chestnut, Logan County, Illinois

Source: Ownwell

$2,414

$5,281

$8,148

Median Chestnut Tax Bill

$3,412

Median Logan County Tax Bill

$4,059

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Chestnut, Logan County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62518	$1,809	$2,252	$3,412	$5,452	$10,072

Source: Ownwell