Latham, Logan County, Illinois Property Taxes

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

Median Latham, IL effective property tax rate: 2.50%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Latham, IL home value: $189,615
Median annual Latham, IL tax bill: $4,610, $2,210 higher than the national median property tax bill of $2,400.

How are property taxes in Logan calculated?

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

Last Updated March 1, 2025

Latham, Logan County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.5%

Estimate Property Tax Bill

$4,740

$4,399

Ownwell’s Latham Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Latham with just two data points. By entering your property's estimated assessed value, our calculator applies Latham’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 Latham, Logan 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, this is the annual process.

In Latham, located in Logan County, Illinois, the effective property tax rate is notably higher than the national median of 1.02%. The median property tax rate in Illinois stands at 2.50%, which is significantly above the national average. This difference highlights the importance of understanding local tax rates, as they directly impact property owners' annual tax bills.

Comparing Latham's property tax rate to other cities within Illinois reveals a consistency in high rates across the state, with Logan County reflecting the state's median rate. For property owners, this underscores the value of staying informed about local tax policies and considering property tax appeal services to ensure fair assessments.

Property Tax Rates Across Latham, 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 Latham Taxx Rate

2.50%

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 Latham, Logan County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62543	2.14%	2.35%	2.50%	2.75%	2.94%

Source: Ownwell

Property Tax Assessment Values Across Latham, Logan County, Illinois

When examining property taxes in Latham, 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 Assessor 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 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 Latham.

For example, the median home price in Latham is $189,615, with tax bills ranging significantly across the county. Zip code 62543 has the highest median home price at $189,615.

Property Tax Assessment Values Across Latham, Logan County, Illinois

Source: Ownwell

$94,710

$201,323

$307,935

Median Latham Market Value

$189,615

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 Latham, Logan County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62543	$72,801	$96,068	$189,615	$240,195	$353,202

Source: Ownwell

Property Tax Bills Across Latham, Logan County, Illinois

In Latham, Logan County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. The median property tax bill in Latham is notably higher than the national median, with amounts ranging from $2,203 at the 25th percentile to $9,537 at the 90th percentile, highlighting the significant variation homeowners can experience. This variation can significantly impact homeowners, as higher property taxes can increase the overall cost of owning a home. Ownwell assists homeowners by providing property tax appeal and exemption services, potentially lowering their tax burden. By reviewing assessments and identifying discrepancies, Ownwell helps ensure that homeowners in Latham are not overpaying on their property taxes, providing peace of mind and potential savings.

Property Tax Bills Across Latham, Logan County, Illinois

Source: Ownwell

$2,414

$5,281

$8,148

Median Latham Tax Bill

$4,610

Median Logan County Tax Bill

$4,059

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Latham, Logan County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62543	$1,478	$2,203	$4,610	$6,270	$9,537

Source: Ownwell