Lincoln, Logan County, Illinois Property Taxes

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

Median Lincoln, 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 Lincoln, IL home value: $146,880
Median annual Lincoln, IL tax bill: $3,421, $1,021 higher than the national median property tax bill of $2,400.

How are property taxes in Logan County calculated?

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

Last Updated March 1, 2025

Lincoln, 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

$3,437

$3,189

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

Local government entities are responsible for setting 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 Lincoln’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Lincoln, located in Logan County, has a median property tax rate of 2.34%, which is significantly higher than the national median of 1.02%. This rate places Lincoln among the higher brackets within the state and nationwide. The high property tax rate in Lincoln reflects the local government's budgetary needs and the total assessed value of properties in the area. Understanding these differences can help property owners make informed decisions about potential tax savings and appeals.

Property Tax Rates Across Lincoln, 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 Lincoln 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 Lincoln, Logan County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62656	1.77%	2.10%	2.34%	2.62%	3.24%

Source: Ownwell

Property Tax Assessment Values Across Lincoln, Logan County, Illinois

When examining property taxes in Lincoln, 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 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 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 Lincoln. For example, the median home price in Lincoln is $146,880, with tax bills ranging significantly across the county. Zip code 62656 has the highest median home price at $146,880.

Property Tax Assessment Values Across Lincoln, Logan County, Illinois

Source: Ownwell

$94,710

$201,323

$307,935

Median Lincoln Market Value

$146,880

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 Lincoln, Logan County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62656	$47,700	$86,220	$146,880	$230,130	$321,678

Source: Ownwell

Property Tax Bills Across Lincoln, Logan County, Illinois

In Lincoln, located in 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 value is then multiplied by the local tax rate to determine the final tax bill. The median home price in Lincoln is $146,880, which affects the overall tax bill homeowners can expect. Property tax bills can vary significantly, with the 25th percentile at $1,955 and the 75th percentile reaching $5,516. The highest median tax bill in the area is $3,421, which is above the national median property tax bill of $2,400. For homeowners, these taxes can represent a significant financial burden. However, Ownwell can help homeowners in Lincoln reduce their property tax bills by providing expert property tax appeal and exemption services. By analyzing individual assessments and market conditions, Ownwell identifies opportunities for savings, ensuring homeowners pay only their fair share. This service can lead to substantial savings and financial relief for homeowners in the area.

Property Tax Bills Across Lincoln, Logan County, Illinois

Source: Ownwell

$2,414

$5,281

$8,148

Median Lincoln Tax Bill

$3,421

Median Logan County Tax Bill

$4,059

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Lincoln, Logan County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62656	$1,271	$1,955	$3,421	$5,516	$8,416

Source: Ownwell