Marshall County, Illinois Property Taxes

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

Median Marshall County effective property tax rate: 2.51%, significantly higher than the national median of 1.02%.
Median Marshall County home value: $137,295
Median annual Marshall County tax bill: $3,331, $931 higher than the national median property tax bill of $2,400.

How are property taxes in Marshall County calculated?

Property taxes in Marshall County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Lacon or another part of Marshall County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Marshall County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.51%

Estimate Property Tax Bill

$3,446

$3,198

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

Property Tax Rates Across Marshall County, Illinois

Local government entities set tax rates, which can vary widely within a state due to differing budgetary needs and property values. Each year, counties estimate the budget required to provide essential services and divide this by the total assessed value of all taxable properties within their jurisdiction. This is how the property tax rate is determined. While votes and laws play a role in setting these rates and budgets, this is the core of the annual process.

You can compare Marshall County's effective property tax rate to other counties within Illinois or the U.S. median property tax rate. Marshall County has a median property tax rate of 2.51%, significantly higher than the national median of 1.02%. Within Illinois, Wenona holds the highest median rate at 2.92%, while Chillicothe offers a more favorable rate at 2.31%. These variations highlight the importance of understanding local tax dynamics and seeking potential savings through property tax appeals.

Property Tax Rates Across Marshall County, Illinois

Source: Ownwell

2.31%

2.62%

2.92%

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 Marshall County Tax Rate

2.51%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Marshall County, Illinois

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Chillicothe	1.86%	2.27%	2.31%	2.48%	2.67%
Henry	1.96%	2.22%	2.35%	2.59%	2.82%
Lacon	1.43%	2.09%	2.43%	2.71%	3.05%
Magnolia	1.67%	2.32%	2.65%	2.82%	2.87%
Rutland	2.25%	2.49%	2.67%	2.88%	3.06%
Sparland	1.88%	2.34%	2.57%	2.74%	2.89%
Toluca	1.73%	2.22%	2.71%	3.03%	3.42%
Varna	1.81%	2.28%	2.49%	2.68%	2.77%
Washburn	1.89%	2.27%	2.56%	2.74%	2.90%
Wenona	2.19%	2.55%	2.92%	3.17%	3.17%
Wyoming	2.05%	2.12%	2.56%	2.67%	3.18%
Bradford	N/A	N/A	N/A	N/A	N/A
Camp Grove	N/A	N/A	N/A	N/A	N/A
Dana	N/A	N/A	N/A	N/A	N/A
Edelstein	N/A	N/A	N/A	N/A	N/A
Hopewell	N/A	N/A	N/A	N/A	N/A
Lostant	N/A	N/A	N/A	N/A	N/A
Minonk	N/A	N/A	N/A	N/A	N/A
Putnam	N/A	N/A	N/A	N/A	N/A
Speer	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Marshall County, Illinois

When examining property taxes in Marshall County, 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 Marshall County Assessor's Office 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.

Assessment notices: In Marshall 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 Marshall County. For example, the median tax bill in Marshall County is $3,400, with tax bills ranging significantly across the county. Wyoming has the highest median home price at $172,446.

Property Tax Assessment Values Across Marshall County, Illinois

Source: Ownwell

$114,447

$143,447

$172,446

Median Marshall County Market Value

$137,295

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Marshall County, Illinois

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Chillicothe	$80,560	$91,605	$136,497	$161,316	$221,999
Henry	$41,049	$83,956	$136,089	$165,728	$267,204
Lacon	$37,354	$67,676	$114,447	$164,055	$214,529
Magnolia	$95,784	$127,900	$168,474	$207,462	$244,528
Rutland	$46,998	$84,820	$135,216	$196,078	$231,884
Sparland	$53,128	$97,797	$146,382	$228,708	$298,643
Toluca	$35,826	$68,736	$119,760	$208,860	$293,250
Varna	$57,076	$91,685	$157,557	$212,798	$361,923
Washburn	$63,679	$93,008	$149,636	$189,613	$243,448
Wenona	$45,808	$70,618	$133,388	$192,584	$253,963
Wyoming	$43,250	$77,091	$172,446	$269,098	$342,965
Bradford	N/A	N/A	N/A	N/A	N/A
Camp Grove	N/A	N/A	N/A	N/A	N/A
Dana	N/A	N/A	N/A	N/A	N/A
Edelstein	N/A	N/A	N/A	N/A	N/A
Hopewell	N/A	N/A	N/A	N/A	N/A
Lostant	N/A	N/A	N/A	N/A	N/A
Minonk	N/A	N/A	N/A	N/A	N/A
Putnam	N/A	N/A	N/A	N/A	N/A
Speer	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Marshall County, Illinois

In Marshall County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the tax bill. For homeowners in this area, property taxes can significantly impact their financial planning. The median home price in Marshall County is approximately $137,295. Homeowners can expect a wide range in their property tax bills, with the 25th percentile paying around $1,822 and the 75th percentile reaching up to $4,978. Those in the 90th percentile could face bills as high as $7,407. Compared to the national median property tax bill of $2,400, Marshall County shows a considerable variation. In specific cities like Magnolia, the highest median tax bill is $4,476, while Chillicothe has the lowest at $2,640. These figures highlight the importance for homeowners to understand their local property tax rates and how their home’s assessed value affects their annual financial obligations.

Property Tax Bills Across Marshall County, Illinois

Source: Ownwell

$2,640

$3,558

$4,476

Median Marshall County Tax Bill

$3,331

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Marshall County, Illinois

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Chillicothe	$1,484	$1,821	$2,640	$3,852	$5,824
Henry	$1,037	$1,876	$3,075	$4,247	$7,138
Lacon	$770	$1,563	$2,711	$4,202	$5,861
Magnolia	$1,910	$2,595	$4,476	$5,559	$6,742
Rutland	$1,383	$2,215	$3,649	$5,552	$6,890
Sparland	$1,202	$2,477	$3,787	$6,130	$8,428
Toluca	$1,003	$1,416	$3,071	$6,023	$8,895
Varna	$980	$1,974	$3,682	$5,437	$10,497
Washburn	$1,429	$2,262	$3,506	$5,493	$6,785
Wenona	$1,043	$2,091	$4,062	$5,803	$8,137
Wyoming	$1,261	$1,799	$3,811	$7,192	$9,236
Bradford	N/A	N/A	N/A	N/A	N/A
Camp Grove	N/A	N/A	N/A	N/A	N/A
Dana	N/A	N/A	N/A	N/A	N/A
Edelstein	N/A	N/A	N/A	N/A	N/A
Hopewell	N/A	N/A	N/A	N/A	N/A
Lostant	N/A	N/A	N/A	N/A	N/A
Minonk	N/A	N/A	N/A	N/A	N/A
Putnam	N/A	N/A	N/A	N/A	N/A
Speer	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

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