Washburn, Marshall County, Illinois Property Taxes

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

Median Washburn, IL effective property tax rate: 2.56%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Washburn, IL home value: $149,636
Median annual Washburn, IL tax bill: $3,506, $1,106 higher than the national median property tax bill of $2,400.

How are property taxes in Marshall calculated?

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

Last Updated March 1, 2025

Washburn, Marshall County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.56%

Estimate Property Tax Bill

$3,831

$3,555

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

Property Tax Rates Across Washburn, Marshall County, Illinois

Local government entities determine tax rates, and these can vary significantly within a state. This is because annually, each county, like 17123 in Illinois, estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation forms the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the core of the annual process. In Washburn, located in 17123, the effective property tax rate reflects this calculation process. When comparing Washburn's tax rate to other cities in Illinois, it's clear that it aligns with the state's median property tax rate. Illinois has a median property tax rate significantly higher than the national median of 1.02%. This comparison highlights the variance in property tax rates across different regions and underscores the importance of understanding local tax obligations.

Property Tax Rates Across Washburn, 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 Washburn Tax Rate

2.56%

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 Washburn, Marshall County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61570	1.89%	2.27%	2.56%	2.74%	2.90%

Source: Ownwell

Property Tax Assessment Values Across Washburn, Marshall County, Illinois

When examining property taxes in Washburn, 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 Marshall 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 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 Washburn. For example, the median home price in Washburn is $149,636, with tax bills ranging significantly across the county. Zip code 61570 has the highest median home price at $149,636.

Property Tax Assessment Values Across Washburn, Marshall County, Illinois

Source: Ownwell

$114,447

$143,447

$172,446

Median Washburn Market Value

$149,636

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 Washburn, Marshall County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61570	$63,679	$93,008	$149,636	$189,613	$243,448

Source: Ownwell

Property Tax Bills Across Washburn, Marshall County, Illinois

In Washburn, located in Marshall County, IL, property tax bills are determined based on the assessed value of a home. This assessed value is a percentage of the market value, and the local tax rate is applied to calculate the tax bill. Homeowners in Washburn face a median property tax bill of $3,506, which is significantly higher than the national median of $2,400. The tax bill can vary widely depending on the home's value, with the 25th percentile paying $2,262 and the 90th percentile reaching $6,785. These figures indicate a substantial financial commitment for homeowners, particularly when compared to the national median property tax rate of 1.02%.

Ownwell assists homeowners by providing property tax appeal and exemption services, potentially lowering their tax bills. By analyzing property assessments and identifying discrepancies or opportunities for exemptions, Ownwell helps clients achieve significant savings. This service is crucial in a region like Washburn, where property tax bills can be burdensome, ensuring homeowners pay only their fair share.

Property Tax Bills Across Washburn, Marshall County, Illinois

Source: Ownwell

$2,640

$3,558

$4,476

Median Washburn Tax Bill

$3,506

Median Marshall County Tax Bill

$3,331

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Washburn, Marshall County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61570	$1,429	$2,262	$3,506	$5,493	$6,785

Source: Ownwell