Topeka, Mason County, Illinois Property Taxes

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

Median TOPEKA, IL effective property tax rate: 2.91%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median TOPEKA, IL home value: $79,452
Median annual TOPEKA, IL tax bill: $1,930, $470 lower than the national median property tax bill of $2,400.

How are property taxes in Mason calculated?

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

Last Updated March 1, 2025

Topeka, Mason County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.91%

Estimate Property Tax Bill

$2,312

$2,146

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

Property Tax Rates Across Topeka, Mason County, Illinois

Local government entities in Illinois set tax rates, which can vary widely within the state. Why? 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. 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 Topeka’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Property Tax Rates Across Topeka, Mason County, Illinois

Source: Ownwell

2.75%

3.02%

3.29%

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 Topeka Tax Rate

2.91%

Median Effective Mason County Tax Rate

2.98%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Topeka, Mason County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61567	2.23%	2.68%	2.91%	3.19%	3.47%

Source: Ownwell

Property Tax Assessment Values Across Topeka, Mason County, Illinois

When examining property taxes in Topeka, 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 Mason 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. Assessment notices: In Mason 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 Topeka. For example, the median home price in Topeka is $79,452, with tax bills ranging significantly across the county. Zip code 61567 has the highest median home price at $79,452.

Property Tax Assessment Values Across Topeka, Mason County, Illinois

Source: Ownwell

$47,322

$79,688

$112,053

Median Topeka Market Value

$79,452

Median Mason County Market Value

$73,888

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Topeka, Mason County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61567	$10,538	$27,801	$79,452	$112,954	$169,620

Source: Ownwell

Property Tax Bills Across Topeka, Mason County, Illinois

In Topeka, located in Mason County, IL, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to calculate the tax bill. With a median home price of $79,452, homeowners in Topeka can expect varying tax bills. For instance, the tax bill for the 25th percentile is $730, while the 75th percentile sees a bill of $3,423, and the 90th percentile reaches $4,831. The median tax bill in the area is $1,930, which is below the national median property tax bill of $2,400. This relatively lower tax burden can be beneficial for homeowners, but it still represents a significant expense. Ownwell offers services to help homeowners in Topeka reduce their property tax bills. By appealing the assessed value or identifying potential exemptions, Ownwell can assist homeowners in ensuring they are not overpaying, potentially saving them a considerable amount on their annual property tax expenses.

Property Tax Bills Across Topeka, Mason County, Illinois

Source: Ownwell

$1,262

$2,217

$3,171

Median Topeka Tax Bill

$1,930

Median Mason County Tax Bill

$2,133

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Topeka, Mason County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61567	$341	$730	$1,930	$3,423	$4,831

Source: Ownwell