Carlock, Mclean County, Illinois Property Taxes

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

Median Carlock, IL effective property tax rate: 2.41%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Carlock, IL home value: $147,087
Median annual Carlock, IL tax bill: $3,553, $1,153 higher than the national median property tax bill of $2,400.

How are property taxes in McLean calculated?

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

Last Updated March 1, 2025

Carlock, Mclean County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.41%

Estimate Property Tax Bill

$3,545

$3,289

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

Property Tax Rates Across Carlock, Mclean County, Illinois

Local government entities in Illinois set property tax rates, and these can vary significantly within the state. Annually, each county, such as McLean, estimates its required budget to provide essential services. This budget is then divided by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.

In Carlock, located in McLean County, the effective property tax rate is notably higher than the national median rate of 1.02%. This means that residents in Carlock may face higher property tax bills compared to the national average of $2400. However, it's important to note that these rates reflect the needs and services provided by the local government, ensuring that community services are adequately funded.

Comparing Carlock’s effective property tax rate to other cities in Illinois and the median property tax rates in both the state and the U.S. provides valuable insight into how local tax policies impact residents. Understanding these differences is crucial for homeowners seeking to manage their property tax obligations effectively.

Property Tax Rates Across Carlock, Mclean County, Illinois

Source: Ownwell

1.97%

2.39%

2.81%

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 Carlock Tax Rate

2.41%

Median Effective Mclean County Tax Rate

2.62%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Carlock, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61725	1.98%	2.29%	2.41%	2.52%	2.76%

Source: Ownwell

Property Tax Assessment Values Across Carlock, Mclean County, Illinois

When examining property taxes in Carlock, 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 McLean 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 McLean County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the month. 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 Carlock.

For example, the median home price in Carlock is $147,087, with tax bills ranging significantly across the county. Zip code 61725 has the highest median home price at $147,087.

Property Tax Assessment Values Across Carlock, Mclean County, Illinois

Source: Ownwell

$54,762

$156,365

$257,967

Median Carlock Market Value

$147,087

Median Mclean County Market Value

$163,629

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Carlock, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61725	$98,436	$120,282	$147,087	$219,071	$281,245

Source: Ownwell

Property Tax Bills Across Carlock, Mclean County, Illinois

In Carlock, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Homeowners in McLean County experience a median property tax bill of $3,553, significantly higher than the national median of $2,400. This discrepancy can place a financial strain on homeowners, especially those with tax bills in the upper percentiles, such as the 90th percentile where bills reach $6,948. Several factors, including local government budgets and school district funding needs, influence the tax rate, impacting the final bill. Ownwell helps homeowners reduce their property tax bills by providing expert appeal services. By analyzing property assessments and identifying potential inaccuracies, Ownwell can challenge and potentially lower the assessed value, resulting in significant savings. This service ensures homeowners pay only their fair share, alleviating the burden of high property taxes.

Property Tax Bills Across Carlock, Mclean County, Illinois

Source: Ownwell

$1,318

$3,989

$6,659

Median Carlock Tax Bill

$3,553

Median Mclean County Tax Bill

$4,175

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Carlock, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61725	$2,142	$2,778	$3,553	$5,307	$6,948

Source: Ownwell