Cooksville, Mclean County, Illinois Property Taxes

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

Median Cooksville, IL effective property tax rate: 2.57%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Cooksville, IL home value: $102,276
Median annual Cooksville, IL tax bill: $2,500, $100 higher than the national median property tax bill of $2,400.

How are property taxes in McLean County calculated?

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

Last Updated March 1, 2025

Cooksville, Mclean County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.57%

Estimate Property Tax Bill

$2,628

$2,439

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

Local government entities are responsible for setting tax rates, which can vary significantly within Illinois. Each year, counties estimate the budget required to provide essential services and then divide this by the total value of all taxable properties within their jurisdiction, resulting in the property tax rate. Although laws and votes play a role in determining these rates and budgets, this is the essence of the annual process.

In Cooksville, located in McLean County, the effective property tax rate is 2.57%, which is notably higher than the national median property tax rate of 1.02%. This rate is consistent across the county, with both the highest and lowest median tax rates recorded at 2.57%. When compared to other cities in Illinois, Cooksville's tax rate is among the highest in the state, reflecting the county's budgetary requirements and property values. Understanding these rates is crucial for property owners, as they directly impact annual property tax bills, which can significantly exceed the national median of $2,400.

Property Tax Rates Across Cooksville, 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 Cooksville Tax Rate

2.57%

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 Cooksville, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61730	1.72%	2.34%	2.57%	2.87%	3.22%

Source: Ownwell

Property Tax Assessment Values Across Cooksville, Mclean County, Illinois

When examining property taxes in Cooksville, 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 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 Cooksville. For example, the median home price in Cooksville is $102,276, with tax bills ranging significantly across the county. Zip code 61730 has the highest median home price at $102,276.

Property Tax Assessment Values Across Cooksville, Mclean County, Illinois

Source: Ownwell

$54,762

$156,365

$257,967

Median Cooksville Market Value

$102,276

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 Cooksville, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61730	$41,255	$69,310	$102,276	$155,086	$229,033

Source: Ownwell

Property Tax Bills Across Cooksville, Mclean County, Illinois

In Cooksville, located in McLean County, IL, property tax bills are determined by the assessed value of a home, which is a percentage of its market value, and the local tax rate. The median home price in this area is $102,276. Property tax bills can vary significantly, with the 25th percentile at $1,691 and the 75th percentile at $3,991. The 90th percentile tax bill reaches as high as $6,177. These figures illustrate the range of tax burdens homeowners may face, influenced by factors such as property size, location, and specific neighborhood tax rates. Compared to the national median property tax bill of $2,400, Cooksville's tax bills can be higher, particularly at the upper percentiles. Ownwell assists homeowners by offering property tax appeal and exemption services, potentially reducing their tax liabilities. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners are not overpaying, offering a valuable service that can lead to significant savings on property tax bills.

Property Tax Bills Across Cooksville, Mclean County, Illinois

Source: Ownwell

$1,318

$3,989

$6,659

Median Cooksville Tax Bill

$2,500

Median Mclean County Tax Bill

$4,175

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Cooksville, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61730	$986	$1,691	$2,500	$3,991	$6,177

Source: Ownwell