Cropsey, Mclean County, Illinois Property Taxes

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

Median Cropsey, IL effective property tax rate: 2.61%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Cropsey, IL home value: $54,762
Median annual Cropsey, IL tax bill: $1,318, $1,082 lower than the national median property tax bill of $2,400.

How are property taxes in McLean calculated?

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

Last Updated March 1, 2025

Cropsey, Mclean County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.61%

Estimate Property Tax Bill

$1,429

$1,326

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

Property Tax Rates Across Cropsey, Mclean County, Illinois

Local government entities determine property tax rates, which can vary significantly within a state. This variation arises because each county annually estimates its required budget to provide services, dividing that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the annual process in a nutshell.

In Cropsey, located in McLean County, Illinois, the effective property tax rate stands at 2.61%. This rate is notably higher than the national median property tax rate of 1.02%. Comparing Cropsey's rate to other cities in Illinois, it's clear that property owners in this area face a relatively high property tax burden. With Illinois having one of the highest median property tax rates in the country, residents in Cropsey contribute significantly to local funding through their property taxes. This higher rate underscores the importance of understanding local tax assessments and exploring potential tax appeals or exemptions to manage property tax liabilities effectively.

Property Tax Rates Across Cropsey, 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 Cropsey Tax Rate

2.61%

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 Cropsey, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61731	1.10%	2.12%	2.61%	2.97%	2.97%

Source: Ownwell

Property Tax Assessment Values Across Cropsey, Mclean County, Illinois

When examining property taxes in Cropsey, 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 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.

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 Cropsey. For example, the median home price in Cropsey is $54,762, with tax bills ranging significantly across the county. The zip code 61731 has the highest median home price at $54,762.

Property Tax Assessment Values Across Cropsey, Mclean County, Illinois

Source: Ownwell

$54,762

$156,365

$257,967

Median Cropsey Market Value

$54,762

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 Cropsey, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61731	$17,690	$33,144	$54,762	$89,556	$142,759

Source: Ownwell

Property Tax Bills Across Cropsey, Mclean County, Illinois

In Cropsey, McLean County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Cropsey is $54,762, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as the local tax rate, exemptions, and the specific assessment practices of McLean County influence the final amount. Homeowners in Cropsey can expect to pay a median property tax bill of $1,318, which is below the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $556 and the 90th percentile reaching $3,607. This variation highlights the importance of ensuring your property is assessed accurately. Ownwell assists homeowners by providing property tax appeal services, potentially lowering their tax bills. Our experts analyze your assessment and identify discrepancies, helping to ensure you only pay your fair share, ultimately saving you money.

Property Tax Bills Across Cropsey, Mclean County, Illinois

Source: Ownwell

$1,318

$3,989

$6,659

Median Cropsey Tax Bill

$1,318

Median Mclean County Tax Bill

$4,175

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Cropsey, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61731	$310	$556	$1,318	$1,935	$3,607

Source: Ownwell