Danvers, Mclean County, Illinois Property Taxes

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

Median Danvers, IL effective property tax rate: 2.62%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Danvers, IL home value: $150,264
Median annual Danvers, IL tax bill: $3,940, $1,540 higher than the national median property tax bill of $2,400.

How are property taxes in McLean calculated?

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

Last Updated March 1, 2025

Danvers, Mclean County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.62%

Estimate Property Tax Bill

$3,937

$3,653

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

Local government entities set tax rates, which can vary widely within a state. 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. Danvers in McLean County, IL, has an effective property tax rate that is notably higher than the national median. The median property tax rate in Illinois stands at 2.62%, significantly surpassing the national median of 1.02%. This makes Illinois one of the states with the highest property tax rates in the country. Comparing Danvers to other cities within Illinois reveals that the property tax rates are consistent across the state. For homeowners, this means that understanding local tax rates and knowing the appeal process can lead to substantial savings. By staying informed and proactive, property owners in Danvers can navigate the complexities of property taxes more effectively, ensuring they are not overpaying and are taking advantage of any available exemptions.

Property Tax Rates Across Danvers, 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 Danvers Tax Rate

2.62%

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 Danvers, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61732	2.14%	2.45%	2.62%	2.80%	2.94%

Source: Ownwell

Property Tax Assessment Values Across Danvers, Mclean County, Illinois

When examining property taxes in Danvers, 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 McLean County assessment 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 Danvers. For example, the median home price in Danvers is $150,264, with tax bills ranging significantly across the county. 61732 has the highest median home price at $150,264.

Property Tax Assessment Values Across Danvers, Mclean County, Illinois

Source: Ownwell

$54,762

$156,365

$257,967

Median Danvers Market Value

$150,264

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 Danvers, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61732	$89,592	$116,078	$150,264	$199,473	$266,578

Source: Ownwell

Property Tax Bills Across Danvers, Mclean County, Illinois

In Danvers, located in McLean County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Danvers is $150,264, and property tax bills can vary significantly. Homeowners in the 25th percentile pay around $3,016, while those in the 75th percentile face bills of approximately $5,244. For the top 10% of homeowners, tax bills can soar to $6,910. Comparatively, the national median property tax bill is $2,400, indicating that Danvers homeowners often pay higher than average. This can significantly impact household budgets, making it crucial for homeowners to explore ways to reduce their tax burden. Ownwell offers expert property tax appeal services to help homeowners in Danvers potentially lower their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell can assist in securing tax savings, providing much-needed financial relief.

Property Tax Bills Across Danvers, Mclean County, Illinois

Source: Ownwell

$1,318

$3,989

$6,659

Median Danvers Tax Bill

$3,940

Median Mclean County Tax Bill

$4,175

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Danvers, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61732	$2,079	$3,016	$3,940	$5,244	$6,910

Source: Ownwell