Le Roy, Mclean County, Illinois Property Taxes
- Median LE ROY, IL effective property tax rate: 2.59%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
- Median LE ROY, IL home value: $134,763
- Median annual LE ROY, IL tax bill: $3,359, $959 higher than the national median property tax bill of $2,400.
How are property taxes in McLean calculated?
Property taxes in LE ROY, 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 LE ROY’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in LE ROY, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Le Roy, Mclean County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.59%
Estimate Property Tax Bill
$3,490
$3,239
Property Tax Rates Across Le Roy, 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.
In McLean County, Illinois, Le Roy's effective property tax rate stands out as it mirrors the highest and lowest median tax rates within the region, both at 2.59%. This is significantly higher than the national median property tax rate of 1.02%. The median property tax bill in Le Roy also surpasses the national median of $2,400, reflecting the higher tax rate. Comparing Le Roy's tax rate to other cities in Illinois, it becomes evident that local factors significantly influence property tax rates. These rates are critical for homeowners to understand, as they directly impact annual property tax bills. For those considering property tax appeals or exemptions, understanding these differences is essential in making informed decisions.
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 Le Roy Tax Rate
2.59%
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 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 Le Roy, Mclean County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61752 | 2.01% | 2.36% | 2.59% | 2.76% | 3.03% |
Source: Ownwell
Property Tax Assessment Values Across Le Roy, Mclean County, Illinois
When examining property taxes in Le Roy, 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.
Assessment notices: 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 Le Roy. For example, the median home price in Le Roy is $134,763, with tax bills ranging significantly across the county. 61752 has the highest median home price at $134,763.
Property Tax Assessment Values Across Le Roy, Mclean County, Illinois
Source: Ownwell
$54,762
$156,365
$257,967
Median Le Roy Market Value
$134,763
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 Le Roy, Mclean County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61752 | $74,124 | $97,858 | $134,763 | $178,410 | $236,080 |
Source: Ownwell
Property Tax Bills Across Le Roy, Mclean County, Illinois
In Le Roy, located in McLean County, IL, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in this area is $134,763, meaning the tax bill can vary significantly depending on the property's assessed value. Homeowners in Le Roy experience a median property tax bill of $3,359, which is above the national median of $2,400. Factors such as property location, size, and improvements influence the assessed value, impacting the final tax bill. The tax bill can range from $2,412 at the 25th percentile to $6,359 at the 90th percentile, demonstrating the variability in tax obligations for homeowners.
Ownwell can assist homeowners in Le Roy by providing expert property tax appeal services, potentially lowering their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure that homeowners are not overpaying. This service can lead to significant savings, providing financial relief and peace of mind for property owners in McLean County.
Median Le Roy Tax Bill
$3,359
Median Mclean County Tax Bill
$4,175
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Le Roy, Mclean County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61752 | $1,577 | $2,412 | $3,359 | $4,676 | $6,359 |
Source: Ownwell