Leroy, Mclean County, Illinois Property Taxes

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

Median LEROY, IL effective property tax rate: 2.45%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median LEROY, IL home value: $241,671
Median annual LEROY, IL tax bill: $6,058, $3,658 higher than the national median property tax bill of $2,400.

How are property taxes in McLean calculated?

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

Last Updated March 1, 2025

Leroy, Mclean County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.45%

Estimate Property Tax Bill

$5,921

$5,494

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

Local government entities set tax rates, which can vary widely within a state. This variation is due to each county estimating its required budget to provide services and dividing 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 Leroy, located in McLean County, IL, the effective property tax rate is notably higher than the national median of 1.02%. This means property owners in Leroy may face higher tax bills compared to the national average, which is $2400. When comparing Leroy’s effective property tax rate to other cities in Illinois, it aligns with the state's highest median tax rate of 2.45%, indicating a consistent trend across the region. This comparison highlights how property tax rates in Leroy reflect broader state trends, providing valuable insight for property owners considering appeals or exemptions. Understanding these rates is crucial for homeowners aiming to manage their property tax liabilities effectively.

Property Tax Rates Across Leroy, 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 Leroy Tax Rate

2.45%

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 Leroy, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61752	2.09%	2.25%	2.45%	2.56%	2.59%

Source: Ownwell

Property Tax Assessment Values Across Leroy, Mclean County, Illinois

When examining property taxes in LeRoy, 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 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.

Assessment notices:

In McLean County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May.

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 LeRoy.

For example, the median home price in LeRoy is $241,671, with tax bills ranging significantly across the county. Zip code 61752 has the highest median home price at $241,671.

Property Tax Assessment Values Across Leroy, Mclean County, Illinois

Source: Ownwell

$54,762

$156,365

$257,967

Median Leroy Market Value

$241,671

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 Leroy, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61752	$131,555	$162,006	$241,671	$335,409	$376,880

Source: Ownwell

Property Tax Bills Across Leroy, Mclean County, Illinois

In Leroy, located in McLean County, Illinois, property tax bills are determined 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 calculate the annual tax bill. Factors such as local government budgets and school district funding needs can influence the tax rate, impacting how much homeowners pay each year. With a median home price of $241,671, homeowners in Leroy face property tax bills that can vary significantly. For instance, the 25th percentile tax bill is $3,966, while the 75th percentile reaches $8,452, and the 90th percentile climbs to $9,532. These figures highlight the potential for substantial tax burdens compared to the national median property tax bill of $2,400. Ownwell can assist homeowners by identifying potential savings through property tax appeals and exemptions, ensuring that they are not overpaying. By leveraging local expertise and data-driven insights, Ownwell helps clients achieve reductions in their property tax obligations.

Property Tax Bills Across Leroy, Mclean County, Illinois

Source: Ownwell

$1,318

$3,989

$6,659

Median Leroy Tax Bill

$6,058

Median Mclean County Tax Bill

$4,175

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Leroy, Mclean County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61752	$3,144	$3,966	$6,058	$8,452	$9,532

Source: Ownwell