Illinois City, Mercer County, Illinois Property Taxes
Median ILLINOIS CITY, IL effective property tax rate: 2.25%, significantly higher than the national median of 1.02%, but lower than the IL state median of 2.35%.
Median ILLINOIS CITY, IL home value: $176,670
Median annual ILLINOIS CITY, IL tax bill: $3,577, $1,177 higher than the national median property tax bill of $2,400.
How are property taxes in Mercer calculated?
Property taxes in ILLINOIS CITY, 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 ILLINOIS CITY’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in ILLINOIS CITY, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Illinois City, Mercer County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.25%
Estimate Property Tax Bill
$3,975
$3,689
Property Tax Rates Across Illinois City, Mercer 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. Below, you can compare Illinois City's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
Illinois City in Mercer County has an effective property tax rate of 2.25%, which is significantly higher than the national median of 1.02%. This rate is consistent across the region, reflecting the county's approach to budget and services. Property owners in Illinois City are likely paying more compared to many other areas in the country. Understanding these rates can help homeowners make informed decisions about property investments and tax appeals. By comparing these rates to state and national medians, property owners can better assess their financial obligations and explore potential savings through tax appeals.
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 Illinois City Tax Rate
2.25%
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 Mercer County Tax Rate
2.47%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Illinois City, Mercer County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61259 | 1.87% | 2.04% | 2.25% | 2.41% | 2.47% |
Source: Ownwell
Property Tax Assessment Values Across Illinois City, Mercer County, Illinois
When examining property taxes in Illinois City, 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 Mercer 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 Mercer County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Illinois City. For example, the median home price in Illinois City is $176,670, with tax bills ranging significantly across the county. 61259 has the highest median home price at $176,670.
Property Tax Assessment Values Across Illinois City, Mercer County, Illinois
Source: Ownwell
$90,765
$152,274
$213,783
Median Illinois City Market Value
$176,670
Median Mercer County Market Value
$156,489
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Illinois City, Mercer County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61259 | $126,510 | $151,426 | $176,670 | $264,048 | $352,305 |
Source: Ownwell
Property Tax Bills Across Illinois City, Mercer County, Illinois
In Illinois City within Mercer County, IL, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. With the median home price at $176,670, homeowners typically face a property tax bill of $3,577, significantly higher than the national median of $2,400. Factors such as local government budgets and school funding needs heavily influence the tax rate, impacting homeowners' financial planning.
Homeowners in Illinois City can find themselves paying between $2,826 at the 25th percentile to $8,163 at the 90th percentile, highlighting the variability in tax bills. This is where Ownwell's expertise becomes invaluable. By offering comprehensive property tax appeal and exemption services, Ownwell helps homeowners identify potential savings, ensuring they are not overpaying. Leveraging local market insights and assessment reviews, Ownwell can effectively reduce property tax burdens, providing significant financial relief to homeowners.
Median Illinois City Tax Bill
$3,577
Median Mercer County Tax Bill
$3,661
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Illinois City, Mercer County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61259 | $2,234 | $2,826 | $3,577 | $6,100 | $8,163 |
Source: Ownwell