Joy, Mercer County, Illinois Property Taxes

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

Median JOY, IL effective property tax rate: 2.58%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median JOY, IL home value: $180,218
Median annual JOY, IL tax bill: $4,428, $2,028 higher than the national median property tax bill of $2,400.

How are property taxes in Mercer calculated?

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

Last Updated March 1, 2025

Joy, Mercer County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.58%

Estimate Property Tax Bill

$4,650

$4,315

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

Property Tax Rates Across Joy, Mercer County, Illinois

Local government entities determine tax rates, which can vary greatly within a state. Each county calculates its required budget for services annually and divides this by the total value of all taxable property within its boundaries, resulting in the property tax rate. Although votes and laws play roles in setting these rates and budgets, this is the basic annual process. In JOY, located in Mercer County, Illinois, the property tax rate stands out compared to other cities in the state. Illinois has a median property tax rate of 2.58%, significantly higher than the national median of 1.02%. This difference highlights the importance of understanding local tax rates and their impact on property owners. The median property tax bill in Illinois also surpasses the national median of $2400, reflecting the state's higher rates. By comparing JOY's effective property tax rate to other locations, property owners can gain insights into their tax obligations and potential savings opportunities.

Property Tax Rates Across Joy, Mercer County, Illinois

Source: Ownwell

2.25%

2.50%

2.75%

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 Joy Tax Rate

2.58%

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 Joy, Mercer County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61260	2.18%	2.42%	2.58%	2.68%	2.74%

Source: Ownwell

Property Tax Assessment Values Across Joy, Mercer County, Illinois

When examining property taxes in JOY, 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 the season. 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 JOY.

For example, the median home price in JOY is $180,218, with tax bills ranging significantly across the county. 61260 has the highest median home price at $180,218.

Property Tax Assessment Values Across Joy, Mercer County, Illinois

Source: Ownwell

$90,765

$152,274

$213,783

Median Joy Market Value

$180,218

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 Joy, Mercer County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61260	$43,283	$121,138	$180,218	$284,169	$426,834

Source: Ownwell

Property Tax Bills Across Joy, Mercer County, Illinois

In Joy, located in Mercer 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 here is $180,218, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as local government budgets, school funding, and public services impact the rate, making it crucial for homeowners to understand their assessments. With a median property tax bill of $4,428, Joy residents pay significantly more than the national median of $2,400. For some, tax bills can reach up to $10,873, placing a considerable financial burden on homeowners. Ownwell offers a solution by providing expert property tax appeal services. By analyzing your property's assessed value and comparing it to market trends, Ownwell can identify potential inaccuracies and help reduce your tax bill. With a thorough understanding of local tax regulations, Ownwell ensures homeowners pay only their fair share, potentially saving them thousands of dollars.

Property Tax Bills Across Joy, Mercer County, Illinois

Source: Ownwell

$1,712

$3,760

$5,808

Median Joy Tax Bill

$4,428

Median Mercer County Tax Bill

$3,661

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Joy, Mercer County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61260	$1,427	$3,037	$4,428	$7,000	$10,873

Source: Ownwell