Lynn Center, Mercer County, Illinois Property Taxes

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

Median Lynn Center, IL effective property tax rate: 2.31%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Lynn Center, IL home value: $161,247
Median annual Lynn Center, IL tax bill: $3,211, $811 higher than the national median property tax bill of $2,400.

How are property taxes in Mercer calculated?

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

Last Updated March 1, 2025

Lynn Center, Mercer County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.31%

Estimate Property Tax Bill

$3,725

$3,457

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

Local government entities in Illinois set property tax rates, which can vary widely within the state. Each county annually 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 Lynn Center, located in Mercer County, the effective property tax rate stands at 2.31%, which is significantly higher than the national median property tax rate of 1.02%. This places Lynn Center among the cities with the highest property tax rates in Illinois. The median property tax bill in Lynn Center is also likely to be higher than the national median of $2400, reflecting the elevated tax rate. By comparing Lynn Center’s effective property tax rate to other cities in Illinois and the median property tax rates in the state and the U.S., property owners can better understand their tax obligations and explore opportunities for appeals or exemptions.

Property Tax Rates Across Lynn Center, 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 Lynn Center Tax Rate

2.31%

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 Lynn Center, Mercer County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61262	1.22%	2.03%	2.31%	2.61%	2.62%

Source: Ownwell

Property Tax Assessment Values Across Lynn Center, Mercer County, Illinois

When examining property taxes in Lynn Center, 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 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 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 Lynn Center. For example, the median home price in Lynn Center is $161,247, with tax bills ranging significantly across the county. Zip code 61262 has the highest median home price at $161,247.

Property Tax Assessment Values Across Lynn Center, Mercer County, Illinois

Source: Ownwell

$90,765

$152,274

$213,783

Median Lynn Center Market Value

$161,247

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 Lynn Center, Mercer County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61262	$14,672	$83,198	$161,247	$220,098	$305,044

Source: Ownwell

Property Tax Bills Across Lynn Center, Mercer County, Illinois

In Lynn Center, 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 in the area is $161,247. Property taxes are determined by multiplying the assessed value by the local tax rate. In Mercer County, tax bills vary significantly, with the 25th percentile at $763 and the 75th percentile reaching $4,480. Some homeowners face even higher bills, with the 90th percentile at $7,123. These figures highlight the variability and potential burden of property taxes on homeowners.

Homeowners in Lynn Center may find their property tax bills higher than the national median bill of $2,400. Factors such as local government budget needs and school funding can influence the rate. To alleviate this financial strain, Ownwell offers expertise in property tax appeals and exemptions, helping homeowners potentially reduce their tax burdens. By analyzing property assessments and identifying discrepancies, Ownwell assists in securing fair tax rates, ensuring homeowners pay only their fair share.

Property Tax Bills Across Lynn Center, Mercer County, Illinois

Source: Ownwell

$1,712

$3,760

$5,808

Median Lynn Center Tax Bill

$3,211

Median Mercer County Tax Bill

$3,661

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Lynn Center, Mercer County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61262	$385	$763	$3,211	$4,480	$7,123

Source: Ownwell