Bethany, Moultrie County, Illinois Property Taxes
Median Bethany, IL effective property tax rate: 2.29%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Bethany, IL home value: $84,720
Median annual Bethany, IL tax bill: $1,846, $554 lower than the national median property tax bill of $2,400.
How are property taxes in Moultrie calculated?
Property taxes in Bethany, 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 Bethany’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bethany, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bethany, Moultrie County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.29%
Estimate Property Tax Bill
$1,940
$1,800
Property Tax Rates Across Bethany, Moultrie County, Illinois
Local government entities are responsible for setting tax rates, leading to significant variations within Illinois. This is because each county annually estimates its required budget for services and divides it by the total value of all taxable properties within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
Bethany, located in Moultrie County, has a median property tax rate of 2.29%, significantly higher than the national median of 1.02%. This places Bethany among the higher property tax areas in Illinois. Despite this, the property tax rate in Bethany is consistent with the highest and lowest rates within its ZIP code, which are both 2.29%. When comparing Bethany's effective property tax rate to other cities in Illinois, it becomes evident that property tax rates can vary widely across the state. Understanding these differences can help property owners make informed decisions about their investments and financial planning.
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 Bethany Tax Rate
2.29%
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 Moultrie County Tax Rate
2.15%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bethany, Moultrie County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61914 | 1.33% | 1.87% | 2.29% | 2.72% | 2.91% |
Source: Ownwell
Property Tax Assessment Values Across Bethany, Moultrie County, Illinois
When examining property taxes in Bethany, 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 Moultrie County Assessor's 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.
In Moultrie 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 Bethany. For example, the median home price in Bethany is $84,720, with tax bills ranging significantly across the county. Zip code 61914 has the highest median home price at $84,720.
Property Tax Assessment Values Across Bethany, Moultrie County, Illinois
Source: Ownwell
$34,636
$96,488
$158,340
Median Bethany Market Value
$84,720
Median Moultrie County Market Value
$97,648
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bethany, Moultrie County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61914 | $39,026 | $62,390 | $84,720 | $121,302 | $178,409 |
Source: Ownwell
Property Tax Bills Across Bethany, Moultrie County, Illinois
In Bethany, located in Moultrie County, Illinois, property tax bills are calculated based on the assessed value of a property, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the tax bill. With a median home price of $84,720, homeowners in Bethany experience varying tax bills. For instance, the 25th percentile tax bill is $1,157, while the 75th percentile reaches $2,930, and the 90th percentile climbs to $4,626. The median tax bill in the area is $1,846, which is below the national median of $2,400. These figures highlight the potential financial impact on homeowners, who may find themselves paying more than the national average depending on their property's assessed value.
Ownwell assists homeowners by offering property tax appeal services, potentially lowering their tax bills. By analyzing assessments and identifying discrepancies, Ownwell helps ensure that homeowners are not overpaying, providing significant savings and peace of mind.
Median Bethany Tax Bill
$1,846
Median Moultrie County Tax Bill
$2,121
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Bethany, Moultrie County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61914 | $618 | $1,157 | $1,846 | $2,930 | $4,626 |
Source: Ownwell