Leaf River, Ogle County, Illinois Property Taxes
Median Leaf River, IL effective property tax rate: 2.22%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Leaf River, IL home value: $118,806
Median annual Leaf River, IL tax bill: $2,597, $197 higher than the national median property tax bill of $2,400.
How are property taxes in Ogle calculated?
Property taxes in Leaf River, 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 Leaf River’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Leaf River, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Leaf River, Ogle County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.22%
Estimate Property Tax Bill
$2,637
$2,448
Property Tax Rates Across Leaf River, Ogle County, Illinois
Local government entities set tax rates, which can vary widely within a state. Why? Because 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.
In Leaf River, Ogle County, Illinois, the effective property tax rate stands out when compared to other cities in the state. The median property tax rate here is notably higher than the national median of 1.02%. This high tax rate reflects the county's budgetary needs and the total assessed value of properties within its limits. For residents, this means that property tax bills are also significantly above the national median of $2,400. By understanding these rates and how they are determined, property owners in Leaf River can better navigate their financial obligations and potentially explore appeal options to ensure fair assessments.
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 Leaf River Tax Rate
2.22%
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 Ogle County Tax Rate
2.50%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Leaf River, Ogle County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61047 | 1.40% | 1.96% | 2.22% | 2.50% | 2.57% |
Source: Ownwell
Property Tax Assessment Values Across Leaf River, Ogle County, Illinois
When examining property taxes in Leaf River, 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 Ogle 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.
Assessment notices: In Ogle 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 Leaf River. For example, the median home price in Leaf River is $118,806, with tax bills ranging significantly across the county. Zip code 61047 has the highest median home price at $118,806.
Property Tax Assessment Values Across Leaf River, Ogle County, Illinois
Source: Ownwell
$95,031
$149,638
$204,244
Median Leaf River Market Value
$118,806
Median Ogle County Market Value
$139,425
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Leaf River, Ogle County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61047 | $46,375 | $80,478 | $118,806 | $188,118 | $261,389 |
Source: Ownwell
Property Tax Bills Across Leaf River, Ogle County, Illinois
Median Leaf River Tax Bill
$2,597
Median Ogle County Tax Bill
$3,458
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Leaf River, Ogle County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61047 | $990 | $1,692 | $2,597 | $4,489 | $6,516 |
Source: Ownwell