Shannon, Ogle County, Illinois Property Taxes

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

Median SHANNON, IL effective property tax rate: 2.20%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median SHANNON, IL home value: $182,439
Median annual SHANNON, IL tax bill: $3,994, $1,594 higher than the national median property tax bill of $2,400.

How are property taxes in Ogle calculated?

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

Last Updated March 1, 2025

Shannon, Ogle County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.2%

Estimate Property Tax Bill

$4,014

$3,725

Ownwell’s Shannon Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Shannon with just two data points.

By entering your property's estimated assessed value, our calculator applies Shannon’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 Ogle County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Shannon, Ogle County, Illinois

Local government entities determine tax rates, and these can fluctuate significantly across a state. This is because each county annually calculates its budget to cover essential services, then divides this amount by the total value of all taxable properties within its borders. This calculation establishes the property tax rate. Though there are votes and regulations involved in setting these rates and budgets, this is essentially the yearly process.

Shannon, located in Ogle County, has an effective property tax rate that stands out when compared to other cities in Illinois. Illinois itself has a median property tax rate that is more than double the national median, reflecting the state's reliance on property taxes to fund local services. The tax rate in Shannon mirrors the highest and lowest rates in the region, showing consistency within Ogle County.

By understanding these rates and how they compare to national figures, property owners in Shannon can make informed decisions about property tax appeals and exemptions, potentially saving money and ensuring fair taxation.

Property Tax Rates Across Shannon, Ogle County, Illinois

Source: Ownwell

2.05%

2.35%

2.65%

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 Shannon Tax Rate

2.20%

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 Shannon, Ogle County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61078	1.80%	1.96%	2.20%	2.38%	2.53%

Source: Ownwell

Property Tax Assessment Values Across Shannon, Ogle County, Illinois

When examining property taxes in Shannon, 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 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 Shannon. For example, the median home price in Shannon is $182,439, with tax bills ranging significantly across the county. 61078 has the highest median home price at $182,439.

Property Tax Assessment Values Across Shannon, Ogle County, Illinois

Source: Ownwell

$95,031

$149,638

$204,244

Median Shannon Market Value

$182,439

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 Shannon, Ogle County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61078	$117,256	$134,949	$182,439	$318,048	$405,212

Source: Ownwell

Property Tax Bills Across Shannon, Ogle County, Illinois

In Shannon, located in Ogle County, IL, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the tax bill. With a median home price of $182,439, homeowners here face property tax bills that can vary significantly. The tax bill at the 25th percentile is $2,712, while at the 75th percentile, it climbs to $7,740, and reaches $9,668 at the 90th percentile. These figures are notably higher than the national median property tax bill of $2,400, reflecting the significant impact on homeowners' finances in this region. Ownwell can assist homeowners in Shannon by identifying opportunities for property tax appeals and exemptions. By analyzing the assessed value and comparing it with market trends, Ownwell can help ensure that homeowners are not overpaying, potentially saving them a substantial amount on their property tax bills.

Property Tax Bills Across Shannon, Ogle County, Illinois

Source: Ownwell

$2,011

$3,340

$4,668

Median Shannon Tax Bill

$3,994

Median Ogle County Tax Bill

$3,458

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Shannon, Ogle County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61078	$2,269	$2,712	$3,994	$7,740	$9,668

Source: Ownwell