Hanna City, Peoria County, Illinois Property Taxes

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

Median HANNA CITY, IL effective property tax rate: 2.30%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median HANNA CITY, IL home value: $128,040
Median annual HANNA CITY, IL tax bill: $2,903, $503 higher than the national median property tax bill of $2,400.

How are property taxes in Peoria calculated?

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

Last Updated March 1, 2025

Hanna City, Peoria County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.3%

Estimate Property Tax Bill

$2,945

$2,733

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

Property Tax Rates Across Hanna City, Peoria County, Illinois

Local government entities set tax rates, which can vary widely within a state. This variation stems from the fact that each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. The resulting figure is the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.

In Hanna City, located in Peoria County, Illinois, the effective property tax rate stands at 2.30%. This rate is notably higher than the national median property tax rate of 1.02%. This means that property owners in Hanna City may find themselves paying a larger portion of their property's assessed value in taxes compared to the national average. Additionally, Peoria County's tax rate is consistent across the board, as Hanna City shares the same rate with other areas in the county. This uniformity suggests a streamlined approach to budgeting and service provision within the county. Understanding these rates can help property owners in Hanna City better anticipate their annual property tax bills and plan accordingly.

Property Tax Rates Across Hanna City, Peoria County, Illinois

Source: Ownwell

2.10%

2.66%

3.22%

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 Hanna City Tax Rate

2.30%

Median Effective Peoria County Tax Rate

2.68%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hanna City, Peoria County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61536	1.75%	2.10%	2.30%	2.49%	2.82%

Source: Ownwell

Property Tax Assessment Values Across Hanna City, Peoria County, Illinois

When examining property taxes in Hanna City, 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 Peoria 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 Peoria 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 Hanna City.

For example, the median home price in Hanna City is $128,040, with tax bills ranging significantly across the county. 61536 has the highest median home price at $128,040.

Property Tax Assessment Values Across Hanna City, Peoria County, Illinois

Source: Ownwell

$15,870

$133,065

$250,260

Median Hanna City Market Value

$128,040

Median Peoria County Market Value

$93,150

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hanna City, Peoria County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61536	$38,979	$84,922	$128,040	$179,220	$252,495

Source: Ownwell

Property Tax Bills Across Hanna City, Peoria County, Illinois

In Hanna City, located in Peoria County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. With a median home price of $128,040, homeowners in Hanna City face a median property tax bill of approximately $2,903, which is slightly above the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $1,767 and the 90th percentile reaching up to $6,104. These variations depend on factors such as home value, location, and available exemptions. High property taxes can be a financial burden on homeowners, but Ownwell can help alleviate this by providing property tax appeal and exemption services. By reviewing your property's assessed value and identifying potential savings, Ownwell ensures you pay only what is necessary, helping to reduce your property tax bill effectively.

Property Tax Bills Across Hanna City, Peoria County, Illinois

Source: Ownwell

$439

$3,464

$6,489

Median Hanna City Tax Bill

$2,903

Median Peoria County Tax Bill

$2,323

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Hanna City, Peoria County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61536	$810	$1,767	$2,903	$4,081	$6,104

Source: Ownwell