Bement, Piatt County, Illinois Property Taxes

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

Median Bement, IL effective property tax rate: 2.96%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Bement, IL home value: $185,864
Median annual Bement, IL tax bill: $5,530, $3,130 higher than the national median property tax bill of $2,400.

How are property taxes in Piatt calculated?

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

Last Updated March 1, 2025

Bement, Piatt County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.96%

Estimate Property Tax Bill

$5,502

$5,105

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

Property Tax Rates Across Bement, Piatt County, Illinois

As noted earlier, 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. Below, you can compare Bement’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Property Tax Rates Across Bement, Piatt County, Illinois

Source: Ownwell

2.22%

2.71%

3.20%

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 Bement Tax Rate

2.96%

Median Effective Piatt County Tax Rate

2.43%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Bement, Piatt County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61813	2.55%	2.73%	2.96%	3.10%	3.29%

Source: Ownwell

Property Tax Assessment Values Across Bement, Piatt County, Illinois

When examining property taxes in Bement, 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 Piatt 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: Piatt County sends assessment notices 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 Bement. For example, the median home price in Bement is $185,864, with tax bills ranging significantly across the county. Zip code 61813 has the highest median home price at $185,864.

Property Tax Assessment Values Across Bement, Piatt County, Illinois

Source: Ownwell

$123,234

$214,217

$305,199

Median Bement Market Value

$185,864

Median Piatt County Market Value

$166,770

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Bement, Piatt County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61813	$44,940	$80,329	$185,864	$319,799	$436,211

Source: Ownwell

Property Tax Bills Across Bement, Piatt County, Illinois

In Bement, IL, located in Piatt County, 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 $185,864. Property tax rates can vary, affecting the final bill homeowners receive. For instance, while the national median property tax bill is $2,400, homeowners in Bement see a wide range in their tax bills, with the 25th percentile at $2,860, the 75th percentile at $9,465, and the 90th percentile reaching $14,139. This variation highlights the importance of understanding how local tax rates and assessed values impact individual bills. Homeowners in the area often face higher tax bills compared to the national median, which can significantly affect their annual expenses. Ownwell offers valuable services to help homeowners reduce their property tax bills by providing expert guidance on appealing assessments and applying for exemptions, potentially leading to significant savings and easing the financial burden on property owners.

Property Tax Bills Across Bement, Piatt County, Illinois

Source: Ownwell

$3,412

$6,110

$8,807

Median Bement Tax Bill

$5,530

Median Piatt County Tax Bill

$4,197

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Bement, Piatt County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61813	$1,709	$2,860	$5,530	$9,465	$14,139

Source: Ownwell