Nebo, Pike County, Illinois Property Taxes

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

Median NEBO, IL effective property tax rate: 1.79%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median NEBO, IL home value: $52,560
Median annual NEBO, IL tax bill: $834, $1,566 lower than the national median property tax bill of $2,400.

How are property taxes in Pike calculated?

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

Last Updated March 1, 2025

Nebo, Pike County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.79%

Estimate Property Tax Bill

$941

$873

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

Property Tax Rates Across Nebo, Pike 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. Below, you can compare NEBO’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 Nebo, Pike County, Illinois

Source: Ownwell

1.79%

2.06%

2.32%

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 Nebo Taxx Rate

1.79%

Median Effective Pike County Taxx Rate

1.93%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Nebo, Pike County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62355	0.66%	1.24%	1.79%	2.15%	2.86%

Source: Ownwell

Property Tax Assessment Values Across Nebo, Pike County, Illinois

When examining property taxes in Nebo, Illinois, 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 Pike County Assessment 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.

Assessment notices: In Pike 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 Nebo. For example, the median home price in Nebo is $52,560, with tax bills ranging significantly across the county. The zip code 62355 has the highest median home price at $52,560.

Property Tax Assessment Values Across Nebo, Pike County, Illinois

Source: Ownwell

$47,175

$66,885

$86,595

Median Nebo Market Value

$52,560

Median Pike County Market Value

$72,180

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Nebo, Pike County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62355	$19,002	$30,960	$52,560	$95,880	$149,142

Source: Ownwell

Property Tax Bills Across Nebo, Pike County, Illinois

In Nebo, Pike County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include property size, location, and any applicable exemptions. With a median home price of $52,560, Nebo homeowners face property tax bills that can vary significantly. While the 25th percentile tax bill is $396, the 75th percentile reaches $2,003, and the 90th percentile peaks at $3,074. These figures highlight the potential burden on homeowners, especially when compared to the national median property tax bill of $2,400. Ownwell assists homeowners by identifying opportunities for tax appeals and exemptions, ensuring they are not overpaying. By leveraging local expertise and data-driven insights, Ownwell can help reduce tax obligations, providing significant savings and peace of mind for homeowners in Nebo and beyond.

Property Tax Bills Across Nebo, Pike County, Illinois

Source: Ownwell

$834

$1,249

$1,663

Median Nebo Tax Bill

$834

Median Pike County Tax Bill

$1,317

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Nebo, Pike County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62355	$203	$396	$834	$2,003	$3,074

Source: Ownwell