New Canton, Pike County, Illinois Property Taxes

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

Median New Canton, IL effective property tax rate: 2.09%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median New Canton, IL home value: $54,000
Median annual New Canton, IL tax bill: $1,022, $1,378 lower than the national median property tax bill of $2,400.

How are property taxes in Pike calculated?

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

Last Updated March 1, 2025

New Canton, Pike County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.09%

Estimate Property Tax Bill

$1,129

$1,047

Ownwell’s New Canton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in New Canton with just two data points. By entering your property's estimated assessed value, our calculator applies New Canton’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 New Canton, Pike County, Illinois

Local government entities determine tax rates, which can differ significantly within a state. Each county annually estimates its budgetary needs to provide essential services and divides this by the total assessed value of all taxable properties within its jurisdiction. This calculation establishes the property tax rate. Although setting tax rates and budgets involves votes and legislation, this is the fundamental yearly process. In New Canton, within Pike County, Illinois, the effective property tax rate stands out when compared to other cities in the state. With a median property tax rate of 2.09%, New Canton surpasses both the Illinois state median and the national median property tax rate of 1.02%. This means property owners in New Canton may face higher tax bills compared to other parts of the country. Understanding these rates can empower property owners to make informed decisions regarding property tax appeals and exemptions, potentially leading to significant savings.

Property Tax Rates Across New Canton, 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 New Canton Tax Rate

2.09%

Median Effective Pike County Tax Rate

1.93%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across New Canton, Pike County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62356	0.99%	1.49%	2.09%	2.47%	2.67%

Source: Ownwell

Property Tax Assessment Values Across New Canton, Pike County, Illinois

When examining property taxes in New Canton, 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 Pike 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 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 New Canton.

For example, the median home price in New Canton is $54,000, with tax bills ranging significantly across the county. Zip code 62356 has the highest median home price at $54,000.

Property Tax Assessment Values Across New Canton, Pike County, Illinois

Source: Ownwell

$47,175

$66,885

$86,595

Median New Canton Market Value

$54,000

Median Pike County Market Value

$72,180

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across New Canton, Pike County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62356	$13,158	$29,370	$54,000	$83,115	$137,643

Source: Ownwell

Property Tax Bills Across New Canton, Pike County, Illinois

In New Canton, located in Pike County, IL, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor and typically represents a percentage of the home's market value. Homeowners in New Canton face a median property tax bill of $1,022, which is significantly lower than the national median of $2,400. However, tax bills can vary widely, with the 25th percentile at $449 and the 90th percentile reaching $2,920. These variations are influenced by factors such as property location, size, and any applicable exemptions. For homeowners, property taxes can represent a substantial financial burden, especially when unexpected increases occur. Ownwell offers a solution by providing property tax appeal and exemption services. By leveraging their expertise, Ownwell can help homeowners identify potential savings and ensure they are not overpaying on their property taxes. This can lead to significant reductions in the annual tax bill, easing the financial strain on homeowners in New Canton.

Property Tax Bills Across New Canton, Pike County, Illinois

Source: Ownwell

$834

$1,249

$1,663

Median New Canton Tax Bill

$1,022

Median Pike County Tax Bill

$1,317

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across New Canton, Pike County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62356	$265	$449	$1,022	$1,784	$2,920

Source: Ownwell