Putnam County, Illinois Property Taxes

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

Median Putnam County effective property tax rate: 2.42%, significantly higher than the national median of 1.02%.
Median Putnam County home value: $129,800
Median annual Putnam County tax bill: $3,342, $942 higher than the national median property tax bill of $2,400.

How are property taxes in Putnam County calculated?

Property taxes in Putnam County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Hennepin or another part of Putnam County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Putnam County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.42%

Estimate Property Tax Bill

$3,141

$2,915

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

Property Tax Rates Across Putnam County, Illinois

Local government entities set tax rates, which can vary widely within a state. 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.

Putnam County's effective property tax rate stands at 2.42%, which is significantly higher than the national median property tax rate of 1.02%. Within Illinois, Putnam County has one of the highest property tax rates, with only a slight difference from the highest median tax rate in the state at 2.61% in the city of Putnam. Conversely, Hennepin in Putnam County holds the lowest median tax rate at 2.25%. Compared to the national median property tax bill of $2400, residents in Putnam County might find themselves paying substantially more due to the elevated tax rate. Understanding these rates can be crucial for homeowners looking to manage their property tax expenses effectively.

Property Tax Rates Across Putnam County, Illinois

Source: Ownwell

2.25%

2.43%

2.61%

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 Putnam County Taxx Rate

2.42%

Median Effective Illinois Taxx Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Putnam County, Illinois

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Granville	2.01%	2.28%	2.45%	2.65%	2.75%
Hennepin	1.79%	2.12%	2.25%	2.41%	2.60%
Lostant	N/A	N/A	N/A	N/A	N/A
Magnolia	1.74%	2.21%	2.53%	2.61%	2.69%
Mark	2.38%	2.38%	2.38%	2.38%	2.71%
Mcnabb	N/A	N/A	N/A	N/A	N/A
Mc Nabb	1.99%	2.24%	2.42%	2.63%	2.66%
Peru	N/A	N/A	N/A	N/A	N/A
Putnam	2.22%	2.49%	2.61%	2.92%	3.05%
Standard	N/A	N/A	N/A	N/A	N/A
Tonica	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Putnam County, Illinois

When examining property taxes in Putnam County, 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 Putnam 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 Putnam 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 Putnam County. For example, the median tax bill in Putnam County is $3,933, with tax bills ranging significantly across the county. Mc Nabb has the highest median home price at $163,008.

Property Tax Assessment Values Across Putnam County, Illinois

Source: Ownwell

$63,051

$113,030

$163,008

Median Putnam County Market Value

$129,800

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Putnam County, Illinois

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Granville	$45,361	$78,812	$149,868	$234,350	$355,589
Hennepin	$25,581	$81,809	$125,858	$186,770	$246,319
Lostant	N/A	N/A	N/A	N/A	N/A
Magnolia	$19,390	$76,075	$124,462	$199,254	$292,193
Mark	$28,627	$46,801	$63,051	$108,007	$117,046
Mcnabb	N/A	N/A	N/A	N/A	N/A
Mc Nabb	$56,932	$110,554	$163,008	$257,848	$290,290
Peru	N/A	N/A	N/A	N/A	N/A
Putnam	$9,054	$24,598	$117,537	$173,901	$248,031
Standard	N/A	N/A	N/A	N/A	N/A
Tonica	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Putnam County, Illinois

In Putnam County, IL, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of its market value. Homeowners in the county face a median tax bill of $3,933, notably higher than the national median of $2,400. The tax bill can vary significantly within the county, with homeowners in Mc Nabb experiencing the highest median tax bill at $3,933, while those in Mark have the lowest at $1,976. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill in the county is $1,924, while the 75th percentile reaches $5,387, and the 90th percentile climbs to $7,737. These variations highlight the impact of property value assessments and local tax policies on homeowners. Understanding these factors is crucial for homeowners seeking to manage their tax obligations effectively within the context of their property's valuation and local tax regulations.

Property Tax Bills Across Putnam County, Illinois

Source: Ownwell

$1,976

$2,955

$3,933

Median Putnam County Tax Bill

$3,342

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Putnam County, Illinois

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Granville	$1,311	$2,208	$3,931	$6,194	$9,438
Hennepin	$994	$1,891	$2,853	$4,399	$6,117
Lostant	N/A	N/A	N/A	N/A	N/A
Magnolia	$1,295	$2,110	$3,204	$5,944	$7,349
Mark	$468	$1,143	$1,976	$2,607	$2,761
Mcnabb	N/A	N/A	N/A	N/A	N/A
Mc Nabb	$1,286	$2,372	$3,933	$5,669	$7,012
Peru	N/A	N/A	N/A	N/A	N/A
Putnam	$436	$1,794	$3,075	$5,018	$6,934
Standard	N/A	N/A	N/A	N/A	N/A
Tonica	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

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