Richland County, Illinois Property Taxes
Median Richland County effective property tax rate: 1.98%, significantly higher than the national median of 1.02%.
Median Richland County home value: $112,318
Median annual Richland County tax bill: $2,107, $293 lower than the national median property tax bill of $2,400.
How are property taxes in Richland County calculated?
Property taxes in Richland 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 Olney or another part of Richland County, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Richland County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.98%
Estimate Property Tax Bill
$2,224
$2,064
Ownwell’s Richland County Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Richland County with just two data points.
By entering your property's estimated assessed value, our calculator applies Richland 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 Richland County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Richland County, Illinois
Local government entities set tax rates, which can vary widely within a state. This variation is due to each county estimating its required budget to provide services and then dividing 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.
Richland County's effective property tax rate, for instance, stands at 1.98%, which is notably higher than the national median property tax rate of 1.02%. Within Illinois, Richland County's rate is nestled between Newton's highest median tax rate of 2.13% and Calhoun's lowest median tax rate of 1.85%. This highlights the diversity in property tax rates even within a single state. Understanding these differences can help property owners make informed decisions about their property investments and potential tax liabilities.
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 Richland County Tax Rate
1.98%
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 Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Richland County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Calhoun | 1.13% | 1.44% | 1.85% | 2.09% | 2.17% |
| Claremont | 1.27% | 1.68% | 1.88% | 2.05% | 2.19% |
| Dundas | 1.00% | 1.42% | 1.97% | 2.14% | 2.25% |
| Newton | 1.80% | 1.94% | 2.13% | 2.23% | 2.29% |
| Noble | 1.26% | 1.67% | 1.99% | 2.22% | 2.31% |
| Olney | 1.05% | 1.57% | 2.01% | 2.34% | 2.67% |
| Parkersburg | 0.81% | 1.67% | 1.89% | 2.13% | 2.25% |
| Sumner | N/A | N/A | N/A | N/A | N/A |
| West Salem | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Richland County, Illinois
When examining property taxes in Richland 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 Richland County Assessor 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 Richland 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 Richland County.
For example, the median tax bill in Richland County is $2,982, with tax bills ranging significantly across the county. Newton has the highest median home price at $155,250.
Property Tax Assessment Values Across Richland County, Illinois
Source: Ownwell
$82,050
$118,650
$155,250
Median Richland County Market Value
$112,318
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Richland County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Calhoun | $25,974 | $44,360 | $82,050 | $170,217 | $260,227 |
| Claremont | $39,054 | $79,230 | $133,380 | $195,749 | $285,446 |
| Dundas | $43,311 | $79,172 | $137,704 | $203,081 | $272,984 |
| Newton | $66,532 | $108,894 | $155,250 | $218,907 | $242,774 |
| Noble | $46,614 | $85,983 | $141,147 | $207,948 | $262,443 |
| Olney | $28,900 | $44,966 | $99,482 | $183,380 | $251,606 |
| Parkersburg | $43,191 | $66,233 | $126,814 | $193,254 | $247,516 |
| Sumner | N/A | N/A | N/A | N/A | N/A |
| West Salem | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Richland County, Illinois
Median Richland County Tax Bill
$2,107
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Richland County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Calhoun | $396 | $827 | $1,525 | $3,318 | $5,638 |
| Claremont | $651 | $1,415 | $2,420 | $3,636 | $5,971 |
| Dundas | $570 | $996 | $2,359 | $4,047 | $5,769 |
| Newton | $1,288 | $1,972 | $2,982 | $4,854 | $5,244 |
| Noble | $668 | $1,409 | $2,679 | $4,282 | $5,891 |
| Olney | $426 | $849 | $1,759 | $3,835 | $5,692 |
| Parkersburg | $577 | $1,181 | $2,488 | $4,118 | $5,306 |
| Sumner | N/A | N/A | N/A | N/A | N/A |
| West Salem | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell