Parkersburg, Richland County, Illinois Property Taxes
Median Parkersburg, IL effective property tax rate: 1.89%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Parkersburg, IL home value: $126,814
Median annual Parkersburg, IL tax bill: $2,488, $88 higher than the national median property tax bill of $2,400.
How are property taxes in Richland calculated?
Property taxes in Parkersburg, 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 Parkersburg’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Parkersburg, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Parkersburg, Richland County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.89%
Estimate Property Tax Bill
$2,397
$2,224
Property Tax Rates Across Parkersburg, Richland County, Illinois
Local government entities set tax rates, which can vary widely within a state. This is because each county annually 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 votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.
You can compare Parkersburg’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Parkersburg, situated in Richland County, has a median property tax rate of 1.89%, which is significantly higher than the national median property tax rate of 1.02%. The median property tax bill for Parkersburg also reflects this higher rate, surpassing the national median bill of $2,400. This places Parkersburg among the higher property tax regions in Illinois, making it essential for property owners to explore potential savings through property tax appeals and exemptions. Understanding these rates and how they compare can empower property owners to make informed decisions about their property investments.
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 Parkersburg Tax Rate
1.89%
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%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Parkersburg, Richland County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62452 | 0.81% | 1.67% | 1.89% | 2.13% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Parkersburg, Richland County, Illinois
When examining property taxes in Parkersburg, 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 Richland 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 Richland County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 Parkersburg. For example, the median home price in Parkersburg is $126,814, with tax bills ranging significantly across the county. Zip code 62452 has the highest median home price at $126,814.
Property Tax Assessment Values Across Parkersburg, Richland County, Illinois
Source: Ownwell
$82,050
$118,650
$155,250
Median Parkersburg Market Value
$126,814
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 Parkersburg, Richland County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62452 | $43,191 | $66,233 | $126,814 | $193,254 | $247,516 |
Source: Ownwell
Property Tax Bills Across Parkersburg, Richland County, Illinois
Median Parkersburg Tax Bill
$2,488
Median Richland County Tax Bill
$2,107
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Parkersburg, Richland County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62452 | $577 | $1,181 | $2,488 | $4,118 | $5,306 |
Source: Ownwell