Riverton, Sangamon County, Illinois Property Taxes

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

Median Riverton, IL effective property tax rate: 2.02%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Riverton, IL home value: $140,756
Median annual Riverton, IL tax bill: $2,790, $390 higher than the national median property tax bill of $2,400.

How are property taxes in Sangamon calculated?

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

Last Updated March 1, 2025

Riverton, Sangamon County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.02%

Estimate Property Tax Bill

$2,843

$2,638

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

Property Tax Rates Across Riverton, Sangamon 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 Riverton’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Riverton, located in Sangamon County, has a property tax rate of 2.02%, which is notably higher than the national median of 1.02%. This means that homeowners in Riverton might find their property tax bills significantly higher than the national median bill of $2400. Understanding these rates can help property owners make informed decisions about their investments and potential appeals.

Property Tax Rates Across Riverton, Sangamon County, Illinois

Source: Ownwell

1.74%

2.36%

2.99%

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 Riverton Taxx Rate

2.02%

Median Effective Sangamon County Taxx Rate

2.31%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Riverton, Sangamon County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62561	1.65%	1.88%	2.02%	2.10%	2.19%

Source: Ownwell

Property Tax Assessment Values Across Riverton, Sangamon County, Illinois

When examining property taxes in Riverton, 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 Sangamon County Assessor's 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 Sangamon 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 Riverton. For example, the median home price in Riverton is $140,756, with tax bills ranging significantly across the county. Zip code 62561 has the highest median home price at $140,756.

Property Tax Assessment Values Across Riverton, Sangamon County, Illinois

Source: Ownwell

$56,421

$155,278

$254,134

Median Riverton Market Value

$140,756

Median Sangamon County Market Value

$144,820

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Riverton, Sangamon County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62561	$81,321	$108,353	$140,756	$187,221	$232,356

Source: Ownwell

Property Tax Bills Across Riverton, Sangamon County, Illinois

In Riverton, property tax bills are calculated based on the assessed value of a home, which is a percentage of the home's market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as the property's location, size, and improvements can influence the assessed value. In Sangamon County, the median property tax bill is approximately $2,790, which is slightly above the national median of $2,400. Homeowners in Riverton may pay between $2,046 and $4,763, depending on their property's specific characteristics and location within the county. High property taxes can significantly impact homeowners, affecting affordability and overall financial planning. Ownwell assists homeowners by providing expert property tax appeal and exemption services. By analyzing property assessments and market data, Ownwell identifies opportunities to reduce assessed values, potentially lowering tax bills. This professional guidance can lead to substantial savings, ensuring that homeowners pay only their fair share in property taxes.

Property Tax Bills Across Riverton, Sangamon County, Illinois

Source: Ownwell

$1,004

$3,692

$6,380

Median Riverton Tax Bill

$2,790

Median Sangamon County Tax Bill

$3,283

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Riverton, Sangamon County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62561	$1,409	$2,046	$2,790	$3,825	$4,763

Source: Ownwell