Thayer, Sangamon County, Illinois Property Taxes

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

Median Thayer, IL effective property tax rate: 1.80%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Thayer, IL home value: $59,046
Median annual Thayer, IL tax bill: $1,004, $1,396 lower than the national median property tax bill of $2,400.

How are property taxes in Sangamon calculated?

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

Last Updated March 1, 2025

Thayer, Sangamon County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.8%

Estimate Property Tax Bill

$1,063

$986

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

Local government entities set tax rates, which can vary widely within a state. 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 Thayer’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

The median property tax rate in Thayer, located in Sangamon County, is notably higher than the national median. With a rate of 1.80%, it surpasses the U.S. median of 1.02%, reflecting the specific budgetary needs and property values in the area. This rate is consistent across Sangamon County, indicating a uniform approach to property tax assessments within the jurisdiction. When compared to other regions within Illinois, Thayer's rate stands as a representative figure, showcasing the state's higher-than-average property tax landscape. Understanding these rates can help property owners anticipate their annual tax obligations and consider potential savings through appeals or exemptions.

Property Tax Rates Across Thayer, 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 Thayer Taxx Rate

1.80%

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 Thayer, Sangamon County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62689	1.03%	1.37%	1.80%	2.04%	2.30%

Source: Ownwell

Property Tax Assessment Values Across Thayer, Sangamon County, Illinois

When examining property taxes in Thayer, 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 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.

In Sangamon 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 Thayer. For example, the median home price in Thayer is $59,046, with tax bills ranging significantly across the county. Zip code 62689 has the highest median home price at $59,046.

Property Tax Assessment Values Across Thayer, Sangamon County, Illinois

Source: Ownwell

$56,421

$155,278

$254,134

Median Thayer Market Value

$59,046

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 Thayer, Sangamon County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62689	$33,929	$44,221	$59,046	$75,836	$105,805

Source: Ownwell

Property Tax Bills Across Thayer, Sangamon County, Illinois

In Thayer, located in Sangamon County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as property size, location, and market conditions can influence the assessed value. Homeowners in Thayer face a range of property tax bills, with the 25th percentile at $638 and the 75th percentile reaching $1,517. Comparatively, the national median property tax bill is $2,400, indicating that many Thayer residents pay below the national average. However, with the highest median tax bill in the area at $1,004, some homeowners might still feel the financial strain. Ownwell can assist homeowners by providing property tax appeal services, potentially lowering their assessed value and, consequently, their tax bill. By leveraging expertise and local market knowledge, Ownwell aims to ensure homeowners pay only their fair share, offering a path to potential savings.

Property Tax Bills Across Thayer, Sangamon County, Illinois

Source: Ownwell

$1,004

$3,692

$6,380

Median Thayer Tax Bill

$1,004

Median Sangamon County Tax Bill

$3,283

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Thayer, Sangamon County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62689	$349	$638	$1,004	$1,517	$2,134

Source: Ownwell