Cowden, Shelby County, Illinois Property Taxes

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

Median Cowden, IL effective property tax rate: 2.08%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Cowden, IL home value: $73,926
Median annual Cowden, IL tax bill: $1,601, $799 lower than the national median property tax bill of $2,400.

How are property taxes in Shelby County calculated?

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

Last Updated March 1, 2025

Cowden, Shelby County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.08%

Estimate Property Tax Bill

$1,538

$1,427

Ownwell’s Cowden Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cowden with just two data points.

By entering your property's estimated assessed value, our calculator applies Cowden’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 Shelby County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Cowden, Shelby 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 Cowden’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Cowden, located in Shelby County, has a property tax rate of 2.08%, which is notably higher than the national median of 1.02%. This means that homeowners in Cowden are paying significantly more in property taxes compared to the national average. Interestingly, the property tax rate in Cowden is consistent across Shelby County, with no variation between different areas. This uniformity is unusual, as many regions experience fluctuations in tax rates. For residents, understanding these rates is crucial for financial planning and assessing the overall cost of homeownership in Cowden.

Property Tax Rates Across Cowden, Shelby County, Illinois

Source: Ownwell

1.82%

2.19%

2.57%

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 Cowden Taxx Rate

2.08%

Median Effective Shelby County Taxx Rate

2.20%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Cowden, Shelby County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62422	1.17%	1.69%	2.08%	2.43%	2.93%

Source: Ownwell

Property Tax Assessment Values Across Cowden, Shelby County, Illinois

When examining property taxes in Cowden, 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 Shelby 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 Shelby 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 Cowden. For example, the median home price in Cowden is $73,926, with tax bills ranging significantly across the county. The zip code 62422 has the highest median home price at $73,926.

Property Tax Assessment Values Across Cowden, Shelby County, Illinois

Source: Ownwell

$65,006

$147,534

$230,062

Median Cowden Market Value

$73,926

Median Shelby County Market Value

$99,420

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Cowden, Shelby County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62422	$7,504	$33,228	$73,926	$123,802	$168,936

Source: Ownwell

Property Tax Bills Across Cowden, Shelby County, Illinois

In Cowden, Shelby County, Illinois, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Cowden is $73,926, with property tax bills typically ranging from $574 at the 25th percentile to $3,476 at the 90th percentile. The median property tax bill in the area stands at $1,601, which is below the national median of $2,400. Factors influencing property tax bills include changes in local government budgets, school district funding needs, and infrastructure projects. For homeowners, these taxes can represent a significant annual expense. Ownwell offers services to help homeowners in Cowden potentially save on their property tax bills by identifying opportunities for appeals and exemptions. By analyzing property assessments and market conditions, Ownwell ensures that homeowners are not overpaying, thereby providing peace of mind and financial relief.

Property Tax Bills Across Cowden, Shelby County, Illinois

Source: Ownwell

$1,295

$3,351

$5,407

Median Cowden Tax Bill

$1,601

Median Shelby County Tax Bill

$2,114

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Cowden, Shelby County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62422	$211	$574	$1,601	$2,540	$3,476

Source: Ownwell