Neoga, Shelby County, Illinois Property Taxes

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

Median Neoga, IL effective property tax rate: 2.04%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Neoga, IL home value: $96,198
Median annual Neoga, IL tax bill: $1,980, $420 lower than the national median property tax bill of $2,400.

How are property taxes in Shelby County calculated?

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

Last Updated March 1, 2025

Neoga, Shelby County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.04%

Estimate Property Tax Bill

$1,962

$1,821

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

In Neoga, located in Shelby County, Illinois, the effective property tax rate is significantly higher compared to the national average. This means that homeowners in Neoga are likely paying more in property taxes than the typical U.S. homeowner. For context, the national median property tax rate stands at 1.02%, with a median bill of $2,400.

In Illinois, tax rates can differ greatly from one community to another. However, Neoga's rate is notably high within the state, indicating a heavier tax burden on its residents. This could impact decisions for those considering buying property in the area, as property taxes are a significant factor in the overall cost of homeownership. Comparing Neoga's tax rate to other cities in Illinois and the broader U.S. can provide valuable insights for property owners and prospective buyers alike.

Property Tax Rates Across Neoga, 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 Neoga Taxx Rate

2.04%

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 Neoga, Shelby County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62447	1.47%	1.80%	2.04%	2.36%	2.71%

Source: Ownwell

Property Tax Assessment Values Across Neoga, Shelby County, Illinois

When examining property taxes in Neoga, 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 Neoga.

For example, the median home price in Neoga is $96,198, with tax bills ranging significantly across the county. Zip code 62447 has the highest median home price at $96,198.

Property Tax Assessment Values Across Neoga, Shelby County, Illinois

Source: Ownwell

$65,006

$147,534

$230,062

Median Neoga Market Value

$96,198

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 Neoga, Shelby County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62447	$9,586	$34,191	$96,198	$152,830	$201,883

Source: Ownwell

Property Tax Bills Across Neoga, Shelby County, Illinois

In Neoga, located in Shelby County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The local tax rate is then applied to this assessed value, determining the annual property tax bill. The median home price in Neoga is $96,198, and property tax bills can vary significantly, with the 25th percentile at $888 and the 90th percentile reaching $4,040. These figures highlight the wide range of tax bills homeowners may face, influenced by factors such as property value assessments and local tax rates. Compared to the national median property tax bill of $2,400, Neoga's tax bills can be both lower and higher, depending on individual circumstances. Homeowners in Neoga can benefit from Ownwell's expertise in property tax appeals and exemptions. By leveraging local knowledge and experience, Ownwell can help homeowners potentially reduce their tax burden, ensuring they pay only what is necessary and fair based on accurate property assessments.

Property Tax Bills Across Neoga, Shelby County, Illinois

Source: Ownwell

$1,295

$3,351

$5,407

Median Neoga Tax Bill

$1,980

Median Shelby County Tax Bill

$2,114

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Neoga, Shelby County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62447	$254	$888	$1,980	$3,097	$4,040

Source: Ownwell