Oconee, Shelby County, Illinois Property Taxes
Median Oconee, IL effective property tax rate: 2.47%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Oconee, IL home value: $90,336
Median annual Oconee, IL tax bill: $2,224, $176 lower than the national median property tax bill of $2,400.
How are property taxes in Shelby calculated?
Property taxes in Oconee, 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 Oconee’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oconee, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Oconee, Shelby County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.47%
Estimate Property Tax Bill
$2,231
$2,071
Property Tax Rates Across Oconee, Shelby County, Illinois
Local government entities set tax rates, which can vary widely within a state. This variation is largely due to each county's annual estimation of its required budget to provide essential services. The county then divides this budget by the total value of all taxable property within its jurisdiction to arrive at the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In Oconee, located in Shelby County, Illinois, the effective property tax rate can be compared to other cities in Illinois, as well as to the state and national medians. Illinois has a median property tax rate of 2.47%, which is significantly higher than the national median of 1.02%. This means that property owners in Oconee are likely paying more in property taxes compared to many other parts of the country. Understanding these rates is crucial for property owners looking to manage their tax liabilities effectively. By appealing or seeking exemptions, property owners can potentially lower their tax burden, making it essential to stay informed about the local property tax landscape.
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 Oconee Taxx Rate
2.47%
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 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 Oconee, Shelby County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62553 | 1.90% | 2.17% | 2.47% | 3.03% | 3.28% |
Source: Ownwell
Property Tax Assessment Values Across Oconee, Shelby County, Illinois
When examining property taxes in Oconee, 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 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 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 Oconee.
For example, the median home price in Oconee is $90,336, with tax bills ranging significantly across the county. Zip code 62553 has the highest median home price at $90,336.
Property Tax Assessment Values Across Oconee, Shelby County, Illinois
Source: Ownwell
$65,006
$147,534
$230,062
Median Oconee Market Value
$90,336
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 Oconee, Shelby County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62553 | $24,881 | $51,165 | $90,336 | $147,330 | $192,221 |
Source: Ownwell
Property Tax Bills Across Oconee, Shelby County, Illinois
In Oconee, located in Shelby County, IL, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the tax bill. Homeowners in Oconee experience a median property tax bill that aligns closely with the national median of $2,400, reflecting the area's typical property tax landscape. However, individual tax bills can vary significantly, ranging from $1,211 at the 25th percentile to $5,423 at the 90th percentile, depending on factors such as property size, location, and improvements.
Homeowners in Oconee can face financial challenges due to these variations in property tax bills. This is where Ownwell's services become invaluable. By leveraging expert knowledge and resources, Ownwell assists homeowners in appealing their property tax assessments and identifying potential exemptions, ultimately helping to reduce their tax burden. This tailored support can lead to significant savings, providing financial relief and peace of mind for homeowners in the area.
Median Oconee Tax Bill
$2,224
Median Shelby County Tax Bill
$2,114
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Oconee, Shelby County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62553 | $572 | $1,211 | $2,224 | $3,636 | $5,423 |
Source: Ownwell