Shumway, Shelby County, Illinois Property Taxes

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

Median Shumway, IL effective property tax rate: 2.13%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Shumway, IL home value: $124,788
Median annual Shumway, IL tax bill: $2,753, $353 higher than the national median property tax bill of $2,400.

How are property taxes in Shelby calculated?

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

Last Updated March 1, 2025

Shumway, Shelby County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.13%

Estimate Property Tax Bill

$2,658

$2,467

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

Local government entities set tax rates, which can vary widely within a state. 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 Shumway, located in Shelby County, Illinois, the effective property tax rate is notably higher than the national median. This reflects the county's budgetary needs and the value of properties within the area. When compared to other cities in Illinois, Shumway's rate is consistent with the highest median tax rate in the state, indicating a uniform approach across the region. This comparison highlights the importance of understanding local property tax rates, as they can significantly impact homeowners. By staying informed and considering property tax appeal and exemption services, residents can potentially lessen their tax burden.

Property Tax Rates Across Shumway, 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 Shumway Tax Rate

2.13%

Median Effective Shelby County Tax Rate

2.20%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Shumway, Shelby County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62461	1.43%	2.00%	2.13%	2.43%	2.81%

Source: Ownwell

Property Tax Assessment Values Across Shumway, Shelby County, Illinois

When examining property taxes in Shumway, 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 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 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 Shumway.

For example, the median home price in Shumway is $124,788, with tax bills ranging significantly across the county. 62461 has the highest median home price at $124,788.

Property Tax Assessment Values Across Shumway, Shelby County, Illinois

Source: Ownwell

$65,006

$147,534

$230,062

Median Shumway Market Value

$124,788

Median Shelby County Market Value

$99,420

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Shumway, Shelby County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62461	$28,830	$74,056	$124,788	$173,330	$232,014

Source: Ownwell

Property Tax Bills Across Shumway, Shelby County, Illinois

In Shumway, located in Shelby County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Shumway face a median property tax bill of $2,753, which is above the national median property tax bill of $2,400. The tax bills can vary significantly, ranging from $1,704 at the 25th percentile to $5,500 at the 90th percentile. Several factors influence these tax bills, including changes in property value, local government budgets, and specific exemptions or deductions available to homeowners.

Ownwell assists homeowners in Shumway by providing expert property tax appeal and exemption services. By analyzing the assessed value of your property and identifying potential discrepancies or opportunities for exemptions, Ownwell can help reduce your tax burden. This personalized approach ensures you only pay your fair share, potentially saving you hundreds or even thousands of dollars annually.

Property Tax Bills Across Shumway, Shelby County, Illinois

Source: Ownwell

$1,295

$3,351

$5,407

Median Shumway Tax Bill

$2,753

Median Shelby County Tax Bill

$2,114

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Shumway, Shelby County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62461	$659	$1,704	$2,753	$3,982	$5,500

Source: Ownwell