Stewardson, Shelby County, Illinois Property Taxes
Median Stewardson, IL effective property tax rate: 2.10%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Stewardson, IL home value: $107,703
Median annual Stewardson, IL tax bill: $2,198, $202 lower than the national median property tax bill of $2,400.
How are property taxes in Shelby calculated?
Property taxes in Stewardson, 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 Stewardson’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Stewardson, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Stewardson, Shelby County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.1%
Estimate Property Tax Bill
$2,262
$2,099
Property Tax Rates Across Stewardson, Shelby County, Illinois
Local government entities determine property tax rates, which can differ significantly across Illinois. This variation arises because each county annually estimates its necessary budget to fund services and divides this amount by the total assessed value of all taxable properties within its jurisdiction. This calculation determines the property tax rate. Although voting and legislation play roles in setting tax rates and budgets, this is essentially the yearly procedure.
In Stewardson, located in Shelby County, the effective property tax rate is notably higher than the national median. While the national median property tax rate is 1.02%, Illinois often sees rates that exceed this average. This makes property tax considerations crucial for homeowners in the region. Comparing Stewardson's rate to other cities in Illinois, as well as to the median rates in the state and across the U.S., highlights the importance of understanding local tax dynamics. With property taxes being a significant expense, exploring potential savings through appeals or exemptions can be beneficial for property owners in Illinois.
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 Stewardson Tax Rate
2.10%
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 Tax Rate
2.20%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Stewardson, Shelby County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62463 | 1.40% | 1.92% | 2.10% | 2.42% | 2.78% |
Source: Ownwell
Property Tax Assessment Values Across Stewardson, Shelby County, Illinois
When examining property taxes in Stewardson, 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 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 Stewardson. For example, the median home price in Stewardson is $107,703, with tax bills ranging significantly across the county. ZIP code 62463 has the highest median home price at $107,703.
Property Tax Assessment Values Across Stewardson, Shelby County, Illinois
Source: Ownwell
$65,006
$147,534
$230,062
Median Stewardson Market Value
$107,703
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 Stewardson, Shelby County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62463 | $19,302 | $49,339 | $107,703 | $163,382 | $219,270 |
Source: Ownwell
Property Tax Bills Across Stewardson, Shelby County, Illinois
Median Stewardson Tax Bill
$2,198
Median Shelby County Tax Bill
$2,114
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Stewardson, Shelby County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62463 | $376 | $1,063 | $2,198 | $3,403 | $4,780 |
Source: Ownwell