Speer, Stark County, Illinois Property Taxes

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

Median Speer, IL effective property tax rate: 2.28%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median Speer, IL home value: $285,609. Median annual Speer, IL tax bill: $6,233, $3,833 higher than the national median property tax bill of $2,400. How are property taxes in Stark calculated? Property taxes in Speer, 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 Speer’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Speer, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Speer, Stark County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.28%

Estimate Property Tax Bill

$6,512

$6,043

Ownwell’s Speer Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Speer with just two data points. By entering your property's estimated assessed value, our calculator applies Speer’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 Stark County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Speer, Stark County, Illinois

Local government entities are responsible for setting property tax rates, which can differ significantly within a state. This variance is due to the fact that each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While there are votes and laws involved in setting these rates and budgets, this is the fundamental process undertaken each year.

In Speer, located in Stark County, Illinois, the effective property tax rate is a crucial consideration for homeowners. When compared to other cities in Illinois, Speer's tax rate provides insight into the broader state landscape. Illinois is known for having some of the highest property tax rates in the country, and Stark County is no exception. The median property tax rate in Illinois is significantly higher than the national median of 1.02%. This comparison highlights the importance of understanding your local tax obligations, as they can impact your financial planning and homeownership costs.

Property Tax Rates Across Speer, Stark County, Illinois

Source: Ownwell

2.01%

2.15%

2.30%

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 Speer Taxx Rate

2.28%

Median Effective Stark County Taxx Rate

2.20%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Speer, Stark County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61479	2.16%	2.23%	2.28%	2.29%	2.57%

Source: Ownwell

Property Tax Assessment Values Across Speer, Stark County, Illinois

When examining property taxes in Speer, 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 Stark 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.

Assessment notices: In Stark 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 Speer. For example, the median home price in Speer is $285,609, with tax bills ranging significantly across the county. 61479 has the highest median home price at $285,609.

Property Tax Assessment Values Across Speer, Stark County, Illinois

Source: Ownwell

$130,330

$207,970

$285,609

Median Speer Market Value

$285,609

Median Stark County Market Value

$143,110

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Speer, Stark County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61479	$97,317	$179,265	$285,609	$320,391	$371,028

Source: Ownwell

Property Tax Bills Across Speer, Stark County, Illinois

Property tax bills in Speer, located in Stark County, IL, are calculated 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 determine the tax bill. In Speer, homeowners face a median property tax bill of $6,233, which is significantly higher than the national median of $2,400. This high tax bill can be attributed to the local tax rate and the assessed home values in the area. Factors influencing the tax bill include changes in property value, local government budgets, and public service funding requirements. Such high property taxes can place a financial strain on homeowners, affecting their overall affordability and cost of living. Ownwell offers a solution by providing property tax appeal services, which can help homeowners potentially reduce their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell assists homeowners in navigating the appeal process, ultimately aiming to lessen their financial burden.

Property Tax Bills Across Speer, Stark County, Illinois

Source: Ownwell

$2,703

$4,468

$6,233

Median Speer Tax Bill

$6,233

Median Stark County Tax Bill

$2,919

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Speer, Stark County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61479	$1,374	$4,069	$6,233	$7,319	$8,037

Source: Ownwell