Pearl City, Stephenson County, Illinois Property Taxes
Median Pearl City, IL effective property tax rate: 2.57%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Pearl City, IL home value: $92,499
Median annual Pearl City, IL tax bill: $2,279, $121 lower than the national median property tax bill of $2,400.
How are property taxes in Stephenson calculated?
Property taxes in Pearl City, 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 Pearl City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Pearl City, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Pearl City, Stephenson County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.57%
Estimate Property Tax Bill
$2,377
$2,206
Property Tax Rates Across Pearl City, Stephenson County, Illinois
Local government entities determine tax rates, which can differ significantly within a state. Each year, counties estimate the budget needed to provide essential services and divide this by the total assessed value of all taxable property in their area. This calculation determines the property tax rate. Although setting tax rates and budgets involves votes and legislation, this annual process is fundamentally straightforward.
In Pearl City, located in Stephenson County, the effective property tax rate is a notable aspect to consider. This rate can be compared to other cities within Illinois, as well as the median property tax rates in Illinois and across the United States. Understanding these comparisons can provide valuable insights into how Pearl City's property tax rate stands in relation to broader trends. With the national median property tax rate at 1.02% and the median property tax bill at $2,400, Pearl City's figures offer a unique perspective on property tax assessments. By examining these numbers, property owners can better understand their tax obligations and explore potential opportunities for appeals or exemptions.
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 Pearl City Tax Rate
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 Stephenson County Tax Rate
3.21%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Pearl City, Stephenson County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61062 | 1.98% | 2.32% | 2.57% | 2.97% | 3.21% |
Source: Ownwell
Property Tax Assessment Values Across Pearl City, Stephenson County, Illinois
When examining property taxes in Pearl City, 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 Stephenson 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 Stephenson 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 Pearl City. For example, the median home price in Pearl City is $92,499, with tax bills ranging significantly across the county. 61062 has the highest median home price at $92,499.
Property Tax Assessment Values Across Pearl City, Stephenson County, Illinois
Source: Ownwell
$51,878
$101,664
$151,449
Median Pearl City Market Value
$92,499
Median Stephenson County Market Value
$60,276
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Pearl City, Stephenson County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61062 | $45,750 | $69,375 | $92,499 | $128,313 | $225,903 |
Source: Ownwell
Property Tax Bills Across Pearl City, Stephenson County, Illinois
Median Pearl City Tax Bill
$2,279
Median Stephenson County Tax Bill
$1,883
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Pearl City, Stephenson County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61062 | $1,470 | $1,778 | $2,279 | $3,453 | $5,247 |
Source: Ownwell