Danvers, Tazewell County, Illinois Property Taxes
Median Danvers, IL effective property tax rate: 2.21%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Danvers, IL home value: $264,660
Median annual Danvers, IL tax bill: $6,015, $3,615 higher than the national median property tax bill of $2,400.
How are property taxes in Tazewell calculated?
Property taxes in Danvers, 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 Danvers’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Danvers, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Danvers, Tazewell County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.21%
Estimate Property Tax Bill
$5,849
$5,428
Property Tax Rates Across Danvers, Tazewell County, Illinois
Local government entities set tax rates, which can vary widely within a state. Annually, 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 Danvers, located in Tazewell County, the effective property tax rate stands out when compared to other cities in Illinois. The median property tax rate in Illinois is significantly higher than the national median, which can lead to a considerable difference in property tax bills. Homeowners in Danvers face a rate that matches the highest and lowest median tax rates within the zip code of 61732, reflecting a uniformity in tax assessments. This can be a stark contrast to the national median property tax rate of 1.02%, highlighting the importance of understanding local tax dynamics. When considering property investments or managing expenses, being aware of these local variations is crucial for homeowners.
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 Danvers Tax Rate
2.21%
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 Tazewell County Tax Rate
2.46%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Danvers, Tazewell County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61732 | 1.91% | 2.02% | 2.21% | 2.29% | 2.34% |
Source: Ownwell
Property Tax Assessment Values Across Danvers, Tazewell County, Illinois
When examining property taxes in Danvers, 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 Tazewell 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 Tazewell 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 Danvers. For example, the median home price in Danvers is $264,660, with tax bills ranging significantly across the county. Zip code 61732 has the highest median home price at $264,660.
Property Tax Assessment Values Across Danvers, Tazewell County, Illinois
Source: Ownwell
$67,290
$196,785
$326,280
Median Danvers Market Value
$264,660
Median Tazewell County Market Value
$127,050
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Danvers, Tazewell County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61732 | $110,760 | $178,965 | $264,660 | $320,295 | $394,440 |
Source: Ownwell
Property Tax Bills Across Danvers, Tazewell County, Illinois
Median Danvers Tax Bill
$6,015
Median Tazewell County Tax Bill
$3,118
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Danvers, Tazewell County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61732 | $2,000 | $3,429 | $6,015 | $7,171 | $8,735 |
Source: Ownwell