Manito, Tazewell County, Illinois Property Taxes

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

Median MANITO, IL effective property tax rate: 2.23%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median MANITO, IL home value: $102,720
Median annual MANITO, IL tax bill: $2,193, $207 lower than the national median property tax bill of $2,400.

How are property taxes in Tazewell calculated?

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

Last Updated March 1, 2025

Manito, Tazewell County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.23%

Estimate Property Tax Bill

$2,291

$2,126

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

Property Tax Rates Across Manito, 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. Below, you can compare Manito’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Property Tax Rates Across Manito, Tazewell County, Illinois

Source: Ownwell

1.96%

2.38%

2.80%

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 Manito Tax Rate

2.23%

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 Manito, Tazewell County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61546	1.62%	1.95%	2.23%	2.51%	2.59%

Source: Ownwell

Property Tax Assessment Values Across Manito, Tazewell County, Illinois

When examining property taxes in Manito, 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 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 Manito. For example, the median home price in Manito is $102,720, with tax bills ranging significantly across the county. Zip code 61546 has the highest median home price at $102,720.

Property Tax Assessment Values Across Manito, Tazewell County, Illinois

Source: Ownwell

$67,290

$196,785

$326,280

Median Manito Market Value

$102,720

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 Manito, Tazewell County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61546	$31,065	$61,432	$102,720	$142,268	$183,660

Source: Ownwell

Property Tax Bills Across Manito, Tazewell County, Illinois

In the city of Manito, located in Tazewell County, Illinois, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in Manito stands at $102,720, and the property tax bill can vary significantly, with the 25th percentile at $1,200 and the 75th percentile reaching $3,236. Compared to the national median property tax bill of $2,400, homeowners in Manito experience a range of tax burdens. Factors influencing these bills include local tax rates and any applicable exemptions or deductions. For homeowners, this means that understanding and managing these factors can significantly impact their annual expenses. Ownwell offers services to help homeowners reduce their property tax bills by appealing assessments and identifying potential exemptions. By leveraging expert knowledge and experience, Ownwell can assist homeowners in navigating the complexities of property tax calculations, ultimately aiming to secure savings and lessen the financial burden of property ownership.

Property Tax Bills Across Manito, Tazewell County, Illinois

Source: Ownwell

$1,564

$4,524

$7,483

Median Manito Tax Bill

$2,193

Median Tazewell County Tax Bill

$3,118

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Manito, Tazewell County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61546	$616	$1,200	$2,193	$3,236	$4,355

Source: Ownwell