Tremont, Tazewell County, Illinois Property Taxes

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

Median Tremont, IL effective property tax rate: 2.30%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Tremont, IL home value: $175,335
Median annual Tremont, IL tax bill: $3,923, $1,523 higher than the national median property tax bill of $2,400.

How are property taxes in Tazewell calculated?

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

Last Updated March 1, 2025

Tremont, Tazewell County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.3%

Estimate Property Tax Bill

$4,033

$3,742

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

Property Tax Rates Across Tremont, Tazewell County, Illinois

Local government entities set tax rates, which can vary widely within a state. 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 Tremont’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Tremont, located in Tazewell County, has an effective property tax rate of 2.30%, which is significantly higher than the national median of 1.02%. This places Tremont among the areas with the highest property tax rates in the country. The property tax bill in Tremont also tends to surpass the national median of $2,400, reflecting the higher rate. Understanding these differences is crucial for property owners considering tax appeal and exemption services to potentially lower their tax burden.

Property Tax Rates Across Tremont, 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 Tremont Tax Rate

2.30%

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 Tremont, Tazewell County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61568	1.91%	2.16%	2.30%	2.44%	2.70%

Source: Ownwell

Property Tax Assessment Values Across Tremont, Tazewell County, Illinois

When examining property taxes in Tremont, 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 Tremont.

For example, the median home price in Tremont is $175,335, with tax bills ranging significantly across the county. Zip code 61568 has the highest median home price at $175,335.

Property Tax Assessment Values Across Tremont, Tazewell County, Illinois

Source: Ownwell

$67,290

$196,785

$326,280

Median Tremont Market Value

$175,335

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 Tremont, Tazewell County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61568	$91,320	$125,760	$175,335	$231,562	$308,295

Source: Ownwell

Property Tax Bills Across Tremont, Tazewell County, Illinois

In Tremont, located in Tazewell County, Illinois, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors and is a percentage of the property's market value. The median home price in Tremont is $175,335, and property tax rates are applied to this assessed value to calculate the tax bill. Homeowners in Tremont can expect a median property tax bill of around $3,923, which is notably higher than the national median property tax bill of $2,400. Factors such as property improvements, market trends, and local tax levies influence the tax amount. Higher tax bills, such as the 90th percentile at $7,399, can significantly impact homeowners' finances.

Ownwell assists homeowners by providing property tax appeal and exemption services, potentially lowering their tax obligations. By analyzing property assessments and identifying discrepancies, Ownwell can help homeowners in Tremont save on their property tax bills, ensuring they only pay their fair share. This service can offer financial relief, especially for those facing high property tax burdens.

Property Tax Bills Across Tremont, Tazewell County, Illinois

Source: Ownwell

$1,564

$4,524

$7,483

Median Tremont Tax Bill

$3,923

Median Tazewell County Tax Bill

$3,118

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Tremont, Tazewell County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61568	$1,835	$2,790	$3,923	$5,304	$7,399

Source: Ownwell