East Lynn, Vermilion County, Illinois Property Taxes
Median East Lynn, IL effective property tax rate: 2.86%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median East Lynn, IL home value: $28,646
Median annual East Lynn, IL tax bill: $561, $1,839 lower than the national median property tax bill of $2,400.
How are property taxes in Vermilion calculated?
Property taxes in East Lynn, 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 East Lynn’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in East Lynn, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
East Lynn, Vermilion County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.86%
Estimate Property Tax Bill
$819
$760
Property Tax Rates Across East Lynn, Vermilion County, Illinois
Local government entities set tax rates, which can vary widely within a state. This is because 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 East Lynn’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
East Lynn, located in Vermilion County, has a property tax rate of 2.86%, which is significantly higher than the national median of 1.02%. This means that homeowners in East Lynn pay a larger portion of their property value in taxes compared to the national average. The median property tax bill in East Lynn also surpasses the national median of $2,400, reflecting the higher tax rate. This comparison highlights the importance of understanding local tax rates and how they impact your financial planning as a homeowner.
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 East Lynn Tax Rate
2.86%
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 Vermilion County Tax Rate
2.53%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across East Lynn, Vermilion County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60932 | 1.19% | 1.68% | 2.86% | 2.86% | 2.86% |
Source: Ownwell
Property Tax Assessment Values Across East Lynn, Vermilion County, Illinois
When examining property taxes in East Lynn, 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 Vermilion 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 Vermilion 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 East Lynn. For example, the median home price in East Lynn is $28,646, with tax bills ranging significantly across the county. 60932 has the highest median home price at $28,646.
Property Tax Assessment Values Across East Lynn, Vermilion County, Illinois
Source: Ownwell
$28,646
$72,481
$116,316
Median East Lynn Market Value
$28,646
Median Vermilion County Market Value
$59,223
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across East Lynn, Vermilion County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60932 | $3,885 | $7,160 | $28,646 | $50,240 | $64,018 |
Source: Ownwell
Property Tax Bills Across East Lynn, Vermilion County, Illinois
Median East Lynn Tax Bill
$561
Median Vermilion County Tax Bill
$1,325
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across East Lynn, Vermilion County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60932 | $111 | $176 | $561 | $1,042 | $1,431 |
Source: Ownwell