Indianola, Vermilion County, Illinois Property Taxes

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

Median INDIANOLA, IL effective property tax rate: 2.63%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median INDIANOLA, IL home value: $61,911. Median annual INDIANOLA, IL tax bill: $1,459, $941 lower than the national median property tax bill of $2,400.

How are property taxes in Vermilion calculated?

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

Last Updated March 1, 2025

Indianola, Vermilion County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.63%

Estimate Property Tax Bill

$1,628

$1,511

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

Property Tax Rates Across Indianola, Vermilion 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 Indianola, located in Vermilion County, Illinois, the effective property tax rate is significantly higher than the national median of 1.02%. This rate is also higher than the median property tax rate in other cities across Illinois. Residents of Indianola experience one of the highest property tax burdens in the area, reflecting the county's budgetary needs and the assessed value of properties.

Comparing Indianola's property tax rate to the national landscape highlights a considerable difference, as the national median property tax bill is $2,400. Understanding these differences can help property owners in Indianola make informed decisions about appealing their property taxes or seeking exemptions, ultimately leading to potential savings.

Property Tax Rates Across Indianola, Vermilion County, Illinois

Source: Ownwell

2.05%

2.46%

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 Indianola Tax Rate

2.63%

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 Indianola, Vermilion County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61850	1.26%	2.01%	2.63%	3.13%	3.22%

Source: Ownwell

Property Tax Assessment Values Across Indianola, Vermilion County, Illinois

When examining property taxes in Indianola, 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 Assessor's Office 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 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 Indianola.

For example, the median home price in Indianola is $61,911, with tax bills ranging significantly across the county. Zip code 61850 has the highest median home price at $61,911.

Property Tax Assessment Values Across Indianola, Vermilion County, Illinois

Source: Ownwell

$28,646

$72,481

$116,316

Median Indianola Market Value

$61,911

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 Indianola, Vermilion County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61850	$12,908	$26,910	$61,911	$105,146	$166,622

Source: Ownwell

Property Tax Bills Across Indianola, Vermilion County, Illinois

In Indianola, located in Vermilion County, IL, property tax bills are determined by assessing the home's value and applying the local tax rate. With a median home price of $61,911, the property tax bills vary significantly, reflecting the assessed value and applicable tax rate. The tax bill at the 25th percentile is $563, while at the 75th percentile, it rises to $2,644, and at the 90th percentile, it reaches $4,350. This variation means that while some homeowners face relatively low property tax bills, others experience significantly higher ones. The median property tax bill in Indianola is $1,459, which is below the national median of $2,400. Ownwell assists homeowners by providing property tax appeal and exemption services, potentially lowering their tax burden. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners are not overpaying. This service can lead to substantial savings, making property ownership more affordable and manageable for residents in Indianola.

Property Tax Bills Across Indianola, Vermilion County, Illinois

Source: Ownwell

$561

$1,728

$2,894

Median Indianola Tax Bill

$1,459

Median Vermilion County Tax Bill

$1,325

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Indianola, Vermilion County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61850	$224	$563	$1,459	$2,644	$4,350

Source: Ownwell