Fairfield, Wayne County, Illinois Property Taxes

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

Median Fairfield, IL effective property tax rate: 2.10%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Fairfield, IL home value: $65,520
Median annual Fairfield, IL tax bill: $1,509, $891 lower than the national median property tax bill of $2,400.

How are property taxes in Wayne County calculated?

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

Last Updated March 1, 2025

Fairfield, Wayne County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.1%

Estimate Property Tax Bill

$1,376

$1,277

Ownwell’s Fairfield Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fairfield with just two data points.

By entering your property's estimated assessed value, our calculator applies Fairfield’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 Wayne County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Fairfield, Wayne County, Illinois

Local government entities set property tax rates, and these can differ significantly even within the same state. The reason is that each county annually assesses its budgetary needs for services and divides this by the total assessed value of all taxable properties within its jurisdiction. This assessment determines the property tax rate. Although the process involves votes and legal stipulations, this is the essence of how it's done each year.

In Fairfield, part of Wayne County, the effective property tax rate is 2.10%, which is notably higher than the national median of 1.02%. This means residents in Fairfield pay a higher percentage of their property's assessed value in taxes compared to many other areas. While Fairfield's tax rate is consistent across the county, it stands out when compared to both the state and national averages. This can impact homeowners' financial planning and should be a consideration for potential property buyers. Understanding these rates can help residents and prospective buyers make informed decisions about property investments in the area.

Property Tax Rates Across Fairfield, Wayne County, Illinois

Source: Ownwell

1.71%

1.93%

2.16%

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 Fairfield Taxx Rate

2.10%

Median Effective Wayne County Taxx Rate

2.01%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Fairfield, Wayne County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62837	0.87%	1.59%	2.10%	2.48%	3.18%

Source: Ownwell

Property Tax Assessment Values Across Fairfield, Wayne County, Illinois

When examining property taxes in Fairfield, 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 Wayne County Assessor 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 Wayne 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 Fairfield. For example, the median home price in Fairfield is $65,520, with tax bills ranging significantly across the county. Zip code 62837 has the highest median home price at $65,520.

Property Tax Assessment Values Across Fairfield, Wayne County, Illinois

Source: Ownwell

$55,174

$78,362

$101,550

Median Fairfield Market Value

$65,520

Median Wayne County Market Value

$66,714

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Fairfield, Wayne County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62837	$12,177	$32,754	$65,520	$116,181	$163,953

Source: Ownwell

Property Tax Bills Across Fairfield, Wayne County, Illinois

In Fairfield, located in Wayne County, Illinois, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. The property tax rate is then applied to this assessed value to calculate the annual tax bill. With a median home price of $65,520, homeowners in Fairfield can expect their property tax bills to vary. For instance, the 25th percentile tax bill is approximately $573, while the 75th percentile reaches around $2,808, with the 90th percentile climbing to $4,184. Compared to the national median property tax bill of $2,400, Fairfield's range shows variability, impacting homeowners differently. Ownwell assists homeowners by ensuring their property assessments are fair and accurate, potentially reducing their tax burden. By appealing over-assessments and identifying applicable exemptions, Ownwell helps clients in Fairfield save on their property tax bills, offering peace of mind and financial relief.

Property Tax Bills Across Fairfield, Wayne County, Illinois

Source: Ownwell

$1,272

$1,694

$2,116

Median Fairfield Tax Bill

$1,509

Median Wayne County Tax Bill

$1,458

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Fairfield, Wayne County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62837	$238	$573	$1,509	$2,808	$4,184

Source: Ownwell