Wayne City, Wayne County, Illinois Property Taxes

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

Median Wayne City, IL effective property tax rate: 1.97%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Wayne City, IL home value: $65,784
Median annual Wayne City, IL tax bill: $1,304, $1,096 lower than the national median property tax bill of $2,400.

How are property taxes in Wayne County calculated?

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

Last Updated March 1, 2025

Wayne City, Wayne County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.97%

Estimate Property Tax Bill

$1,296

$1,203

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

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

Local government entities set tax rates, which can vary widely within a state. This variation stems from the fact that each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting 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 Wayne City, nestled in Wayne County, Illinois, the effective property tax rate stands at 1.97%. This is significantly higher than the national median of 1.02%. However, within Illinois, Wayne City's rate is representative of the state's median, as it is both the highest and lowest median tax rate in the area. This highlights the consistency in property tax rates within the county, yet it also underscores the higher burden placed on property owners compared to the national average. Understanding these dynamics is crucial for property owners looking to manage their tax liabilities effectively.

Property Tax Rates Across Wayne City, 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 Wayne City Tax Rate

1.97%

Median Effective Wayne County Tax Rate

2.01%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Wayne City, Wayne County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62895	0.77%	1.46%	1.97%	2.23%	2.39%

Source: Ownwell

Property Tax Assessment Values Across Wayne City, Wayne County, Illinois

When examining property taxes in Wayne City, 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 Wayne 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 Wayne 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 Wayne City.

For example, the median home price in Wayne City is $65,784, with tax bills ranging significantly across the county. The zip code 62895 has the highest median home price at $65,784.

Property Tax Assessment Values Across Wayne City, Wayne County, Illinois

Source: Ownwell

$55,174

$78,362

$101,550

Median Wayne City Market Value

$65,784

Median Wayne County Market Value

$66,714

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Wayne City, Wayne County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62895	$14,819	$31,857	$65,784	$118,581	$171,534

Source: Ownwell

Property Tax Bills Across Wayne City, Wayne County, Illinois

In Wayne City, located in Wayne County, IL, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The median home price in the area is $65,784, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as local government budgets and school district funding needs also play a role in determining the final tax rate. Homeowners in Wayne City typically receive tax bills ranging from $561 at the 25th percentile to $3,943 at the 90th percentile. The median tax bill is $1,304, which is significantly below the national median of $2,400, offering a relatively lower tax burden compared to other regions. Ownwell can assist homeowners in Wayne City by identifying opportunities for property tax appeals and exemptions, potentially reducing their tax bills. By leveraging local expertise and a deep understanding of property tax regulations, Ownwell helps ensure homeowners pay only their fair share.

Property Tax Bills Across Wayne City, Wayne County, Illinois

Source: Ownwell

$1,272

$1,694

$2,116

Median Wayne City Tax Bill

$1,304

Median Wayne County Tax Bill

$1,458

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Wayne City, Wayne County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62895	$216	$561	$1,304	$2,360	$3,943

Source: Ownwell