Loves Park, Winnebago County, Illinois Property Taxes

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

Median Loves Park, IL effective property tax rate: 2.68%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Loves Park, IL home value: $117,420
Median annual Loves Park, IL tax bill: $3,032, $632 higher than the national median property tax bill of $2,400.

How are property taxes in Winnebago calculated?

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

Last Updated March 1, 2025

Loves Park, Winnebago County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.68%

Estimate Property Tax Bill

$3,147

$2,920

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

Property Tax Rates Across Loves Park, Winnebago 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. Below, you can compare Loves Park’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Loves Park in Winnebago County stands out with its high property tax rate. Illinois has a median property tax rate significantly higher than the national average, which can lead to a substantial property tax bill for homeowners. The effective tax rate in Loves Park is one of the highest in the state, reflecting the county's budget requirements and property values. For residents, this means a higher financial obligation compared to other parts of the country. Understanding these rates helps homeowners anticipate their annual property tax expenses and consider potential savings through appeals or exemptions.

Property Tax Rates Across Loves Park, Winnebago County, Illinois

Source: Ownwell

2.30%

2.80%

3.30%

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 Loves Park Tax Rate

2.68%

Median Effective Winnebago County Tax Rate

2.78%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Loves Park, Winnebago County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61111	1.57%	2.42%	2.68%	2.89%	3.25%
61115	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Loves Park, Winnebago County, Illinois

When examining property taxes in Loves Park, 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 Winnebago 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.

Assessment notices: In Winnebago 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 Loves Park. For example, the median home price in Loves Park is $117,420, with tax bills ranging significantly across the county. 61111 has the highest median home price at $117,422.

Property Tax Assessment Values Across Loves Park, Winnebago County, Illinois

Source: Ownwell

$48,324

$139,401

$230,478

Median Loves Park Market Value

$117,420

Median Winnebago County Market Value

$119,208

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Loves Park, Winnebago County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61111	$80,185	$95,798	$117,422	$161,110	$202,364
61115	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Loves Park, Winnebago County, Illinois

In Loves Park, located in Winnebago County, IL, property tax bills are determined by assessing the property's value and applying the local tax rate. The assessed value is a percentage of the home's market value, and this figure is then multiplied by the local tax rate to calculate the tax bill. Homeowners in Loves Park face a median property tax bill of $3,032, significantly higher than the national median of $2,400. Factors such as property size, location, and improvements can influence the assessed value, impacting the final tax bill. High property taxes can place a financial burden on homeowners, making it essential to explore ways to reduce these costs. Ownwell offers valuable assistance by reviewing property assessments and identifying potential discrepancies that could lead to overpayment. By filing appeals and seeking exemptions, Ownwell helps homeowners in Loves Park potentially lower their property tax bills, providing much-needed financial relief and ensuring they only pay their fair share.

Property Tax Bills Across Loves Park, Winnebago County, Illinois

Source: Ownwell

$1,249

$4,034

$6,818

Median Loves Park Tax Bill

$3,032

Median Winnebago County Tax Bill

$3,116

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Loves Park, Winnebago County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61111	$1,412	$2,264	$3,032	$4,327	$5,612
61115	N/A	N/A	N/A	N/A	N/A

Source: Ownwell