El Paso, Woodford County, Illinois Property Taxes

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

Median EL PASO, IL effective property tax rate: 2.46%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median EL PASO, IL home value: $122,706. Median annual EL PASO, IL tax bill: $2,871, $471 higher than the national median property tax bill of $2,400.

How are property taxes in Woodford calculated? Property taxes in EL PASO, 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 EL PASO’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in EL PASO, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

El Paso, Woodford County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.46%

Estimate Property Tax Bill

$3,019

$2,801

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

Property Tax Rates Across El Paso, Woodford County, Illinois

Local government entities set tax rates, which can vary significantly within a state. Each county, including 17203 in Illinois, estimates its budget to provide necessary services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the core of the annual process.

In El Paso, located in 17203, property owners encounter a property tax rate of 2.46%, which is notably higher than the national median property tax rate of 1.02%. This places a heavier financial burden on property owners compared to other areas in the United States. The effective property tax rate in El Paso is also the highest and lowest in its county, illustrating a uniformity in tax rates within this area. When comparing El Paso to other cities in Illinois and the U.S., it becomes evident that the property tax rate here is considerably above average. Understanding these differences can help property owners make informed decisions and potentially explore options for appealing their property tax assessments.

Property Tax Rates Across El Paso, Woodford County, Illinois

Source: Ownwell

2.19%

2.38%

2.58%

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 El Paso Tax Rate

2.46%

Median Effective Woodford County Tax Rate

2.44%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across El Paso, Woodford County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61738	1.96%	2.30%	2.46%	2.74%	2.83%

Source: Ownwell

Property Tax Assessment Values Across El Paso, Woodford County, Illinois

When examining property taxes in El Paso, 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 Woodford 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.

In Woodford County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 El Paso. For example, the median home price in El Paso is $122,706, with tax bills ranging significantly across the county. Zip code 61738 has the highest median home price at $122,706.

Property Tax Assessment Values Across El Paso, Woodford County, Illinois

Source: Ownwell

$76,683

$160,575

$244,467

Median El Paso Market Value

$122,706

Median Woodford County Market Value

$138,837

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across El Paso, Woodford County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61738	$12,360	$74,963	$122,706	$185,135	$259,737

Source: Ownwell

Property Tax Bills Across El Paso, Woodford County, Illinois

In El Paso, located in Woodford County, Illinois, property tax bills are determined by the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value. With a median home price of $122,706, homeowners in El Paso face a median property tax bill that can vary significantly. For instance, the tax bill at the 25th percentile is around $1,590, while at the 75th percentile, it climbs to $4,473, and at the 90th percentile, it reaches $6,363. These figures highlight the potential financial burden on homeowners, especially when compared to the national median property tax bill of $2,400. Ownwell offers a solution by providing expert property tax appeal and exemption services. By analyzing your property tax assessment and identifying discrepancies or opportunities for exemptions, Ownwell can help reduce your tax bill, ensuring you pay only your fair share. This service can be particularly beneficial for those with higher-than-average tax bills in El Paso.

Property Tax Bills Across El Paso, Woodford County, Illinois

Source: Ownwell

$1,648

$4,099

$6,549

Median El Paso Tax Bill

$2,871

Median Woodford County Tax Bill

$3,222

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across El Paso, Woodford County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61738	$330	$1,590	$2,871	$4,473	$6,363

Source: Ownwell