Roanoke, Woodford County, Illinois Property Taxes

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

Median ROANOKE, IL effective property tax rate: 2.54%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median ROANOKE, IL home value: $102,585
Median annual ROANOKE, IL tax bill: $2,476, $76 higher than the national median property tax bill of $2,400.

How are property taxes in Woodford calculated?

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

Last Updated March 1, 2025

Roanoke, Woodford County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.54%

Estimate Property Tax Bill

$2,606

$2,418

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

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

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

Property Tax Rates Across Roanoke, Woodford 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 Roanoke’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Property Tax Rates Across Roanoke, 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 Roanoke Tax Rate

2.54%

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 Roanoke, Woodford County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61561	1.89%	2.31%	2.54%	2.73%	3.05%

Source: Ownwell

Property Tax Assessment Values Across Roanoke, Woodford County, Illinois

When examining property taxes in Roanoke, 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 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. Assessment notices: In Woodford 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 Roanoke. For example, the median home price in Roanoke is $102,585, with tax bills ranging significantly across the county. 61561 has the highest median home price at $102,585.

Property Tax Assessment Values Across Roanoke, Woodford County, Illinois

Source: Ownwell

$76,683

$160,575

$244,467

Median Roanoke Market Value

$102,585

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 Roanoke, Woodford County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61561	$21,110	$61,908	$102,585	$145,690	$197,619

Source: Ownwell

Property Tax Bills Across Roanoke, Woodford County, Illinois

In Roanoke, Illinois, property tax bills are calculated based on 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 to determine the tax bill. Various factors such as local government budgets, school funding, and community services influence the tax rate. Homeowners in Roanoke, part of Woodford County, experience property tax bills that range widely, with the 25th percentile at $1,442 and the 75th percentile at $3,607. The 90th percentile reaches $5,195, indicating a significant variation depending on property value and location. With the national median property tax rate at 1.02% and a median tax bill of $2,400, Roanoke's rates can be comparatively higher for some homeowners. Ownwell can assist homeowners by providing expert property tax appeal services, potentially reducing their tax burden. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners pay only their fair share, offering significant savings.

Property Tax Bills Across Roanoke, Woodford County, Illinois

Source: Ownwell

$1,648

$4,099

$6,549

Median Roanoke Tax Bill

$2,476

Median Woodford County Tax Bill

$3,222

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Roanoke, Woodford County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61561	$529	$1,442	$2,476	$3,607	$5,195

Source: Ownwell