Roscoe, Boone County, Illinois Property Taxes

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

Median Roscoe, IL effective property tax rate: 2.71%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Roscoe, IL home value: $263,072
Median annual Roscoe, IL tax bill: $6,889, $4,489 higher than the national median property tax bill of $2,400.

How are property taxes in Boone calculated?

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

Last Updated March 1, 2025

Roscoe, Boone County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.71%

Estimate Property Tax Bill

$7,129

$6,616

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

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

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

Property Tax Rates Across Roscoe, Boone County, Illinois

Local government entities set tax rates, which can vary widely within a state. This is because each county annually 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.

In Roscoe, Boone County, IL, the effective property tax rate is 2.71%, which is significantly higher than the national median property tax rate of 1.02%. This means that residents in Roscoe pay more than double the national average, reflecting the local government's budgetary needs and property values. Compared to other cities in Illinois, Roscoe's property tax rate is consistent, as it is both the highest and lowest median tax rate in the area. This uniformity suggests a stable property tax environment for homeowners in Roscoe. Understanding these rates can help property owners anticipate their tax bills and plan their finances accordingly.

Property Tax Rates Across Roscoe, Boone County, Illinois

Source: Ownwell

2.53%

2.70%

2.87%

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 Roscoe Tax Rate

2.71%

Median Effective Boone County Tax Rate

2.69%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Roscoe, Boone County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61073	2.50%	2.62%	2.71%	2.85%	2.97%

Source: Ownwell

Property Tax Assessment Values Across Roscoe, Boone County, Illinois

When examining property taxes in Roscoe, 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 Boone County assessment 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 Boone 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 Roscoe.

For example, the median home price in Roscoe is $263,072, with tax bills ranging significantly across the county. Zip code 61073 has the highest median home price at $263,072.

Property Tax Assessment Values Across Roscoe, Boone County, Illinois

Source: Ownwell

$148,732

$234,346

$319,959

Median Roscoe Market Value

$263,072

Median Boone County Market Value

$166,186

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Roscoe, Boone County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61073	$157,502	$201,846	$263,072	$320,520	$379,091

Source: Ownwell

Property Tax Bills Across Roscoe, Boone County, Illinois

In Roscoe, located in Boone County, IL, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. The tax rate, set by local taxing authorities, is then applied to this assessed value to determine the final tax bill. Homeowners in Roscoe face a median property tax bill of $6,889, which is significantly higher than the national median of $2,400. Factors such as property location, improvements, and local government budgets influence these rates. For homeowners, this can mean a substantial financial burden, especially when tax bills reach the 75th percentile at $8,903 or even the 90th percentile at $10,661. Ownwell offers a solution by providing expert property tax appeal and exemption services, potentially lowering these burdensome tax bills. By analyzing property assessments and identifying discrepancies, Ownwell helps homeowners reduce their tax liabilities, ensuring they only pay what is fair and equitable.

Property Tax Bills Across Roscoe, Boone County, Illinois

Source: Ownwell

$3,764

$6,003

$8,242

Median Roscoe Tax Bill

$6,889

Median Boone County Tax Bill

$4,339

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Roscoe, Boone County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61073	$3,416	$5,268	$6,889	$8,903	$10,661

Source: Ownwell