Savoy, Champaign County, Illinois Property Taxes
Property Taxes in Savoy, Illinois
Median Savoy, Illinois effective property tax rate: 2.19%, significantly higher than the national median of 1.02%, and lower than the Illinois state median of 2.33%.
Median Savoy, Illinois home value: $291,120
Median annual Savoy, Illinois tax bill: $6,155, $3,755 higher than the national median property tax bill of $2,400.
How are property taxes in Champaign County calculated?
Property taxes in Savoy, Illinois 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 Savoy's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Savoy, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Savoy, Champaign County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.19%
Estimate Property Tax Bill
$6,376
$5,916
How Does the Savoy Property Tax Calculator Work?
Use this Savoy property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Savoy's median effective tax rate of 2.19% — based on actual property records in Champaign County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Savoy's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Savoy: rates range from 2.19% in 61874 to 2.19% in 61874, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Savoy.
About Savoy Property Taxes
About Property Taxes in Savoy, Champaign, Illinois
Savoy’s median effective property tax rate of 2.19% is lower than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Champaign County base levy combined with local school district levies and Special service areas (SSAs) that vary by subdivision throughout the city.
Property tax rates are not uniform across Savoy. Homeowners in the 61874 ZIP code carry a median effective rate of 2.19%, while those in the same ZIP code also pay 2.19%. This spread reflects how school district boundaries and local assessment districts are drawn across Champaign County. Understanding where you live in Savoy can make a meaningful difference to your annual tax bill.
Savoy homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Savoy, Champaign County, Illinois
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because 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 Savoy's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
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 Savoy Tax Rate
2.19%
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 Champaign County Tax Rate
2.30%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Savoy, Champaign County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61874 | 1.93% | 2.09% | 2.19% | 2.33% | 2.42% |
Source: Ownwell
Property Tax Assessment Values Across Savoy, Champaign County, Illinois
When examining property taxes in Savoy, 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 Champaign 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 Champaign County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
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. For example, the median home price in Savoy is $291,120, with tax bills ranging significantly across the county. ZIP code 61874 has the highest median home price at $291,120.
Property Tax Assessment Values Across Savoy, Champaign County, Illinois
Source: Ownwell
$95,580
$193,350
$291,120
Median Savoy Market Value
$291,120
Median Champaign County Market Value
$183,720
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Savoy, Champaign County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61874 | $160,176 | $210,870 | $291,120 | $373,800 | $469,266 |
Source: Ownwell
Property Tax Bills Across Savoy, Champaign County, Illinois
Property tax bills in Savoy are based on the assessed value of a home, not its market listing price. Local taxing authorities apply tax rates to that assessed value to determine the final bill, and those rates can vary by jurisdiction within Champaign County. Homeowners with more valuable properties generally pay more, while those with lower assessed values pay less.
With a median home price of $291,120, property taxes can be a major part of housing costs in Savoy. The median tax bill in the area is $6,155, which is well above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%. Bills also vary widely: the 25th percentile is $4,220, the 75th percentile is $8,306, and the 90th percentile reaches $10,649.
These differences show how much property taxes can affect homeowners, especially when assessed values rise or local rates change.
Median Savoy Tax Bill
$6,155
Median Champaign County Tax Bill
$4,115
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Savoy, Champaign County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61874 | $2,961 | $4,220 | $6,155 | $8,306 | $10,649 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 1 |
Links | |
|---|---|
| Champaign Tax Assessor | |
| Website | champaignil.devnetwedge.com |