Arcola, Coles County, Illinois Property Taxes

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

Median Arcola, IL effective property tax rate: 2.61%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Arcola, IL home value: $119,384
Median annual Arcola, IL tax bill: $3,762, $1,362 higher than the national median property tax bill of $2,400.

How are property taxes in Coles calculated?

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

Last Updated March 1, 2025

Arcola, Coles County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.61%

Estimate Property Tax Bill

$3,116

$2,891

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

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

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

Property Tax Rates Across Arcola, Coles County, Illinois

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 Arcola’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Arcola, located in Coles County, has a median property tax rate of 2.61%. This rate is significantly higher than the national median of 1.02%. In fact, Arcola’s rate is among the highest in the state, matching the highest median tax rate found in Illinois. Property owners in this area face a tax burden that is more than double the national median property tax rate. Understanding these rates can help property owners in Arcola make informed decisions about property investments and financial planning.

Property Tax Rates Across Arcola, Coles County, Illinois

Source: Ownwell

2.22%

2.64%

3.07%

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 Arcola Tax Rate

2.61%

Median Effective Coles County Tax Rate

2.84%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Arcola, Coles County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61910	2.22%	2.39%	2.61%	2.78%	2.98%

Source: Ownwell

Property Tax Assessment Values Across Arcola, Coles County, Illinois

When examining property taxes in Arcola, 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 Coles 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 Coles 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 Arcola.

For example, the median home price in Arcola is $119,384, with tax bills ranging significantly across the county. Zip code 61910 has the highest median home price at $119,384.

Property Tax Assessment Values Across Arcola, Coles County, Illinois

Source: Ownwell

$55,224

$88,860

$122,496

Median Arcola Market Value

$119,384

Median Coles County Market Value

$64,296

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Arcola, Coles County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61910	$11,014	$36,570	$119,384	$213,518	$289,642

Source: Ownwell

Property Tax Bills Across Arcola, Coles County, Illinois

In Arcola, located in Coles County, IL, 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. Factors such as changes in market conditions and improvements to the property can influence the assessed value. Homeowners in Arcola face a median property tax bill of $3,762, notably higher than the national median of $2,400. This can place a significant financial burden on homeowners, especially when the tax bill reaches the 75th percentile at $6,658 or even the 90th percentile at $10,788. Ownwell can assist homeowners in Arcola by reviewing their property assessments and identifying potential errors or overvaluations. By filing appeals and seeking exemptions, Ownwell helps ensure that homeowners pay only their fair share, potentially saving them hundreds or thousands of dollars on their property tax bills.

Property Tax Bills Across Arcola, Coles County, Illinois

Source: Ownwell

$1,172

$2,467

$3,762

Median Arcola Tax Bill

$3,762

Median Coles County Tax Bill

$1,659

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Arcola, Coles County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61910	$484	$1,988	$3,762	$6,658	$10,788

Source: Ownwell