Nokomis, Fayette County, Illinois Property Taxes

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

Median Nokomis, IL effective property tax rate: 2.17%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Nokomis, IL home value: $170,262
Median annual Nokomis, IL tax bill: $3,692, $1,292 higher than the national median property tax bill of $2,400.

How are property taxes in Fayette calculated?

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

Last Updated March 1, 2025

Nokomis, Fayette County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.88%

Estimate Property Tax Bill

$3,937

$3,653

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

Property Tax Rates Across Nokomis, Fayette County, Illinois

Local government entities determine tax rates, and these can differ significantly within a state. Each county, including 17051, calculates its budget needs annually, which are then divided by the total value of all taxable properties in the area. This process establishes the property tax rate for the year. While votes and legislation play roles in setting these rates and budgets, this is the fundamental procedure.

In Nokomis, located in 17051, the effective property tax rate is 2.17%. This rate is notably higher than the national median property tax rate of 1.02%. When compared to other cities in Illinois, Nokomis's rate is higher than the state's median. Residents in Nokomis face property tax bills that surpass the national median of $2,400. Understanding these differences is crucial for property owners who are considering appealing their property tax assessments or seeking exemptions. By comparing Nokomis's rates to state and national figures, property owners can make informed decisions about managing their property tax liabilities.

Property Tax Rates Across Nokomis, Fayette County, Illinois

Source: Ownwell

1.64%

1.91%

2.17%

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 Nokomis Tax Rate

1.88%

Median Effective Fayette County Tax Rate

1.85%

Median Effective Illinois Tax Rate

2.33%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Nokomis, Fayette County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62075	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Nokomis, Fayette County, Illinois

When examining property taxes in Nokomis, 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 Fayette County Assessor 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: Fayette County sends assessment notices 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 Nokomis. For example, the median home price in Nokomis is $170,262, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Nokomis, Fayette County, Illinois

Source: Ownwell

$33,690

$74,354

$115,018

Median Nokomis Market Value

$209,400

Median Fayette County Market Value

$91,032

Median Illinois Market Value

$227,888

Median United States Market Value

$235,294

Property Tax Assessment Values Across Nokomis, Fayette County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62075	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Nokomis, Fayette County, Illinois

In Nokomis, property tax bills are calculated based on the assessed value of a home. The local taxing authorities determine this value, which is then multiplied by the local tax rate to calculate the annual tax bill. Homeowners in Nokomis face a median property tax rate that is higher than the national median of 1.02%, with a tax bill of approximately $3,692, significantly above the national median tax bill of $2,400. This can place a considerable financial burden on homeowners, especially when the assessed value doesn't accurately reflect the market value. Factors such as recent home sales, neighborhood development, and property improvements can influence assessments. Ownwell offers a valuable service to homeowners by reviewing property assessments and identifying potential savings. By filing appeals and exemptions where applicable, Ownwell helps ensure that homeowners pay only their fair share, potentially saving them hundreds or even thousands of dollars annually. This service not only reduces financial strain but also brings peace of mind to homeowners.

Property Tax Bills Across Nokomis, Fayette County, Illinois

Source: Ownwell

$602

$1,231

$1,859

Median Nokomis Tax Bill

$3,927

Median Fayette County Tax Bill

$1,441

Median Illinois Tax Bill

$5,277

Median United States Tax Bill

$2,400

Property Tax Bills Across Nokomis, Fayette County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62075	N/A	N/A	N/A	N/A	N/A

Source: Ownwell