Smithfield, Fulton County, Illinois Property Taxes
Property Taxes in Smithfield, Illinois
Median Smithfield, Illinois effective property tax rate: 3.08%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.
Median Smithfield, Illinois home value: $48,198
Median annual Smithfield, Illinois tax bill: $1,237, $1,163 lower than the national median property tax bill of $2,400.
How are property taxes in Fulton calculated?
Property taxes in Smithfield, 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 Smithfield's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Smithfield, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Smithfield, Fulton County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.08%
Estimate Property Tax Bill
$1,484
$1,378
How Does the Smithfield Property Tax Calculator Work?
Use this Smithfield property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Smithfield's median effective tax rate of 3.08% — based on actual property records in Fulton 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 Smithfield'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 Smithfield: rates range from 3.08% in 61477 to 3.08% in 61477, 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 Smithfield.
About Smithfield Property Taxes
About Property Taxes in Smithfield, Fulton, Illinois
Smithfield’s median effective property tax rate of 3.08% is higher than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Fulton County levy combined with local taxing districts that affect homeowners throughout the city.
Property tax rates are not uniform across Smithfield. Homeowners in the 61477 ZIP code carry a median effective rate of 3.08%, and the same ZIP also shows the lowest rate at 3.08%. That means there is no spread across the city, but the rate is still well above the national median and can make a meaningful difference to your annual tax bill.
Smithfield homeowners who believe their assessed value is too high can file a formal appeal with the Fulton County Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill 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 Smithfield, Fulton 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 Smithfield'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 Smithfield Tax Rate
3.08%
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 Fulton County Tax Rate
2.65%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Smithfield, Fulton County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61477 | 1.52% | 2.45% | 3.08% | 3.92% | 3.94% |
Source: Ownwell
Property Tax Assessment Values Across Smithfield, Fulton County, Illinois
When examining property taxes in Smithfield, 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 Fulton 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 in Fulton County are sent in the spring each year and typically reach your mailbox by the middle of the season. 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 Smithfield is $48,198, with the median tax bill at $1,237. Tax bills range from $584 at the 25th percentile to $4,127 at the 90th percentile, and ZIP code 61477 has the highest median home price at $48,198.
Property Tax Assessment Values Across Smithfield, Fulton County, Illinois
Source: Ownwell
$27,988
$70,188
$112,388
Median Smithfield Market Value
$48,198
Median Fulton County Market Value
$72,042
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Smithfield, Fulton County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61477 | $11,808 | $20,871 | $48,198 | $86,576 | $141,778 |
Source: Ownwell
Property Tax Bills Across Smithfield, Fulton County, Illinois
Property tax bills in Smithfield are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. That means the amount a homeowner owes depends on both the value assigned to the home and the tax rates set by local taxing authorities. In Smithfield, the median home price is $48,198, which helps explain why many tax bills are lower than in higher-priced areas.
Homeowners can see a wide range of tax bills depending on their property’s assessed value and location. The 25th percentile tax bill is $584, while the 75th percentile tax bill is $2,260 and the 90th percentile tax bill is $4,127. The median tax bill is $1,237 in ZIP code 61477.
Because property taxes are tied to assessed value, even small changes in valuation can affect what homeowners pay each year.
Median Smithfield Tax Bill
$1,237
Median Fulton County Tax Bill
$1,787
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Smithfield, Fulton County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61477 | $283 | $584 | $1,237 | $2,260 | $4,127 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 1 |
Links | |
|---|---|
| Fulton Tax Assessor | |
| Website | fultonil.devnetwedge.com |