Plymouth, Hancock County, Illinois Property Taxes

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

Median Plymouth, IL effective property tax rate: 2.79%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Plymouth, IL home value: $14,504
Median annual Plymouth, IL tax bill: $404, $1,996 lower than the national median property tax bill of $2,400.

How are property taxes in Hancock calculated?

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

Last Updated March 1, 2025

Plymouth, Hancock County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.79%

Estimate Property Tax Bill

$405

$376

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

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

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

Property Tax Rates Across Plymouth, Hancock County, Illinois

Local government entities set tax rates, which can vary widely within a state. 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. Plymouth in Hancock County, Illinois, presents an intriguing case when it comes to property tax rates. With a median property tax rate of 2.79%, it stands significantly higher than the national median property tax rate of 1.02%. This rate is not only the highest but also the lowest within its own zip code, 62367, indicating a uniformity in tax rates across the region. Compared to other cities in Illinois, Plymouth's rate is notably high, reflecting the county's specific budgetary needs and property value assessments. Understanding these local variations can empower property owners to make informed decisions about their investments, especially when considering property tax appeals or exemptions.

Property Tax Rates Across Plymouth, Hancock County, Illinois

Source: Ownwell

2.37%

2.83%

3.28%

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 Plymouth Tax Rate

2.79%

Median Effective Hancock County Tax Rate

2.85%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Plymouth, Hancock County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62367	2.79%	2.79%	2.79%	2.79%	2.79%

Source: Ownwell

Property Tax Assessment Values Across Plymouth, Hancock County, Illinois

When examining property taxes in Plymouth, 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 Hancock 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.

In Hancock 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 Plymouth.

For example, the median home price in Plymouth is $14,504, with tax bills ranging significantly across the county. Zip code 62367 has the highest median home price at $14,504.

Property Tax Assessment Values Across Plymouth, Hancock County, Illinois

Source: Ownwell

$14,504

$51,523

$88,542

Median Plymouth Market Value

$14,504

Median Hancock County Market Value

$54,669

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Plymouth, Hancock County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62367	$2,811	$10,043	$14,504	$37,583	$41,934

Source: Ownwell

Property Tax Bills Across Plymouth, Hancock County, Illinois

In Plymouth, Illinois, 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 annual tax bill. In Hancock County, where Plymouth is located, homeowners experience a median property tax bill of $404, significantly lower than the national median of $2,400. Factors such as local government budgets, school district funding needs, and public service requirements influence the tax rate. For homeowners in Plymouth, the tax bill can vary widely, with the 25th percentile at $280 and the 75th percentile reaching $1,014. This variation can affect homeowners' financial planning and budgeting. Ownwell offers assistance by identifying potential savings through property tax appeals and exemptions. By reviewing assessments and ensuring they are fair, Ownwell helps homeowners potentially reduce their tax bills, providing financial relief and peace of mind.

Property Tax Bills Across Plymouth, Hancock County, Illinois

Source: Ownwell

$404

$1,396

$2,388

Median Plymouth Tax Bill

$404

Median Hancock County Tax Bill

$1,522

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Plymouth, Hancock County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62367	$78	$280	$404	$1,014	$1,156

Source: Ownwell