Stanford, Tazewell County, Illinois Property Taxes
Median Stanford, IL effective property tax rate: 2.11%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Stanford, IL home value: $96,450
Median annual Stanford, IL tax bill: $2,031, $369 lower than the national median property tax bill of $2,400.
How are property taxes in Tazewell calculated?
Property taxes in Stanford, 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 Stanford’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Stanford, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Stanford, Tazewell County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.11%
Estimate Property Tax Bill
$2,035
$1,889
Property Tax Rates Across Stanford, Tazewell County, Illinois
Local government entities determine tax rates, and these can vary significantly within a state. This variance is due to each county estimating its annual budgetary needs for services and dividing it by the total value of all taxable properties in its area. This calculation yields the property tax rate. Although the process involves votes and laws to set tax rates and budgets, this is the core of the annual procedure.
You can compare Stanford's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. In Illinois, the median property tax rate is 2.11%, which is notably higher than the national median of 1.02%. The median property tax bill in Illinois also surpasses the national median bill of $2,400. This comparison highlights how property taxes in Illinois, including Stanford, can significantly impact homeowners compared to the national average. Understanding these differences can help property owners in Stanford and across Illinois make informed decisions about property tax appeals and exemptions.
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 Stanford Tax Rate
2.11%
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 Tazewell County Tax Rate
2.46%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Stanford, Tazewell County, Illinois
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
61774 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Stanford, Tazewell County, Illinois
Property Tax Assessment Values Across Stanford, Tazewell County, Illinois
Source: Ownwell
$67,290
$196,785
$326,280
Median Stanford Market Value
$96,450
Median Tazewell County Market Value
$127,050
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Stanford, Tazewell County, Illinois
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
61774 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Stanford, Tazewell County, Illinois
In Stanford, located in Tazewell County, Illinois, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the home's market value. Homeowners in Stanford face a property tax rate that results in a median tax bill of $2,031, slightly below the national median property tax bill of $2,400. This rate can significantly impact homeowners, as it represents a substantial annual expense. Factors such as changes in local government budgets, school funding needs, and infrastructure projects can influence the tax rate, potentially increasing the financial burden on homeowners.
Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. Through expert analysis and a deep understanding of local tax regulations, Ownwell identifies opportunities to reduce assessed values, potentially lowering tax bills. By leveraging these services, homeowners can achieve significant savings, easing the financial load and ensuring they are not overpaying on their property taxes.
Median Stanford Tax Bill
$2,031
Median Tazewell County Tax Bill
$3,118
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Stanford, Tazewell County, Illinois
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
61774 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell