61801 Property Tax Rate

Property owners in ZIP code 61801 (Urbana, Illinois) pay a median of $4,296/year in property taxes on homes valued at $184,000. This translates to an effective tax rate of 2.33%, which is 24% above the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 61801 is approximately $358, which factors into escrow payments on mortgages. This ZIP code is located within Champaign County. This is $795 more than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 61801 has lower property taxes. ZIP codes with similar effective rates include 61704 (2.33%) and 60960 (2.34%).

In Urbana, property taxes represent approximately 11.3% of the median household income of $37,948, providing context for the relative tax burden on homeowners in this area.

Illinois restricts assessed value increases to 7% annually, but Champaign County properties reassess to purchase price at sale. Apply for Champaign County's General Homestead Exemption of $10,000 (reduction in assessed value) with the Champaign County Assessor by the deadline shown on your assessment notice. File your exemption claim with the Champaign County Assessor within 30 days of closing to reduce your taxable value.