61814 Property Tax Rate

Property owners in ZIP code 61814 (Bismarck, Illinois) pay a median of $1,939/year in property taxes on homes valued at $112,000. This translates to an effective tax rate of 1.73%, which is 8% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 61814 is approximately $162, which factors into escrow payments on mortgages. This ZIP code is located within Vermilion County. This is $1,562 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 61814 has higher property taxes. ZIP codes with similar effective rates include 60201 (1.73%) and 60625 (1.73%).

In Bismarck, property taxes represent approximately 3.4% of the median household income of $57,727, providing context for the relative tax burden on homeowners in this area.

Illinois caps annual assessment growth at 7%, though Vermilion County reassesses to market value at sale. Vermilion County's General Homestead Exemption ($10,000 off assessed value) should be filed with the Vermilion County Assessor by the deadline on your Supervisor's Notice. Contact the Vermilion County Assessor within 30 days of purchase to register your exemption and verify your base year value.