62284 Property Tax Rate

Property owners in ZIP code 62284 (Smithboro, Illinois) pay a median of $2,345/year in property taxes on homes valued at $131,000. This translates to an effective tax rate of 1.79%, which is 5% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62284 is approximately $195, which factors into escrow payments on mortgages. This ZIP code is located within Bond County. This is $1,156 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62284 has higher property taxes. ZIP codes with similar effective rates include 62884 (1.79%) and 61467 (1.79%).

In Smithboro, property taxes represent approximately 4.7% of the median household income of $50,208, providing context for the relative tax burden on homeowners in this area.

Illinois caps assessed value increases at 7% annually, protecting homeowners from sudden tax jumps when the market heats up. Bond County offers the General Homestead Exemption ($10,000 off assessed value) to owner-occupied properties — file with the Bond County Assessor within 30 days of purchase to lock in this benefit. Verify your exemption status in writing from the Bond County Assessor to ensure it applies to your tax bill.