62375 Property Tax Rate

Property owners in ZIP code 62375 (Timewell, Illinois) pay a median of $2,036/year in property taxes on homes valued at $136,300. This translates to an effective tax rate of 1.49%, which is 20% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62375 is approximately $170, which factors into escrow payments on mortgages. This ZIP code is located within Brown County. This is $1,465 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62375 has higher property taxes. ZIP codes with similar effective rates include 62809 (1.49%) and 62870 (1.49%).

In Timewell, property taxes represent approximately 2.6% of the median household income of $77,250, providing context for the relative tax burden on homeowners in this area.

Under Illinois's 7% annual assessment cap, your property tax cannot increase more than 7% per year, shielding you from volatile jumps. Brown County homeowners qualify for the General Homestead Exemption ($10,000 assessed value deduction), which saves roughly $150–$300 annually. Submit your exemption application to the Brown County Assessor within one month of closing to activate this tax relief.