62461 Property Tax Rate

Property owners in ZIP code 62461 (Shumway, Illinois) pay a median of $2,048/year in property taxes on homes valued at $160,100. This translates to an effective tax rate of 1.28%, which is 32% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62461 is approximately $171, which factors into escrow payments on mortgages. This ZIP code is located within Effingham County. This is $1,453 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62461 has lower property taxes. ZIP codes with similar effective rates include 61419 (1.28%) and 62838 (1.28%).

In Shumway, property taxes represent approximately 2.9% of the median household income of $70,588, providing context for the relative tax burden on homeowners in this area.

Illinois law limits assessed value increases to 7% per year, ensuring your tax bill grows predictably and stays manageable. Effingham County's General Homestead Exemption ($10,000 off assessed value) applies to primary residences and yields approximately $150–$300 in annual savings. File your homestead exemption with the Effingham County Assessor within 30 days of purchase to lock in this benefit.