62704 Property Tax Rate
Springfield, Illinois · Part of Sangamon County
Effective Tax Rate
2.15%
2.5% above state avgMedian Annual Tax
$3,588
$299/mo escrow
Estimate Your Tax
Annual Tax
$3,588
Monthly
$299
Eff. Rate
2.15%
Buyer decision brief
What ZIP 62704 means for your housing budget
Use this ZIP page to compare recurring tax burden before you compare listing prices. The numbers below are Census ZCTA estimates, so they are strongest for neighborhood comparison and weakest for parcel-specific tax planning.
Monthly escrow signal
$299/mo
Based on median annual tax paid
State context
0.27 percentage points above the Illinois average
Illinois average: 1.88%
Data confidence
High confidenceThe Census margin of error is $137, about 4% of the median tax estimate.
Verify before you offer
- Confirm parcel assessed value with Sangamon County assessor.
- Check homestead, senior, veteran, and disability exemptions.
- Ask whether purchase triggers reassessment or value-cap reset.
- Review school district and special assessment boundaries.
Lower-rate similar ZIPs
This is informational content, not tax, legal, or mortgage advice. Local assessor records remain the source of truth for a specific property.
Data confidence ledger
Can you trust ZIP 62704 for comparison?
ACS vintage
2019-2023 ACS 5-Year Estimates
Five-year Census ZCTA estimates.
ZCTA caveat
Census area, not parcel boundary
USPS ZIP routes and taxing districts can differ inside the same area.
Field completeness
3/3 required fields
Median tax, home value, and derived rate are present.
MOE status
Strong ACS confidence
$137 tax MOE, 4% of the median tax estimate.
Last site refresh
March 10, 2026
Dataset and page-quality audit run locally before publication.
County fallback
County advisory available
Sangamon County is used for assessor verification and broader context.
Tax bill anatomy
What can change your actual bill in ZIP 62704
Use the ZIP estimate to compare neighborhoods, then verify these parcel-level inputs before relying on a payment estimate.
Assessed value
The ZCTA median home value is $166,900, but your bill starts with the local assessed value for a specific parcel.
Effective rate
The displayed rate is 2.15%, derived from median tax paid divided by median home value.
Exemptions
Homestead, senior, veteran, disability, and local exemptions can reduce taxable value. Confirm eligibility before estimating escrow.
Reassessment
A purchase can change assessed value depending on Illinois and county rules. Ask how sale price affects the next assessment cycle.
Escrow impact
The median tax paid in this ZCTA equals about $299 per month before insurance, HOA dues, or special assessments.
Assessor verification
Sangamon County assessor or tax collector records are the source of truth for parcel taxes, appeal windows, and exemptions.
How ZIP 62704 Compares
Median Annual Property Tax
ZIP 62704
2.15%
Effective rate
Illinois Avg
1.88%
Effective rate
National Avg
1.10%
Effective rate
State Ranking
Property Tax Rank in Illinois
Higher than 73% of ZIP codes in Illinois(73th percentile, 1,317 ZIPs compared)
Property Tax Analysis
Property Tax Insights for ZIP 62704
Property owners in ZIP code 62704 (Springfield, Illinois) pay a median of $3,588/year in property taxes on homes valued at $166,900. This translates to an effective tax rate of 2.15%, which is 15% above the Illinois state average of 1.88%.
The monthly property tax burden for a median-valued home in 62704 is approximately $299, which factors into escrow payments on mortgages. This ZIP code is located within Sangamon County.
Compared to similar ZIP codes in Illinois, 62704 has higher property taxes. ZIP codes with similar effective rates include 62848 (2.15%) and 61839 (2.15%).
In Springfield, property taxes represent approximately 5.4% of the median household income of $66,352, providing context for the relative tax burden on homeowners in this area.
Illinois caps assessed value growth at 7% annually, but your purchase triggers full reassessment to market value under state law. Sangamon County's $10,000 General Homestead Exemption reduces your taxable assessed value immediately — file the application with the Sangamon County Assessor within 30 days of closing. Monitor your first tax bill from the Sangamon County Assessor to confirm the exemption was applied correctly.
Frequently Asked Questions
What is the property tax rate in ZIP code 62704?
How much are property taxes in Springfield, IL (62704)?
How does ZIP 62704 compare to the Illinois average?
What is the median home value in ZIP 62704?
What county is ZIP code 62704 in?
Margin of Error
The median property tax estimate for this ZIP code has a margin of error of ±$137. ZCTA-level data has wider margins than county-level estimates due to smaller sample sizes.
County-Level Data
ZIP code 62704 is part of Sangamon County, Illinois. View the full county profile for broader context and more data.
View Sangamon County on TaxByCounty →Explore Springfield, IL
View all 6 ZIP codes in Springfield with property tax comparisons.
View Springfield Property Tax Rates →Why compare these ZIPs?
Better comparison set for ZIP 62704
Each ZIP highlights a homebuyer tradeoff: lower rate, stronger value context, shared county rules, city boundary changes, or nearby missing data.
62703
Springfield, IL
0.26 percentage points lower than ZIP 62704.
Rate
1.89%
Tax
$1,763
Quality
101
62702
Springfield, IL
0.23 percentage points lower than ZIP 62704.
Rate
1.92%
Tax
$1,962
Quality
101
62707
Springfield, IL
0.13 percentage points lower than ZIP 62704.
Rate
2.02%
Tax
$3,325
Quality
101
62712
Springfield, IL
0.02 percentage points lower than ZIP 62704.
Rate
2.13%
Tax
$5,211
Quality
101
62689
Thayer, IL
0.75 percentage points lower than ZIP 62704.
Rate
1.40%
Tax
$1,202
Quality
84
62615
Auburn, IL
0.74 percentage points lower than ZIP 62704.
Rate
1.41%
Tax
$2,179
Quality
84
62520
Dawson, IL
0.68 percentage points lower than ZIP 62704.
Rate
1.47%
Tax
$3,317
Quality
84
62661
Loami, IL
0.50 percentage points lower than ZIP 62704.
Rate
1.65%
Tax
$2,658
Quality
84
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.