62712 Property Tax Rate

Property owners in ZIP code 62712 (Springfield, Illinois) pay a median of $5,211/year in property taxes on homes valued at $244,300. This translates to an effective tax rate of 2.13%, which is 14% above the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62712 is approximately $434, which factors into escrow payments on mortgages. This ZIP code is located within Sangamon County. This is $1,710 more than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62712 has higher property taxes. ZIP codes with similar effective rates include 60546 (2.13%) and 60553 (2.13%).

In Springfield, property taxes represent approximately 4.8% of the median household income of $108,730, 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.