Average Tax Assessment in Stephenson County
Real Estate Values and Property Tax Valuation in Stephenson County, Illinois
Stephenson County has 1,340 properties with a cumulative value of $104.6M, representing 0.01% of all real estate value in Illinois. Property taxes in Stephenson County totaled $3.1M, with an average homeowner paying $2,316 in property taxes compared to the state average of $5,405. The average property tax rate in Stephenson County is 2.97%, higher than the state average of 2.47%. Property taxes are calculated based on the assessed value of the property, which is typically lower than the market value.
In Illinois, property taxes are based on the value of the property as of January 1st. Property owners have the option to appeal their property taxes between June and December, or within 30 days of when the notices are published. Property tax bills are issued on February 1st and July 1st, with the first installment due on June 1st in Cook County. This first installment is estimated at 55% of the prior year's tax bill, with taxes paid in arrears.
Updated November 01, 2023
| Important Links | |
|---|---|
| Stephenson Assessor | (815) 235-8260 |
| Stephenson Recorder of Deeds | (815) 235-8289 |
| Freeport Township Assessor | (815) 232-6131 |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Tax Appeal Deadline: | June - December or 30 days after notices are published |
| Property Tax Bills Issued: | February 1st and July 1st |
| Real Property Tax Bill Due (1st of #): | June, Two installments but due dates may vary by county March 1st, Cook County - 1st half installment, estimated at 55% of prior year tax bill with taxes paid in arrears. |
| Real Property Tax Bill Due (2nd of #): | September, Two installments but due dates may vary by county August 1, Cook County - 2nd half installment - TARGETED but may be delayed - due 30 days after being issued. Reconciled installment using the BOR certified AV, actual local tax rate, and final state equalization factor, less the estimated 1st installment with taxes paid in arrears |
| Available Exemptions | |
|---|---|
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Stephenson County
Residential Property Taxes by Cities in Stephenson County
Stephenson County has an average property tax rate of 2.97%, which is slightly lower than the national average of 2.98%. This rate applies to all cities in the county, including Freeport, which has the highest effective property tax rate of 3.13%. This rate is slightly higher than the county average, but still lower than the national average.
Property taxes in Stephenson County vary across cities, with Freeport having the highest effective property tax rate of 3.13%. Other cities in the county have lower rates, ranging from 2.90% to 2.97%. This variation in rates allows residents to choose the city with the most favorable tax rate for their needs.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Stephenson County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Freeport | $19,948 | $32,583 | $51,404 | $102,670 | $133,848 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Stephenson County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Freeport | $515 | $899 | $1,603 | $3,016 | $4,486 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Freeport | 2.58% | 2.76% | 3.12% | 2.94% | 3.35% |
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Real Estate Values in Stephenson County
The data from Redfin indicates that home prices in Stephenson County, Illinois have decreased by 10.62% from October 2022 to October 2023. This decrease in home prices is accompanied by a decrease in home inventory, with 119 homes available in October 2023 compared to 148 homes available in October 2022. This suggests that the housing market in Stephenson County is becoming more competitive, with fewer homes available and lower prices.
Average Home Value in Stephenson County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Stephenson County
Last updated: November 2023
Percent Change in New Home Listings in Stephenson County
Last updated: November 2023
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Mortgage Rates in Stephenson County
There are currently no outstanding loans in Stephenson County for home mortgages. This means that the total outstanding loan amount across home mortgages in Stephenson County is zero. The median mortgage rate across Stephenson County varies significantly, with the highest median mortgage rate being found in one city and the lowest median mortgage rate being found in another. This variation in rates across counties can have a significant impact on the total home value, as the higher the rate, the more expensive the loan will be.
Overall, mortgages in Stephenson County are relatively affordable and there is no outstanding loan amount across home mortgages. This makes it a great place for potential homeowners to consider when looking for a place to purchase a home. With the variation in rates across counties, it is important to compare the different rates and find the one that best suits your needs.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Stephenson County by city.
We currently do not have this data but we are working to add this soon.
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Stephenson County.
We currently do not have this data but we are working to add this soon.
Housing Expenses in Stephenson County, Illinois
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