Lacon, Marshall County, Illinois Property Taxes
Property Taxes in Lacon, Illinois
Median Lacon, Illinois effective property tax rate: 2.80%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.
Median Lacon, Illinois home value: $119,028
Median annual Lacon, Illinois tax bill: $3,170, $770 higher than the national median property tax bill of $2,400.
How are property taxes in Marshall calculated?
Property taxes in Lacon, Illinois are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Lacon's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lacon, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Lacon, Marshall County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.8%
Estimate Property Tax Bill
$3,333
$3,093
How Does the Lacon Property Tax Calculator Work?
Use this Lacon property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Lacon's median effective tax rate of 2.80% — based on actual property records in Marshall County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Lacon's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Lacon: rates range from 2.80% in 61540 to 2.80% in 61540, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Lacon.
About Lacon Property Taxes
About Property Taxes in Lacon, Marshall, Illinois
Lacon’s median effective property tax rate of 2.80% is higher than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Marshall County base levy combined with local school district levies and special service areas that vary by subdivision throughout the city.
Property tax rates are not uniform across Lacon. Homeowners in the 61540 ZIP code carry a median effective rate of 2.80%, while those in the lowest ZIP code also pay 2.80%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Marshall County.
Lacon homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Lacon, Marshall County, Illinois
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Lacon's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lacon Tax Rate
2.80%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Marshall County Tax Rate
2.89%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lacon, Marshall County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61540 | 1.80% | 2.39% | 2.80% | 2.89% | 3.02% |
Source: Ownwell
Property Tax Assessment Values Across Lacon, Marshall County, Illinois
When examining property taxes in Lacon, Illinois, understanding the distinction between "market value" and "assessed value" is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Marshall County appraisal district estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Marshall County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lacon.
For example, the median home price in Lacon is $119,028, with tax bills ranging significantly across the county. 61540 has the highest median home price at $119,028.
Property Tax Assessment Values Across Lacon, Marshall County, Illinois
Source: Ownwell
$107,640
$138,990
$170,340
Median Lacon Market Value
$119,028
Median Marshall County Market Value
$135,138
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lacon, Marshall County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61540 | $38,603 | $69,540 | $119,028 | $175,164 | $230,623 |
Source: Ownwell
Property Tax Bills Across Lacon, Marshall County, Illinois
Property tax bills in Lacon are based on the assessed value of a home, not its sale price, and the local tax rate set for Marshall County. When a property’s assessed value rises, the tax bill can increase even if the homeowner has not made any changes to the home. The median home price in Lacon is $119,028, and the median property tax bill is $3,170, which is above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%.
Several factors affect the final bill, including the home’s assessed value, local taxing authorities, and any exemptions a homeowner may qualify for. Bills can vary widely across the city, with the 25th percentile at $1,728 and the 75th percentile at $4,965. At the 90th percentile, tax bills reach $6,820, showing how much higher costs can be for some homeowners. For many residents, this means property taxes can be a major part of annual housing costs.
Median Lacon Tax Bill
$3,170
Median Marshall County Tax Bill
$3,953
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Lacon, Marshall County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61540 | $930 | $1,728 | $3,170 | $4,965 | $6,820 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Marshall Tax Assessor | |
| Website | propertytaxonline.org |