Arrowsmith, Mclean County, Illinois Property Taxes
Property Taxes in Arrowsmith, Illinois
Median Arrowsmith, Illinois effective property tax rate: 1.93%, significantly lower than the national median of 1.02%, and lower than the Illinois state median of 2.33%.
Median Arrowsmith, Illinois home value: $129,140
Median annual Arrowsmith, Illinois tax bill: $2,406, $6 higher than the national median property tax bill of $2,400.
How are property taxes in McLean calculated?
Property taxes in Arrowsmith, 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 Arrowsmith's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Arrowsmith, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Arrowsmith, Mclean County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.93%
Estimate Property Tax Bill
$2,492
$2,313
How Does the Arrowsmith Property Tax Calculator Work?
Use this Arrowsmith property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Arrowsmith's median effective tax rate of 1.93% — based on actual property records in McLean County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment office uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Arrowsmith'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 Arrowsmith: rates range from 1.93% in 61722 to 1.93% in 61722, 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 Arrowsmith.
About Arrowsmith Property Taxes
About Property Taxes in Arrowsmith, McLean, Illinois
Arrowsmith's median effective property tax rate of 1.93% is lower than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the McLean County base levy combined with local school district levies and Special service areas (SSAs) that vary by subdivision throughout the city.
Property tax rates are not uniform across Arrowsmith. Homeowners in the 61722 ZIP code carry a median effective rate of 1.93%, while those in the same ZIP also pay 1.93%. This spread — 0 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across McLean County. Understanding which part of Arrowsmith you live in can make a meaningful difference to your annual tax bill.
Arrowsmith homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill above 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 Arrowsmith, Mclean 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 Arrowsmith'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 Arrowsmith Tax Rate
1.93%
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 Mclean County Tax Rate
2.12%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Arrowsmith, Mclean County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61722 | 1.33% | 1.70% | 1.93% | 2.06% | 2.44% |
Source: Ownwell
Property Tax Assessment Values Across Arrowsmith, Mclean County, Illinois
When examining property taxes in Arrowsmith, 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 McLean 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 McLean County are sent in the spring each year and typically reach your mailbox by the middle of the month. 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.
For example, the median home price in Arrowsmith is $129,140, with a median tax bill of $2,406. That is slightly above the national median property tax bill of $2,400, while the national median property tax rate is 1.02%. The highest median home price is in 61722 at $129,140.
Property Tax Assessment Values Across Arrowsmith, Mclean County, Illinois
Source: Ownwell
$63,309
$192,402
$321,495
Median Arrowsmith Market Value
$129,140
Median Mclean County Market Value
$202,755
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Arrowsmith, Mclean County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61722 | $49,000 | $92,234 | $129,140 | $166,828 | $213,111 |
Source: Ownwell
Property Tax Bills Across Arrowsmith, Mclean County, Illinois
Property tax bills in Arrowsmith are based on the assessed value of a home and the local tax rate set by taxing authorities. When a property is assessed at a higher value, the tax bill usually rises, while a lower assessed value can reduce what a homeowner owes. Local budgets, school funding, and other public services all play a role in determining the final bill.
For homeowners in Arrowsmith, the typical property tax bill reflects a median home price of $129,140 and a median tax bill of $2,406 in ZIP code 61722. That figure is close to the national median property tax bill of $2,400, showing that many residents pay about the same as homeowners across the country. Bills can still vary widely, with the 25th percentile at $1,726 and the 75th percentile at $3,059. Higher assessed values and local tax rates can make property taxes a major part of housing costs.
Median Arrowsmith Tax Bill
$2,406
Median Mclean County Tax Bill
$4,175
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Arrowsmith, Mclean County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61722 | $790 | $1,726 | $2,406 | $3,059 | $3,773 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 1 |
Links | |
|---|---|
| McLean Tax Assessor | |
| Website | www.mcleancountyil.gov |