Putnam, Putnam County, Illinois Property Taxes
Property Taxes in Putnam, Illinois
Median Putnam, 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 Putnam, Illinois home value: $122,730
Median annual Putnam, Illinois tax bill: $4,270, $1,870 higher than the national median property tax bill of $2,400.
How are property taxes in Putnam calculated?
Property taxes in Putnam, 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 Putnam's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Putnam, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Putnam, Putnam County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.8%
Estimate Property Tax Bill
$3,436
$3,189
How Does the Putnam Property Tax Calculator Work?
Use this Putnam property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Putnam's median effective tax rate of 2.80% — based on actual property records in Putnam County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment system uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Putnam'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 Putnam: rates are 2.80% in 61560, and the median tax bill is $4,270 across the ZIP code.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Putnam.
About Putnam Property Taxes
About Property Taxes in Putnam, Putnam, Illinois
Putnam’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 Putnam 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 Putnam. Homeowners in the 61560 ZIP code carry a median effective rate of 2.80%, while those in the same ZIP code pay 2.80%. This reflects how school district boundaries and local assessment districts are drawn across Putnam County. Understanding where you live in Putnam can make a meaningful difference to your annual tax bill.
Putnam homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the July 5, 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 Putnam, Putnam 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 Putnam'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 Putnam 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 Putnam County Tax Rate
2.81%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Putnam, Putnam County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61560 | 2.48% | 2.65% | 2.80% | 3.69% | 4.79% |
Source: Ownwell
Property Tax Assessment Values Across Putnam, Putnam County, Illinois
When examining property taxes in Putnam, 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 Putnam 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 Putnam County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the spring.
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 Putnam.
For example, the median home price in Putnam is $122,730, with tax bills ranging significantly across the county. 61560 has the highest median home price at $122,730.
Property Tax Assessment Values Across Putnam, Putnam County, Illinois
Source: Ownwell
$115,596
$152,957
$190,317
Median Putnam Market Value
$122,730
Median Putnam County Market Value
$142,992
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Putnam, Putnam County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61560 | $10,716 | $49,410 | $122,730 | $176,056 | $304,641 |
Source: Ownwell
Property Tax Bills Across Putnam, Putnam County, Illinois
Property tax bills in Putnam are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. The amount a homeowner owes can also reflect exemptions, local taxing districts, and any changes in the home’s assessed value over time.
With a median home price of $122,730, property taxes can still vary widely from one homeowner to another. The 25th percentile tax bill is $2,354, while the 75th percentile tax bill is $6,663 and the 90th percentile reaches $9,182. The median tax bill in ZIP code 61560 is $4,270.
Because property tax bills are tied to assessed value and local rates, homeowners with similar homes may pay very different amounts depending on where they live and how their property is classified. For many homeowners, even small changes in assessed value can have a noticeable impact on the annual tax bill.
Median Putnam Tax Bill
$4,270
Median Putnam County Tax Bill
$4,451
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Putnam, Putnam County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61560 | $483 | $2,354 | $4,270 | $6,663 | $9,182 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 5 |
Links | |
|---|---|
| Putnam Tax Assessor | |
| Website | putnamil.devnetwedge.com |