Pana, Shelby County, Illinois Property Taxes
Property Taxes in Pana, Illinois
Median Pana, Illinois effective property tax rate: 2.22%, significantly lower than the national median of 1.02%, and lower than the Illinois state median of 2.33%.
Median Pana, Illinois home value: $150,414
Median annual Pana, Illinois tax bill: $3,434, higher than the national median property tax bill of $2,400.
How are property taxes in Shelby calculated?
Property taxes in Pana, 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 Pana's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Pana, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Pana, Shelby County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.22%
Estimate Property Tax Bill
$3,339
$3,099
How Does the Pana Property Tax Calculator Work?
Use this Pana property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Pana's median effective tax rate of 2.22% — based on actual property records in Shelby 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 Pana'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 Pana: rates range from 2.22% in 62557 to 2.22% in 62557, 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 Pana.
About Pana Property Taxes
About Property Taxes in Pana, Shelby, Illinois
Pana’s median effective property tax rate of 2.22% is lower than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Shelby County base levy combined with local school district levies and special service areas that can vary by subdivision throughout the city.
Property tax rates are not uniform across Pana. Homeowners in the 62557 ZIP code carry a median effective rate of 2.22%, while the same ZIP also reflects the city’s lowest rate of 2.22%. That consistency means location-based variation is limited within Pana, but the assessed value of a home still plays a major role in the final bill.
Pana homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the July 11, 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 Pana, Shelby 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 Pana'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 Pana Tax Rate
2.22%
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 Shelby County Tax Rate
1.92%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Pana, Shelby County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62557 | 1.22% | 1.99% | 2.22% | 2.42% | 2.42% |
Source: Ownwell
Property Tax Assessment Values Across Pana, Shelby County, Illinois
When examining property taxes in Pana, 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 Shelby County assessment office 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 Shelby County, assessment notices are sent in the spring each year. They'll 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. 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 Pana.
For example, the median home price in Pana is $150,414, with tax bills ranging significantly across the county. 62557 has the highest median home price at $150,414.
Property Tax Assessment Values Across Pana, Shelby County, Illinois
Source: Ownwell
$92,523
$181,191
$269,859
Median Pana Market Value
$150,414
Median Shelby County Market Value
$135,435
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Pana, Shelby County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62557 | $32,346 | $85,374 | $150,414 | $208,868 | $275,415 |
Source: Ownwell
Property Tax Bills Across Pana, Shelby County, Illinois
Property tax bills in Pana are based on the assessed value of a home, not its market price. Local taxing authorities apply the tax rate to that assessed value to determine the bill, and the final amount can also reflect exemptions and other local levies. For a home with a median price of $150,414, the tax bill can vary widely depending on where the property is located and how it is assessed.
In Pana, the median property tax bill is $3,434, which is above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%. Homeowners with bills in the 25th percentile pay $1,455, while those in the 75th percentile pay $4,559. At the 90th percentile, bills reach $6,041. These differences show how assessment and local tax rates can significantly affect what homeowners owe each year.
Median Pana Tax Bill
$3,434
Median Shelby County Tax Bill
$2,407
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Pana, Shelby County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62557 | $454 | $1,455 | $3,434 | $4,559 | $6,041 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 11 |
Links | |
|---|---|
| Shelby Tax Assessor | |
| Website | shelby-il.bhamaps.com |