New Milford, Winnebago County, Illinois Property Taxes
Property Taxes in New Milford, Illinois
Median New Milford, Illinois effective property tax rate: 2.42%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.
Median New Milford, Illinois home value: $3,897
Median annual New Milford, Illinois tax bill: $94, $2,306 lower than the national median property tax bill of $2,400.
How are property taxes in Winnebago calculated?
Property taxes in New Milford, 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 New Milford's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Milford, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
New Milford, Winnebago County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.42%
Estimate Property Tax Bill
$94
$88
How Does the New Milford Property Tax Calculator Work?
Use this New Milford property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies New Milford's median effective tax rate of 2.42% — based on actual property records in Winnebago County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessor uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies New Milford'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 New Milford: rates range from 2.42% in 61109 to 2.42% in 61109, 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 New Milford.
About New Milford Property Taxes
About Property Taxes in New Milford, Winnebago, Illinois
New Milford's median effective property tax rate of 2.42% is higher than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Winnebago 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 New Milford. Homeowners in the 61109 ZIP code carry a median effective rate of 2.42%, while those in the lowest ZIP code pay 2.42%. This spread reflects how school district boundaries and local assessment districts are drawn across Winnebago County. Understanding which part of New Milford you live in can make a meaningful difference to your annual tax bill.
New Milford 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 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 New Milford, Winnebago 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 New Milford'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 New Milford Tax Rate
2.42%
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 Winnebago County Tax Rate
2.49%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New Milford, Winnebago County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61109 | 2.42% | 2.42% | 2.42% | 2.42% | 2.42% |
Source: Ownwell
Property Tax Assessment Values Across New Milford, Winnebago County, Illinois
When examining property taxes in New Milford, 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 Winnebago 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 Winnebago County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of July.
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 New Milford.
For example, the median home price in New Milford is $3,897, with tax bills ranging significantly across the county. 61109 has the highest median home price at $3,897.00.
Property Tax Assessment Values Across New Milford, Winnebago County, Illinois
Source: Ownwell
$3,897
$148,167
$292,437
Median New Milford Market Value
$3,897
Median Winnebago County Market Value
$151,126
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across New Milford, Winnebago County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61109 | $3,897 | $3,897 | $3,897 | $3,897 | $3,897 |
Source: Ownwell
Property Tax Bills Across New Milford, Winnebago County, Illinois
How are property tax bills calculated in New Milford?
Property tax bills in New Milford are based on the assessed value of a home and the local tax rate set by taxing authorities. The assessed value is used to determine how much of the tax burden each homeowner pays, and that amount can change when market conditions or local assessments change. For homes in New Milford, the median property tax bill is $94, which is far below the national median property tax bill of $2,400.
What factors affect the final bill? The biggest drivers are the home’s assessed value, the local tax rate, and any exemptions that may apply. If a property is assessed higher, the bill usually rises; if the assessment is lower, the bill may decrease. This means homeowners can see changes even if they have not made improvements to the property.
How does this affect homeowners? A lower tax bill can reduce annual housing costs, while a higher assessment can increase them. Understanding how the bill is calculated helps homeowners better anticipate changes and review whether their property is being taxed fairly.
Median New Milford Tax Bill
$94
Median Winnebago County Tax Bill
$3,565
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across New Milford, Winnebago County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61109 | $94 | $94 | $94 | $94 | $94 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Winnebago Tax Assessor | |
| Website | taxes.wincoil.gov |