County property tax calculator
Property Tax Calculator for Boone County
Boone County carries one of the heaviest property tax loads in the country. At 2.269%, the effective rate runs well above the 1.07% US average — a gap that shows up every month in escrow. On the county's median home value of $198,600, the annual tax bill comes to $4,506, or roughly $376 per month paid through the mortgage servicer. Buyers relocating from lower-tax states often notice the difference in their first escrow analysis. Local services funded by property tax — schools, roads, emergency response — tend to reflect the higher rate, but so does the buyer's monthly carrying cost. Anyone considering a purchase here should factor the tax load into affordability math before the offer. Boone County's median home value of $198,600 runs below the Illinois state median — a market where buyers get more square footage per dollar. First-time buyers often find this range accessible, especially with FHA or VA financing that reduces the down payment requirement. Lower property values also mean lower absolute tax bills and, in many cases, more favorable insurance rates. Investors evaluating rental yield often look at markets in this tier for cash flow. The trade-off is typically commute distance, school district variation, or access to high-wage employment — factors buyers should weigh against the lower price point. Long-term appreciation tends to track the regional average rather than lead it. The price point here supports a wider range of down payment strategies, from low-down conventional options to FHA and VA programs, giving buyers more flexibility in structuring the purchase.
Property Tax Details
National average is 1.07%
Used to project future tax burden
Annual Property Tax
$0
Insights
Property Tax Landscape in Boone County
Boone County taxes property at 2.269%, moderately above Illinois's average of 2.05%. On a median home, the difference adds roughly $435 per year compared with the state figure. For buyers weighing this county against neighbors, the extra tax load is real but not extreme — typically offset by local amenities, school quality, or access to employment. Escrow at this level adjusts annually with assessed value. Buyers should model the county rate in their monthly budget rather than relying on state averages, since even within Illinois, rates vary widely by jurisdiction. Within Illinois, Boone County ranks as the 11th highest of 102 counties by effective property tax rate.
Boone County's median home value of $198,600 runs below the Illinois state median — a market where buyers get more square footage per dollar. First-time buyers often find this range accessible, especially with FHA or VA financing that reduces the down payment requirement. Lower property values also mean lower absolute tax bills and, in many cases, more favorable insurance rates. Investors evaluating rental yield often look at markets in this tier for cash flow. The trade-off is typically commute distance, school district variation, or access to high-wage employment — factors buyers should weigh against the lower price point. Long-term appreciation tends to track the regional average rather than lead it. Median household income in Boone County runs below the Illinois state average at $81,638. Buyers here often rely on FHA, USDA, or state down-payment assistance programs to make the numbers work. The price-to-income ratio of 2.4x reflects a balanced profile for the region — median-income buyers have reasonable access to the market. Median gross rent runs $1,011 per month, giving renters a baseline to compare against ownership costs in the same market.
Property Tax Scenarios — Boone County
In an affordable market, even modest purchases generate tax bills that matter for the monthly budget. The scenarios below start below the median and extend up, showing how the tax component scales. First-time buyers can use this to model escrow before submitting an offer.
| Home Value | Annual Tax | Monthly Escrow | 10-Year Total |
|---|---|---|---|
| $100,000 | $2,269 | $189 | $22,690 |
| $150,000 | $3,404 | $284 | $34,035 |
| $200,000 | $4,538 | $378 | $45,380 |
| $300,000 | $6,807 | $567 | $68,070 |
| $395,000 | $8,963 | $747 | $89,626 |
Frequently asked questions
The questions below cover the most common concerns for buyers entering a high-property-tax jurisdiction. Each answer is grounded in Boone County's own rate, median home value, and Census-reported income figures.
What is the property tax rate in Boone County?
Boone County has an effective property tax rate of 2.269%, one of the highest in the country (national average: 1.07%). On a median home of $198,600, that's about $4,506 per year, or $376 monthly through escrow.
How much are property taxes on a home in Boone County?
At the county median of $198,600, annual property taxes run roughly $4,506, collected through mortgage escrow at about $376 per month.
How does Boone County compare to Illinois?
Boone County's 2.269% rate is moderately above Illinois's statewide average of 2.05%. The difference equals about $435 per year on a median home.
What is the median income in Boone County?
Median household income in Boone County is $81,638 (Census ACS 2023). Median gross rent runs $1,011 per month.
Are property taxes deductible in Boone County?
Yes, property taxes are deductible on federal returns when you itemize, subject to the SALT cap ($10,000 for most filers). Boone County homeowners paying $4,506 annually may benefit if their combined state and local tax burden exceeds the standard deduction.
How are property taxes calculated in Boone County?
The county assessor multiplies your home's assessed value by the local tax rate. On a $198,600 home at the county's effective rate of 2.269%, the annual bill is approximately $4,506.
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Disclaimer: This calculator and the content on this page are for educational purposes only. They do not constitute financial, legal, or tax advice. Rates, loan limits, and eligibility criteria vary by lender, location, and borrower profile. Always consult a licensed financial professional before making borrowing decisions. CalcPier is independent and not affiliated with any lender listed on this page.
