Menard County Property Taxes
The median property tax rate in Menard County is 2.40%, which is significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $80,994 in Menard County, the typical annual property tax bill reaches $1,844, which, while lower than the national median of $2,690, reflects the higher tax rate. Property taxes in Menard County are calculated based on the assessed value, which is often lower than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Menard County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Petersburg or another part of Menard County, gaining comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Menard County Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Menard County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Menard County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Menard County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Menard County, Illinois
Property taxes in Menard County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Menard County is 2.40%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Menard County set these rates annually, and they can vary significantly between different areas within the county. Each year, Menard County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Middletown has one of the higher property tax rates in the state at 2.84%, while the city of Williamsville boasts one of the lowest at 1.83%. Analyzing how Menard County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Menard County Tax Rate
2.40%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Menard County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Athens | 2.12% | 2.35% | 2.36% | 2.40% | 2.40% |
| Greenview | 2.11% | 2.14% | 2.15% | 2.19% | 2.19% |
| Middletown | 2.20% | 2.21% | 2.84% | 2.84% | 2.86% |
| Oakford | 2.50% | 2.52% | 2.55% | 2.55% | 2.55% |
| Petersburg | 2.32% | 2.36% | 2.45% | 2.48% | 2.53% |
| Pleasant Plains | 2.53% | 2.53% | 2.53% | 2.53% | 2.53% |
| Tallula | 2.39% | 2.45% | 2.49% | 2.53% | 2.53% |
| Williamsville | 1.83% | 1.83% | 1.83% | 1.83% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Menard County, Illinois
In Menard County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Menard County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Menard County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Menard County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. The highest median tax bill in the county is in Pleasant Plains at $7,739, while the lowest is in Oakford at $1,153.
Average Menard County Assessed Value
$80,994
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Menard County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Athens | $10,832 | $32,422 | $93,758 | $196,678 | $248,856 |
| Greenview | $7,404 | $30,554 | $87,165 | $179,174 | $273,616 |
| Middletown | $47,540 | $99,003 | $145,866 | $149,301 | $158,272 |
| Oakford | $10,101 | $19,810 | $45,300 | $94,814 | $168,342 |
| Petersburg | $8,490 | $22,466 | $56,559 | $143,471 | $246,201 |
| Pleasant Plains | $247,735 | $269,489 | $305,746 | $342,004 | $363,758 |
| Tallula | $9,034 | $29,578 | $110,733 | $236,816 | $328,310 |
| Williamsville | $158,589 | $158,589 | $158,589 | $158,589 | $158,589 |
Source: Ownwell
Property Tax Bills Across Menard County, Illinois
In Menard County, IL, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the specific tax rate set by local authorities. For homeowners in Menard County, the financial impact can vary significantly. The median home price in the county is $80,994, with tax bills ranging from $631 at the 25th percentile to $4,168 at the 75th percentile. At the higher end, the 90th percentile tax bill reaches $6,387. Comparatively, Pleasant Plains has the highest median tax bill at $7,739, while Oakford has the lowest at $1,153. Understanding these factors is crucial for homeowners, as property taxes can significantly affect household budgets and overall affordability.
Average Menard County Tax Bill
$1,844
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Menard County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Athens | $260 | $769 | $2,097 | $4,635 | $5,720 |
| Greenview | $159 | $665 | $1,884 | $3,884 | $6,103 |
| Middletown | $1,352 | $2,750 | $3,320 | $3,604 | $3,894 |
| Oakford | $256 | $504 | $1,153 | $2,362 | $4,230 |
| Petersburg | $217 | $556 | $1,401 | $3,476 | $5,957 |
| Pleasant Plains | $6,275 | $6,824 | $7,739 | $8,654 | $9,203 |
| Tallula | $218 | $715 | $2,681 | $5,363 | $8,196 |
| Williamsville | $2,901 | $2,901 | $2,901 | $2,901 | $2,901 |
Source: Ownwell