Mason County Property Taxes
The median property tax rate in Mason County is 2.98%, which is significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Mason County, the typical annual property tax bill reaches $2,133, which still falls below the national median of $2,690. Property taxes in Mason County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Mason 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 Havana or another part of Mason County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mason 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 Mason County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Mason County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Mason 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 Mason County, Illinois
Property taxes in Mason County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Mason County is 2.98%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Mason County set these rates annually, and they can vary significantly between different areas within the county. Each year, Mason 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 Havana has one of the higher property tax rates in Illinois at 3.29%, while the city of New Holland boasts one of the lowest at 2.69%. Analyzing how Mason County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mason County Tax Rate
2.98%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mason County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bath | 1.73% | 2.43% | 2.75% | 3.05% | 3.28% |
| Chandlerville | 2.32% | 2.57% | 2.83% | 3.13% | 3.29% |
| Easton | 2.48% | 2.75% | 3.26% | 3.65% | 4.24% |
| Forest City | 2.59% | 2.79% | 3.07% | 3.55% | 3.88% |
| Havana | 2.17% | 2.74% | 3.29% | 3.74% | 4.00% |
| Kilbourne | 2.24% | 2.66% | 2.93% | 3.36% | 3.94% |
| Manito | 2.50% | 2.95% | 3.17% | 3.21% | 3.56% |
| Mason City | 2.36% | 2.66% | 2.83% | 3.07% | 3.27% |
| New Holland | 2.38% | 2.46% | 2.69% | 2.74% | 2.85% |
| San Jose | 2.39% | 2.64% | 2.76% | 3.29% | 3.84% |
| Topeka | 2.23% | 2.68% | 2.91% | 3.19% | 3.47% |
Source: Ownwell
Property Tax Assessment Values Across Mason County, Illinois
In Mason 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 Mason 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 Mason 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. For instance, Mason City has the highest median tax bill at $3,171, while Chandlerville has the lowest at $1,262. Being aware of these valuation processes in Mason County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Mason County Assessed Value
$73,888
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mason County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bath | $6,804 | $26,072 | $56,373 | $104,440 | $170,349 |
| Chandlerville | $5,641 | $19,584 | $47,322 | $121,308 | $173,860 |
| Easton | $9,486 | $22,803 | $65,487 | $113,739 | $175,671 |
| Forest City | $22,610 | $36,334 | $78,759 | $138,614 | $183,064 |
| Havana | $9,196 | $23,766 | $54,526 | $101,831 | $157,368 |
| Kilbourne | $18,593 | $42,088 | $79,932 | $124,899 | $179,595 |
| Manito | $19,101 | $53,679 | $75,651 | $119,766 | $168,394 |
| Mason City | $20,365 | $50,560 | $109,494 | $175,467 | $242,887 |
| New Holland | $63,052 | $72,430 | $90,486 | $129,457 | $236,788 |
| San Jose | $23,477 | $55,215 | $112,053 | $166,569 | $235,898 |
| Topeka | $10,538 | $27,801 | $79,452 | $112,954 | $169,620 |
Source: Ownwell
Property Tax Bills Across Mason County, Illinois
In Mason County, IL, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. Local tax rates, set by various taxing authorities such as schools and municipalities, are then applied to this assessed value. For instance, the median home price in Mason County is $73,888, and property tax rates vary, resulting in a range of tax bills. Homeowners in the 25th percentile pay around $1,026, while those in the 75th percentile face bills up to $3,899, and the highest 10% can see tax bills reaching $5,739. Factors influencing these bills include property location, home value, and specific local tax rates. For example, Mason City has the highest median tax bill at $3,171, whereas Chandlerville has the lowest at $1,262. These property taxes fund essential services such as education, infrastructure, and public safety, impacting homeowners by contributing to the overall community welfare while also representing a significant annual expense.
Average Mason County Tax Bill
$2,133
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Mason County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bath | $237 | $675 | $1,421 | $2,802 | $4,784 |
| Chandlerville | $188 | $584 | $1,262 | $3,232 | $4,443 |
| Easton | $334 | $788 | $2,008 | $3,917 | $5,180 |
| Forest City | $796 | $1,204 | $2,805 | $4,694 | $5,338 |
| Havana | $373 | $758 | $1,791 | $2,837 | $4,712 |
| Kilbourne | $561 | $1,214 | $2,100 | $3,735 | $5,040 |
| Manito | $815 | $1,626 | $2,385 | $3,587 | $5,412 |
| Mason City | $626 | $1,504 | $3,171 | $4,935 | $7,047 |
| New Holland | $1,670 | $1,930 | $2,284 | $3,480 | $6,363 |
| San Jose | $964 | $1,694 | $3,070 | $4,760 | $6,521 |
| Topeka | $341 | $730 | $1,930 | $3,423 | $4,831 |
Source: Ownwell
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