Morgan County Property Taxes
The median property tax rate in Morgan County is 3.18%, 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 Morgan County at $54,570, the typical annual property tax bill reaches $1,473, which is below the national median of $2,690. Property taxes in Morgan 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 Morgan 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 Jacksonville or another part of Morgan County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Morgan 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 Morgan County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Morgan County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Morgan 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 Morgan County, Illinois
Property taxes in Morgan County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Morgan County is 3.18%, which is higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Morgan County set these rates annually, and they can vary significantly between different areas within the county. Each year, Morgan 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. The following data compares Morgan County's effective property tax rate with other counties in Illinois and the national median. For comparison, the city of Jacksonville has one of the higher property tax rates in Illinois at 3.18%, while the city of Waverly boasts one of the lowest at 1.87%. Analyzing how Morgan County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Morgan County Tax Rate
3.18%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morgan County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alexander | 0.87% | 2.16% | 2.16% | 2.17% | 2.48% |
| Arenzville | 0.52% | 1.20% | 2.34% | 2.34% | 2.34% |
| Ashland | 1.40% | 2.44% | 2.57% | 2.70% | 2.70% |
| Chapin | 2.00% | 2.26% | 2.30% | 2.56% | 2.56% |
| Concord | 1.75% | 2.34% | 2.39% | 2.39% | 2.39% |
| Franklin | 1.12% | 1.67% | 2.07% | 2.17% | 2.17% |
| Jacksonville | 2.37% | 3.18% | 3.18% | 3.18% | 3.18% |
| Meredosia | N/A | N/A | N/A | N/A | N/A |
| Murrayville | 1.47% | 1.78% | 2.21% | 2.49% | 2.73% |
| Pleasant Plains | 2.70% | 2.70% | 2.70% | 2.70% | 2.70% |
| South Jacksonville | 2.24% | 2.64% | 2.64% | 2.64% | 2.64% |
| Waverly | 1.54% | 1.67% | 1.87% | 1.87% | 1.87% |
| Winchester | 2.44% | 2.44% | 2.44% | 2.44% | 2.44% |
| Woodson | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Morgan County, Illinois
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Morgan County, Illinois. 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 Morgan 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 Morgan 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. The highest median tax bill in Morgan County is in Pleasant Plains at $11,970, while the lowest is in Waverly at $523. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Morgan County Assessed Value
$54,570
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morgan County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alexander | $1,290 | $2,280 | $39,960 | $116,310 | $155,946 |
| Arenzville | $25,344 | $27,855 | $32,040 | $70,470 | $93,528 |
| Ashland | $16,548 | $28,155 | $34,110 | $91,125 | $196,986 |
| Chapin | $9,561 | $21,248 | $47,775 | $68,318 | $97,077 |
| Concord | $1,110 | $1,380 | $1,620 | $78,660 | $134,352 |
| Franklin | $16,962 | $21,630 | $38,760 | $70,350 | $78,996 |
| Jacksonville | $12,438 | $34,110 | $57,900 | $87,990 | $143,406 |
| Meredosia | N/A | N/A | N/A | N/A | N/A |
| Murrayville | $18,360 | $37,815 | $63,930 | $112,260 | $161,124 |
| Pleasant Plains | $443,850 | $443,850 | $443,850 | $443,850 | $443,850 |
| South Jacksonville | $60,126 | $60,570 | $72,120 | $101,040 | $133,314 |
| Waverly | $5,700 | $18,098 | $39,180 | $61,770 | $91,011 |
| Winchester | $41,220 | $41,220 | $41,220 | $41,220 | $41,220 |
| Woodson | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Morgan County, Illinois
In Morgan County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence this calculation, including property location, home size, and any applicable exemptions. For example, in Morgan County, the median home price is $54,570. Tax bills can vary significantly within the county, with the 25th percentile tax bill at $709 and the 75th percentile reaching $2,340. At the 90th percentile, homeowners might see a tax bill as high as $3,793. The highest median tax bill in the county is in Pleasant Plains at $11,970, while Waverly has the lowest at $523. Compared to the national median property tax rate of 0.99%, Morgan County's tax rates can have a substantial impact on homeowners. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Morgan County Tax Bill
$1,473
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Morgan County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Alexander | $15 | $18 | $49 | $1,078 | $1,942 |
| Arenzville | $164 | $310 | $553 | $650 | $709 |
| Ashland | $50 | $369 | $828 | $2,415 | $4,835 |
| Chapin | $228 | $811 | $1,117 | $1,466 | $2,330 |
| Concord | $27 | $33 | $39 | $1,066 | $2,829 |
| Franklin | $282 | $431 | $764 | $970 | $1,268 |
| Jacksonville | $395 | $979 | $1,693 | $2,635 | $4,164 |
| Meredosia | N/A | N/A | N/A | N/A | N/A |
| Murrayville | $159 | $681 | $1,157 | $1,819 | $2,311 |
| Pleasant Plains | $11,970 | $11,970 | $11,970 | $11,970 | $11,970 |
| South Jacksonville | $1,489 | $1,602 | $1,907 | $2,515 | $3,144 |
| Waverly | $107 | $339 | $523 | $1,157 | $1,705 |
| Winchester | $1,008 | $1,008 | $1,008 | $1,008 | $1,008 |
| Woodson | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell