Olive Branch, Alexander County, Illinois Property Taxes

Name: Property Tax Bills Across Olive Branch, Alexander County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median OLIVE BRANCH, IL effective property tax rate: 2.47%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median OLIVE BRANCH, IL home value: $50,154
Median annual OLIVE BRANCH, IL tax bill: $758, $1,642 lower than the national median property tax bill of $2,400.

How are property taxes in Alexander calculated?

Property taxes in OLIVE BRANCH, IL 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 OLIVE BRANCH’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in OLIVE BRANCH, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Olive Branch, Alexander County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.47%

Estimate Property Tax Bill

$1,239

$1,150

Ownwell’s Olive Branch Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Olive Branch with just two data points. By entering your property's estimated assessed value, our calculator applies Olive Branch’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Alexander County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Olive Branch, Alexander County, Illinois

Local government entities set tax rates, which can vary widely within a state. 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.

Olive Branch in Alexander County, IL, has a notably higher property tax rate compared to the national median of 1.02%. The median property tax rate in Illinois is 2.47%, which is significantly above the national average and reflects the highest rate within the state. This means property owners in Olive Branch are subject to a considerable tax burden relative to other regions. Understanding these rates is crucial for property owners aiming to manage their expenses effectively. By comparing Olive Branch’s effective property tax rate to other cities in Illinois and the median property tax rates in the state and the U.S., property owners can better navigate their financial responsibilities and explore potential savings through tax appeals or exemptions.

Property Tax Rates Across Olive Branch, Alexander County, Illinois

Source: Ownwell

2.04%

3.92%

5.81%

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 Olive Branch Taxx Rate

2.47%

Median Effective Alexander County Taxx Rate

2.47%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Olive Branch, Alexander County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62969	1.32%	2.00%	2.47%	2.72%	3.23%

Source: Ownwell

Property Tax Assessment Values Across Olive Branch, Alexander County, Illinois

When examining property taxes in Olive Branch, IL, 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 Alexander County appraisal district 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.

In Alexander County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Olive Branch. For example, the median home price in Olive Branch is $50,154, with tax bills ranging significantly across the county. Zip code 62969 has the highest median home price at $50,154.

Property Tax Assessment Values Across Olive Branch, Alexander County, Illinois

Source: Ownwell

$9,579

$32,363

$55,146

Median Olive Branch Market Value

$50,154

Median Alexander County Market Value

$44,430

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Olive Branch, Alexander County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62969	$7,454	$13,572	$50,154	$103,038	$146,206

Source: Ownwell

Property Tax Bills Across Olive Branch, Alexander County, Illinois

In Olive Branch, Alexander County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property location and local government budgets influence these rates. With a median home price of $50,154, the property tax bills range significantly, with the 25th percentile at $353 and the 90th percentile reaching $3,733. The median property tax bill in the area is $758, which is notably lower than the national median of $2,400. This variation affects homeowners differently, depending on their property's assessed value and the local tax rate. Ownwell assists homeowners by providing property tax appeal and exemption services, potentially lowering their tax liabilities. By leveraging expert knowledge and local data, Ownwell helps ensure that homeowners are not overpaying and are taking advantage of any available exemptions, ultimately saving them money on their property tax bills.

Property Tax Bills Across Olive Branch, Alexander County, Illinois

Source: Ownwell

$457

$1,145

$1,833

Median Olive Branch Tax Bill

$758

Median Alexander County Tax Bill

$956

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Olive Branch, Alexander County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62969	$186	$353	$758	$2,230	$3,733

Source: Ownwell