Martinsville, Clark County, Illinois Property Taxes

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

Median Martinsville, IL effective property tax rate: 2.30%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Martinsville, IL home value: $54,330
Median annual Martinsville, IL tax bill: $1,196, $1,204 lower than the national median property tax bill of $2,400.

How are property taxes in Clark County calculated?

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

Last Updated March 1, 2025

Martinsville, Clark County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.3%

Estimate Property Tax Bill

$1,250

$1,160

Ownwell’s Martinsville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Martinsville with just two data points. By entering your property's estimated assessed value, our calculator applies Martinsville’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 Clark County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Martinsville, Clark 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. Below, you can compare Martinsville’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Martinsville, located in Clark County, has a median property tax rate of 2.30%, significantly higher than the national median of 1.02%. This rate places it among the highest in Illinois. Despite Illinois' reputation for high property taxes, Martinsville stands out with its elevated rate. For homeowners, this means higher tax bills compared to the national average, impacting the overall cost of homeownership. Understanding these rates is crucial for property owners looking to manage expenses and explore potential savings through tax appeals or exemptions.

Property Tax Rates Across Martinsville, Clark County, Illinois

Source: Ownwell

1.93%

2.20%

2.46%

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 Martinsville Tax Rate

2.30%

Median Effective Clark County Tax Rate

2.09%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Martinsville, Clark County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62442	1.23%	1.82%	2.30%	2.76%	3.00%

Source: Ownwell

Property Tax Assessment Values Across Martinsville, Clark County, Illinois

When examining property taxes in Martinsville, 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 Clark 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 Clark County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Martinsville. For example, the median home price in Martinsville is $54,330, with tax bills ranging significantly across the county. Zip code 62442 has the highest median home price at $54,330.

Property Tax Assessment Values Across Martinsville, Clark County, Illinois

Source: Ownwell

$46,682

$68,260

$89,838

Median Martinsville Market Value

$54,330

Median Clark County Market Value

$71,601

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Martinsville, Clark County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62442	$12,212	$30,712	$54,330	$91,474	$146,383

Source: Ownwell

Property Tax Bills Across Martinsville, Clark County, Illinois

In Martinsville, located in Clark County, IL, property tax bills are calculated based on the assessed value of a property, which is derived from its market value. The tax rate is applied to this assessed value to determine the final tax bill. Factors such as local government budgets, school funding, and public services influence the tax rate, impacting homeowners directly. In Martinsville, the median property tax bill is $1,196, which is below the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $583 and the 90th percentile reaching $3,629, reflecting disparities in property values and tax rates within the area. Ownwell assists homeowners by offering property tax appeal and exemption services, potentially reducing their tax burden. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners are not overpaying, providing peace of mind and financial relief. This service is particularly beneficial for those in higher tax brackets within the region.

Property Tax Bills Across Martinsville, Clark County, Illinois

Source: Ownwell

$866

$1,374

$1,881

Median Martinsville Tax Bill

$1,196

Median Clark County Tax Bill

$1,431

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Martinsville, Clark County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62442	$256	$583	$1,196	$2,096	$3,629

Source: Ownwell