Edgewood, Clay County, Illinois Property Taxes

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

Median Edgewood, IL effective property tax rate: 1.45%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Edgewood, IL home value: $29,055
Median annual Edgewood, IL tax bill: $334, $2,066 lower than the national median property tax bill of $2,400.

How are property taxes in Clay calculated?

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

Last Updated March 1, 2025

Edgewood, Clay County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.45%

Estimate Property Tax Bill

$421

$391

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

Property Tax Rates Across Edgewood, Clay County, Illinois

Local government entities determine tax rates, leading to significant variation within a state. This is because each county annually estimates the budget needed to provide services and divides it by the total assessed value of all taxable properties in its jurisdiction, resulting in the property tax rate. Although votes and laws influence the setting of tax rates and budgets, this is essentially the annual process. You can compare Edgewood's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Property Tax Rates Across Edgewood, Clay County, Illinois

Source: Ownwell

1.45%

1.70%

1.94%

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 Edgewood Taxx Rate

1.45%

Median Effective Clay County Taxx Rate

1.78%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Edgewood, Clay County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62426	0.74%	1.00%	1.45%	2.35%	2.35%

Source: Ownwell

Property Tax Assessment Values Across Edgewood, Clay County, Illinois

When examining property taxes in Edgewood, 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 Clay 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 Clay 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 Edgewood. For example, the median home price in Edgewood is $29,055, with tax bills ranging significantly across the county. Zip code 62426 has the highest median home price at $29,055.

Property Tax Assessment Values Across Edgewood, Clay County, Illinois

Source: Ownwell

$29,055

$39,255

$49,455

Median Edgewood Market Value

$29,055

Median Clay County Market Value

$42,012

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Edgewood, Clay County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62426	$6,466	$19,838	$29,055	$51,052	$78,398

Source: Ownwell

Property Tax Bills Across Edgewood, Clay County, Illinois

In Edgewood, Illinois, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor. This assessed value is a percentage of the property's market value and is used to calculate the tax owed. Various factors, such as property size, location, and improvements, influence this assessed value. The median home price in Edgewood is $29,055, significantly lower than the national median, yet homeowners still face tax bills ranging from $187 at the 25th percentile to $1,374 at the 90th percentile. These taxes can be a burden, especially when compared to the national median property tax bill of $2,400.

Homeowners in Edgewood can benefit from Ownwell's services, which help identify potential savings on property tax bills. By analyzing the property's assessed value and ensuring it aligns with the market value, Ownwell can assist in appealing unfair assessments and applying for exemptions. This can lead to substantial savings, reducing the financial strain on homeowners and ensuring they only pay their fair share.

Property Tax Bills Across Edgewood, Clay County, Illinois

Source: Ownwell

$334

$583

$832

Median Edgewood Tax Bill

$334

Median Clay County Tax Bill

$639

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Edgewood, Clay County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62426	$141	$187	$334	$843	$1,374

Source: Ownwell