Louisville, Clay County, Illinois Property Taxes

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

Median Louisville, IL effective property tax rate: 1.69%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Louisville, IL home value: $44,322
Median annual Louisville, IL tax bill: $631, $1,769 lower than the national median property tax bill of $2,400.

How are property taxes in Clay calculated?

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

Last Updated March 1, 2025

Louisville, Clay County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.69%

Estimate Property Tax Bill

$749

$695

Ownwell’s Louisville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Louisville with just two data points.

By entering your property's estimated assessed value, our calculator applies Louisville’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 Louisville, Clay County, Illinois

As noted earlier, local government entities set tax rates, which can vary widely within a state. Why? Because 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 Louisville’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 Louisville, 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 Louisville Taxx Rate

1.69%

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 Louisville, Clay County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62858	0.28%	1.02%	1.69%	2.13%	2.92%

Source: Ownwell

Property Tax Assessment Values Across Louisville, Clay County, Illinois

When examining property taxes in LOUISVILLE, 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 LOUISVILLE. For example, the median home price in LOUISVILLE is $44,322, with tax bills ranging significantly across the county. Zip code 62858 has the highest median home price at $44,322.

Property Tax Assessment Values Across Louisville, Clay County, Illinois

Source: Ownwell

$29,055

$39,255

$49,455

Median Louisville Market Value

$44,322

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 Louisville, Clay County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62858	$10,871	$20,562	$44,322	$91,872	$160,540

Source: Ownwell

Property Tax Bills Across Louisville, Clay County, Illinois

In Louisville, located in Clay County, IL, property tax bills are determined by assessing the fair market value of a home and applying the local tax rate. The median home price in Louisville is $44,322, and property tax bills can vary significantly across different percentiles. For instance, homeowners at the 25th percentile pay around $192, while those at the 75th percentile face bills of approximately $1,683. At the 90th percentile, tax bills can reach up to $3,114. These figures reflect the disparity in tax burdens, which can be influenced by factors such as property location and market conditions. The median property tax bill in Louisville stands at $631, which is below the national median of $2,400. This lower tax bill can be both a relief and a challenge for homeowners seeking to balance affordability with necessary community services. Ownwell offers a solution by helping homeowners navigate the complexities of property tax assessments, ensuring they only pay their fair share and potentially reducing their tax burden through appeals and exemptions.

Property Tax Bills Across Louisville, Clay County, Illinois

Source: Ownwell

$334

$583

$832

Median Louisville Tax Bill

$631

Median Clay County Tax Bill

$639

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Louisville, Clay County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62858	$69	$192	$631	$1,683	$3,114

Source: Ownwell