Montrose, Cumberland County, Illinois Property Taxes

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

Median Montrose, IL effective property tax rate: 1.79%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Montrose, IL home value: $124,389
Median annual Montrose, IL tax bill: $2,330, $70 lower than the national median property tax bill of $2,400.

How are property taxes in Cumberland calculated?

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

Last Updated March 1, 2025

Montrose, Cumberland County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.79%

Estimate Property Tax Bill

$2,227

$2,066

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

By entering your property's estimated assessed value, our calculator applies Montrose’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 Cumberland.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Montrose, Cumberland County, Illinois

Local government bodies are responsible for setting property tax rates, which can differ significantly across Illinois. This variation is due to the fact that each county annually calculates the necessary budget to maintain public services and divides it by the total value of all taxable properties within its borders. This calculation determines the property tax rate. While the process involves various votes and legal stipulations, this is the core mechanism behind the annual tax rate determination.

In Montrose, located in Cumberland County, the effective property tax rate stands at 1.79%. This rate is notably higher than the national median property tax rate of 1.02%. When compared to other cities across Illinois, Montrose's tax rate reflects the county's specific budgetary needs and property values. The median property tax rate in Illinois also hovers around 1.79%, illustrating a consistent approach to property taxation within the state. As property tax rates directly impact homeowners, understanding these local variations is crucial for property owners aiming to manage their tax liabilities effectively.

Property Tax Rates Across Montrose, Cumberland County, Illinois

Source: Ownwell

1.72%

1.90%

2.08%

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 Montrose Tax Rate

1.79%

Median Effective Cumberland County Tax Rate

1.86%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Montrose, Cumberland County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62445	1.35%	1.64%	1.79%	1.93%	2.08%

Source: Ownwell

Property Tax Assessment Values Across Montrose, Cumberland County, Illinois

When examining property taxes in Montrose, Illinois, 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 Cumberland County Assessor's Office 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 Cumberland 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 Montrose.

For example, the median home price in Montrose is $124,389, with tax bills ranging significantly across the county. 62445 has the highest median home price at $124,389.

Property Tax Assessment Values Across Montrose, Cumberland County, Illinois

Source: Ownwell

$87,810

$141,452

$195,093

Median Montrose Market Value

$124,389

Median Cumberland County Market Value

$107,319

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Montrose, Cumberland County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62445	$23,811	$69,408	$124,389	$180,846	$232,550

Source: Ownwell

Property Tax Bills Across Montrose, Cumberland County, Illinois

Property tax bills in Montrose, located in Cumberland County, IL, are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Montrose is $124,389, and while the national median property tax bill is $2,400, Montrose's tax bills vary significantly. Homeowners in Montrose with properties at the 25th percentile can expect a tax bill of $1,347, whereas those at the 75th percentile might see bills around $3,348. For those in the 90th percentile, tax bills can reach up to $4,334. Such variability can impact homeowners' financial planning significantly. Ownwell offers valuable services to help homeowners reduce their property tax burdens. By providing expert property tax appeal and exemption services, Ownwell can assist homeowners in ensuring their property is fairly assessed, potentially leading to significant savings on their annual tax bills.

Property Tax Bills Across Montrose, Cumberland County, Illinois

Source: Ownwell

$1,446

$2,482

$3,517

Median Montrose Tax Bill

$2,330

Median Cumberland County Tax Bill

$1,976

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Montrose, Cumberland County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62445	$765	$1,347	$2,330	$3,348	$4,334

Source: Ownwell