Murdock, Douglas County, Illinois Property Taxes
Median Murdock, IL effective property tax rate: 2.31%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Murdock, IL home value: $28,260
Median annual Murdock, IL tax bill: $435, $1,965 lower than the national median property tax bill of $2,400.
How are property taxes in Douglas calculated?
Property taxes in Murdock, 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 Murdock’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Murdock, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Murdock, Douglas County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.31%
Estimate Property Tax Bill
$653
$606
Property Tax Rates Across Murdock, Douglas County, Illinois
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.
Murdock in Douglas County, Illinois, is a prime example of how property tax rates can vary. In Murdock, the effective property tax rate stands at 2.31%. This is significantly higher than the national median property tax rate of 1.02%. Consequently, homeowners in Murdock might find their tax bills higher compared to those in other parts of the country.
When comparing Murdock’s tax rate to other cities in Illinois, it becomes evident that local factors contribute significantly to these differences. Understanding these nuances is crucial for property owners looking to navigate property taxes efficiently. Whether you are a homeowner or an investor, being informed about local tax rates can aid in making better financial decisions.
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 Murdock Taxx Rate
2.31%
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 Douglas County Taxx Rate
2.16%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
0.99%
Property Tax Rates Across Murdock, Douglas County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61941 | 0.54% | 1.26% | 2.31% | 2.41% | 2.56% |
Source: Ownwell
Property Tax Assessment Values Across Murdock, Douglas County, Illinois
When examining property taxes in Murdock, 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 Douglas 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 Douglas 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 Murdock.
For example, the median home price in Murdock is $28,260, with tax bills ranging significantly across the county. Zip code 61941 has the highest median home price at $28,260.
Property Tax Assessment Values Across Murdock, Douglas County, Illinois
Source: Ownwell
$28,260
$78,968
$129,675
Median Murdock Market Value
$28,260
Median Douglas County Market Value
$101,652
Median Illinois Market Value
$194,700
Median United States Market Value
$244,900
Property Tax Assessment Values Across Murdock, Douglas County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61941 | $8,965 | $17,013 | $28,260 | $54,567 | $67,293 |
Source: Ownwell
Property Tax Bills Across Murdock, Douglas County, Illinois
Property tax bills in Murdock, located in Douglas County, IL, are determined by the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to calculate the tax bill. In Murdock, the median home price is $28,260, significantly lower than the national median, which impacts the overall tax bill. For instance, the 25th percentile tax bill is $238, while the 75th percentile reaches $829, with the 90th percentile at $1,464. These figures indicate a range of tax burdens depending on the property's assessed value and applicable exemptions.
Homeowners in Murdock can face challenges if their property is over-assessed, leading to higher tax bills. This is where Ownwell can step in to help. By leveraging expertise in property tax appeals and exemptions, Ownwell can assist homeowners in reducing their tax liabilities. Through accurate assessment reviews and strategic appeals, homeowners can potentially save a significant amount on their property tax bills, ensuring they pay only what is fair and equitable.
Median Murdock Tax Bill
$435
Median Douglas County Tax Bill
$2,157
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Murdock, Douglas County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61941 | $119 | $238 | $435 | $829 | $1,464 |
Source: Ownwell