Albion, Edwards County, Illinois Property Taxes
Median Albion, IL effective property tax rate: 2.43%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Albion, IL home value: $31,350
Median annual Albion, IL tax bill: $698, $1,702 lower than the national median property tax bill of $2,400.
How are property taxes in Edwards calculated?
Property taxes in Albion, 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 Albion’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Albion, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Albion, Edwards County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.43%
Estimate Property Tax Bill
$762
$707
Property Tax Rates Across Albion, Edwards County, Illinois
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 Albion Tax Rate
2.43%
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 Edwards County Tax Rate
2.43%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Albion, Edwards County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62806 | 1.71% | 2.05% | 2.43% | 2.43% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Albion, Edwards County, Illinois
When examining property taxes in Albion, 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 Edwards 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 Edwards 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 Albion. For example, the median home price in Albion is $31,350, with tax bills ranging significantly across the county. Zip code 62806 has the highest median home price at $31,350.
Property Tax Assessment Values Across Albion, Edwards County, Illinois
Source: Ownwell
$31,350
$31,350
$31,350
Median Albion Market Value
$31,350
Median Edwards County Market Value
$30,360
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Albion, Edwards County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62806 | $15,180 | $21,600 | $31,350 | $55,050 | $78,798 |
Source: Ownwell
Property Tax Bills Across Albion, Edwards County, Illinois
In Albion, located in Edwards County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a fraction of the market value, and various factors, including location, property size, and improvements, influence this assessment. Homeowners in Albion face a median property tax bill of $698, which is significantly lower than the national median of $2,400. However, property tax bills can vary; the 25th percentile tax bill is $513, while the 75th percentile reaches $1,303, demonstrating the range of potential costs for homeowners.
High property taxes can strain homeowners, but Ownwell offers a solution by providing property tax appeal and exemption services. By leveraging their expertise, Ownwell helps homeowners ensure their property is fairly assessed, potentially lowering their tax bills. This service can be especially beneficial in Albion, where understanding local tax nuances can lead to significant savings. With Ownwell's assistance, homeowners can navigate the complexities of property taxes and reduce their financial burden.
Median Albion Tax Bill
$698
Median Edwards County Tax Bill
$698
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Albion, Edwards County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62806 | $272 | $513 | $698 | $1,303 | $1,737 |
Source: Ownwell