Edgewood, Fayette County, Illinois Property Taxes

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

Median Edgewood, IL effective property tax rate: 2.56%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Edgewood, IL home value: $37,206
Median annual Edgewood, IL tax bill: $930, $1,470 lower than the national median property tax bill of $2,400.

How are property taxes in Fayette 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, Fayette County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.56%

Estimate Property Tax Bill

$952

$884

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

Property Tax Rates Across Edgewood, Fayette County, Illinois

Local government entities determine tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the core of the annual process.

Below, 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. Edgewood, located in Fayette County, has a property tax rate of 2.56%, which is significantly higher than the national median property tax rate of 1.02%. This rate also stands out as the highest and lowest median tax rate within the zip code 62426, highlighting the uniformity within this region. Understanding these rates is crucial for property owners looking to manage their tax liabilities effectively. With such a high rate compared to the national average, property owners in Edgewood may benefit from exploring tax appeal and exemption services to ensure fair property tax assessments.

Property Tax Rates Across Edgewood, Fayette County, Illinois

Source: Ownwell

1.88%

2.22%

2.56%

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

2.56%

Median Effective Fayette County Taxx Rate

2.13%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Edgewood, Fayette County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62426	1.17%	2.12%	2.56%	2.56%	2.56%

Source: Ownwell

Property Tax Assessment Values Across Edgewood, Fayette 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 Fayette 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 Fayette 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 Edgewood. For example, the median home price in Edgewood is $37,206, with tax bills ranging significantly across the county. Zip code 62426 has the highest median home price at $37,206.

Property Tax Assessment Values Across Edgewood, Fayette County, Illinois

Source: Ownwell

$37,206

$63,704

$90,201

Median Edgewood Market Value

$37,206

Median Fayette County Market Value

$73,758

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Edgewood, Fayette County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62426	$7,988	$19,911	$37,206	$60,585	$98,899

Source: Ownwell

Property Tax Bills Across Edgewood, Fayette County, Illinois

In Edgewood, Fayette County, IL, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in this area is $37,206, and property tax rates are calculated based on this assessed value. Homeowners in Edgewood experience a range of tax bills, with the 25th percentile paying around $360 and the 75th percentile paying $1,308. The 90th percentile sees bills as high as $2,087, which can significantly impact household budgets. These figures highlight the variance in property tax burdens, emphasizing the importance of accurate assessments. Compared to the national median property tax rate of 1.02% and a median tax bill of $2,400, Edgewood homeowners generally face lower property tax bills. However, ensuring that your property is fairly assessed can lead to potential savings. Ownwell offers expertise in property tax appeals and exemptions, helping homeowners navigate the complexities of property tax assessments. By leveraging Ownwell’s services, homeowners can potentially reduce their tax liabilities and achieve significant savings.

Property Tax Bills Across Edgewood, Fayette County, Illinois

Source: Ownwell

$847

$1,318

$1,789

Median Edgewood Tax Bill

$930

Median Fayette County Tax Bill

$1,347

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Edgewood, Fayette County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62426	$138	$360	$930	$1,308	$2,087

Source: Ownwell