Mulberry Grove, Fayette County, Illinois Property Taxes

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

Median Mulberry Grove, IL effective property tax rate: 2.23%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Mulberry Grove, IL home value: $81,441
Median annual Mulberry Grove, IL tax bill: $1,567, $833 lower than the national median property tax bill of $2,400.

How are property taxes in Fayette County calculated?

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

Last Updated March 1, 2025

Mulberry Grove, Fayette County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.23%

Estimate Property Tax Bill

$1,816

$1,685

Ownwell’s Mulberry Grove Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mulberry Grove with just two data points. By entering your property's estimated assessed value, our calculator applies Mulberry Grove’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 Mulberry Grove, Fayette County, Illinois

Local government entities are responsible for setting tax rates, which can differ significantly across a state. This variation is because each county annually calculates its budget for essential services and divides it by the total value of all taxable property within its boundaries. This calculation determines the property tax rate. Although setting tax rates and budgets involves votes and legal frameworks, this is the essence of the annual process. In Mulberry Grove, located in Fayette County, Illinois, the effective property tax rate is notable when compared to other cities within the state. Illinois has a median property tax rate of 2.23%, which is considerably higher than the national median of 1.02%. This means property owners in Mulberry Grove might face higher tax bills compared to the national average. Understanding these rates is crucial for property owners as they navigate the financial aspects of homeownership. By comparing Mulberry Grove’s property tax rate to both state and national figures, residents can better assess their property tax obligations.

Property Tax Rates Across Mulberry Grove, 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 Mulberry Grove Tax Rate

2.23%

Median Effective Fayette County Tax Rate

2.13%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Mulberry Grove, Fayette County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62262	0.98%	1.70%	2.23%	2.48%	2.71%

Source: Ownwell

Property Tax Assessment Values Across Mulberry Grove, Fayette County, Illinois

When examining property taxes in Mulberry Grove, 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 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 Fayette 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 Mulberry Grove. For example, the median home price in Mulberry Grove is $81,441, with tax bills ranging significantly across the county. Zip code 62262 has the highest median home price at $81,441.

Property Tax Assessment Values Across Mulberry Grove, Fayette County, Illinois

Source: Ownwell

$37,206

$63,704

$90,201

Median Mulberry Grove Market Value

$81,441

Median Fayette County Market Value

$73,758

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Mulberry Grove, Fayette County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62262	$21,006	$39,410	$81,441	$136,720	$203,750

Source: Ownwell

Property Tax Bills Across Mulberry Grove, Fayette County, Illinois

In Mulberry Grove, located within Fayette 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 percentage of the property's market value, and local authorities set the tax rate. Homeowners in Mulberry Grove face a median property tax bill of $1,567, which is lower than the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $666 and the 75th percentile reaching $3,173. Factors such as changes in property values, local government budgets, and voter-approved measures can influence these rates, impacting homeowners' financial obligations. Ownwell assists homeowners by identifying potential savings on property tax bills through appeals and exemptions. By analyzing property assessments and market conditions, Ownwell can help homeowners challenge overvaluations, potentially reducing their tax burden. This service can be particularly beneficial for those in higher tax brackets, such as those in the 90th percentile, where bills can reach up to $4,284.

Property Tax Bills Across Mulberry Grove, Fayette County, Illinois

Source: Ownwell

$847

$1,318

$1,789

Median Mulberry Grove Tax Bill

$1,567

Median Fayette County Tax Bill

$1,347

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Mulberry Grove, Fayette County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62262	$246	$666	$1,567	$3,173	$4,284

Source: Ownwell