Flat Rock, Lawrence County, Illinois Property Taxes

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

Median Flat Rock, IL effective property tax rate: 4.06%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Flat Rock, IL home value: $23,060
Median annual Flat Rock, IL tax bill: $882, $1,518 lower than the national median property tax bill of $2,400.

How are property taxes in Lawrence County calculated?

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

Last Updated March 1, 2025

Flat Rock, Lawrence County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

4.06%

Estimate Property Tax Bill

$936

$869

Ownwell’s Flat Rock Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Flat Rock with just two data points. By entering your property's estimated assessed value, our calculator applies Flat Rock’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 Lawrence County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Flat Rock, Lawrence County, Illinois

Local government entities determine tax rates, which can differ significantly within a state. Each county annually estimates its budget needs to provide essential services and divides this by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and legislation play a role in setting these rates and budgets, this is the core process followed each year. In Flat Rock, located in Lawrence County, Illinois, the effective property tax rate is notably higher than the national median property tax rate of 1.02%. This is due to a combination of local fiscal policies and the assessed property values in the area. Compared to other cities in Illinois, Flat Rock's property tax rate stands out, reflecting the unique economic and administrative factors influencing the region. Understanding these differences is crucial for property owners, as it highlights the importance of being informed about local tax obligations and potential savings through appeals or exemptions.

Property Tax Rates Across Flat Rock, Lawrence County, Illinois

Source: Ownwell

2.06%

3.13%

4.19%

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 Flat Rock Taxx Rate

4.06%

Median Effective Lawrence County Taxx Rate

3.07%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Flat Rock, Lawrence County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62427	1.52%	2.20%	4.06%	6.60%	8.69%

Source: Ownwell

Property Tax Assessment Values Across Flat Rock, Lawrence County, Illinois

When examining property taxes in Flat Rock, 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 Lawrence 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 Lawrence 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 Flat Rock.

For example, the median home price in Flat Rock is $23,060, with tax bills ranging significantly across the county. The zip code 62427 has the highest median home price at $23,060.

Property Tax Assessment Values Across Flat Rock, Lawrence County, Illinois

Source: Ownwell

$15,791

$19,981

$24,171

Median Flat Rock Market Value

$23,060

Median Lawrence County Market Value

$22,875

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Flat Rock, Lawrence County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62427	$3,828	$8,293	$23,060	$36,554	$76,121

Source: Ownwell

Property Tax Bills Across Flat Rock, Lawrence County, Illinois

In Flat Rock, Lawrence County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $23,060, with tax bills ranging from the 25th percentile at $301 to the 90th percentile at $2,999. Compared to the national median property tax bill of $2,400, Flat Rock's tax bills can be significantly lower, but they still represent a substantial cost for homeowners. Factors influencing the tax bill include local tax rates and any applicable exemptions or deductions. Homeowners may find these taxes burdensome, especially if the assessed value does not accurately reflect the market value. Ownwell offers expert property tax appeal services to help homeowners ensure their tax assessments are fair and accurate. By reviewing assessments and identifying potential savings, Ownwell can assist in reducing property tax bills, providing financial relief and peace of mind to homeowners in Flat Rock.

Property Tax Bills Across Flat Rock, Lawrence County, Illinois

Source: Ownwell

$472

$677

$882

Median Flat Rock Tax Bill

$882

Median Lawrence County Tax Bill

$743

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Flat Rock, Lawrence County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62427	$127	$301	$882	$1,886	$2,999

Source: Ownwell