Cerro Gordo, Macon County, Illinois Property Taxes

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

Median Cerro Gordo, IL effective property tax rate: 2.32%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median Cerro Gordo, IL home value: $154,329. Median annual Cerro Gordo, IL tax bill: $3,461, $1,061 higher than the national median property tax bill of $2,400.

How are property taxes in Macon calculated?

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

Last Updated March 1, 2025

Cerro Gordo, Macon County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.32%

Estimate Property Tax Bill

$3,580

$3,323

Ownwell’s Cerro Gordo Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cerro Gordo with just two data points.

By entering your property's estimated assessed value, our calculator applies Cerro Gordo’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 Macon County.

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

Property Tax Rates Across Cerro Gordo, Macon County, Illinois

Local government entities in Illinois set property tax rates, which can vary widely within the state. Each year, counties like Cerro Gordo in Piatt County estimate their required budgets to provide essential services. They then divide this budget by the total assessed value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws influence these rates and budgets, this is essentially how the annual process unfolds. Cerro Gordo’s effective property tax rate is notably higher than both the state and national medians. With a median rate of 2.32%, Cerro Gordo surpasses Illinois' median and the national median of 1.02%. This rate is consistent across the area, indicating a uniform approach to property taxation. This high rate translates into a higher tax bill for property owners, which significantly impacts their annual financial planning. Understanding these rates in comparison to other cities in Illinois and the national average can provide valuable insights for property owners and potential buyers in the region.

Property Tax Rates Across Cerro Gordo, Macon County, Illinois

Source: Ownwell

1.79%

2.60%

3.41%

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 Cerro Gordo Taxx Rate

2.32%

Median Effective Macon County Taxx Rate

2.55%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Cerro Gordo, Macon County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61818	1.78%	2.10%	2.32%	2.46%	2.66%

Source: Ownwell

Property Tax Assessment Values Across Cerro Gordo, Macon County, Illinois

When examining property taxes in Cerro Gordo, 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 Macon 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 Macon 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 Cerro Gordo. For example, the median home price in Cerro Gordo is $154,329, with tax bills ranging significantly across the county. 61818 has the highest median home price at $154,329.

Property Tax Assessment Values Across Cerro Gordo, Macon County, Illinois

Source: Ownwell

$64,096

$166,841

$269,586

Median Cerro Gordo Market Value

$154,329

Median Macon County Market Value

$87,275

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Cerro Gordo, Macon County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61818	$42,514	$123,300	$154,329	$204,320	$283,192

Source: Ownwell

Property Tax Bills Across Cerro Gordo, Macon County, Illinois

In Cerro Gordo, located in Macon County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of the home's market value. Local tax rates, known as millage rates, are then applied to this assessed value to determine the final tax bill. Factors such as local government budgets, school funding needs, and public service requirements influence these rates, impacting homeowners' tax obligations. In Cerro Gordo, the tax bill for the 25th percentile is $2,356, while the 75th percentile reaches $5,095, indicating a range of tax burdens depending on property value and location. Homeowners in this region may find their tax bills significantly higher than the national median of $2,400. Ownwell can assist homeowners by reviewing their property's assessed value, identifying potential inaccuracies, and filing appeals to ensure they are not overpaying. By leveraging expertise in property tax laws and local market conditions, Ownwell helps homeowners potentially reduce their tax bills, offering peace of mind and financial savings.

Property Tax Bills Across Cerro Gordo, Macon County, Illinois

Source: Ownwell

$1,474

$3,645

$5,815

Median Cerro Gordo Tax Bill

$3,461

Median Macon County Tax Bill

$2,091

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Cerro Gordo, Macon County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61818	$1,134	$2,356	$3,461	$5,095	$6,367

Source: Ownwell