Lovington, Macon County, Illinois Property Taxes

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

Median Lovington, IL effective property tax rate: 2.14%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Lovington, IL home value: $184,890
Median annual Lovington, IL tax bill: $4,318, $1,918 higher than the national median property tax bill of $2,400.

How are property taxes in Macon calculated?

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

Last Updated March 1, 2025

Lovington, Macon County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.14%

Estimate Property Tax Bill

$3,957

$3,672

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

Local government entities are responsible for setting tax rates, which can differ significantly within a state. The process involves each county estimating its required budget to provide essential services and dividing that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Though votes and laws play a role in setting these rates and budgets, this is the core of the annual process.

In Lovington, located in Macon County, Illinois, the effective property tax rate stands out when compared to other cities in the state. With Illinois having a median property tax rate of 2.14%, Lovington aligns with this rate, which is notably higher than the national median of 1.02%. This reflects the state's reliance on property taxes to fund local services. For homeowners in Lovington, understanding this rate is crucial as it directly impacts their property tax bills, which can be significantly higher than the national median bill of $2,400. By staying informed and exploring potential property tax appeals or exemptions, residents can manage their financial responsibilities more effectively.

Property Tax Rates Across Lovington, 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 Lovington Taxx Rate

2.14%

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 Lovington, Macon County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61937	1.59%	1.88%	2.14%	2.33%	2.36%

Source: Ownwell

Property Tax Assessment Values Across Lovington, Macon County, Illinois

When examining property taxes in Lovington, 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 Macon County assessment 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 Macon County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 Lovington. For example, the median home price in Lovington is $184,890, with tax bills ranging significantly across the county. 61937 has the highest median home price at $184,890.

Property Tax Assessment Values Across Lovington, Macon County, Illinois

Source: Ownwell

$64,096

$166,841

$269,586

Median Lovington Market Value

$184,890

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 Lovington, Macon County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61937	$100,006	$126,569	$184,890	$228,149	$312,822

Source: Ownwell

Property Tax Bills Across Lovington, Macon County, Illinois

In Lovington, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to the assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's location, the local government's budget needs, and any applicable exemptions. Homeowners in Lovington experience a range of tax bills, with the 25th percentile at $2,176 and the 75th percentile at $4,852. The highest median tax bill in Macon County is $4,318, notably higher than the national median of $2,400. This can significantly impact homeowners, as higher property taxes can strain budgets and affect the affordability of homeownership. Ownwell offers valuable assistance by identifying potential savings through property tax appeals and exemptions. By leveraging our expertise, homeowners can potentially reduce their tax burden, ensuring they only pay their fair share and enhancing their financial well-being.

Property Tax Bills Across Lovington, Macon County, Illinois

Source: Ownwell

$1,474

$3,645

$5,815

Median Lovington Tax Bill

$4,318

Median Macon County Tax Bill

$2,091

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Lovington, Macon County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61937	$1,759	$2,176	$4,318	$4,852	$7,279

Source: Ownwell