Gillespie, Macoupin County, Illinois Property Taxes

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

Median Gillespie, IL effective property tax rate: 1.82%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Gillespie, IL home value: $67,592
Median annual Gillespie, IL tax bill: $1,133, $1,267 lower than the national median property tax bill of $2,400.

How are property taxes in Macoupin calculated?

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

Last Updated March 1, 2025

Gillespie, Macoupin County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.82%

Estimate Property Tax Bill

$1,230

$1,142

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

Property Tax Rates Across Gillespie, Macoupin County, Illinois

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Gillespie in Macoupin County, Illinois, presents a unique property tax landscape. The effective property tax rate here stands at 1.82%, which is significantly higher than the national median of 1.02%. This rate reflects the county's budgetary needs and the total assessed property value. When compared to other cities in Illinois, Gillespie's rate is on the higher side, indicating a robust local government service provision. While the national median property tax bill is $2,400, Gillespie's higher rate suggests that residents might experience a comparatively higher tax bill, though the actual amount would depend on property values. Understanding these dynamics helps property owners in Gillespie make informed decisions about appeals and exemptions.

Property Tax Rates Across Gillespie, Macoupin County, Illinois

Source: Ownwell

1.27%

1.88%

2.49%

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 Gillespie Tax Rate

1.82%

Median Effective Macoupin County Tax Rate

1.93%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Gillespie, Macoupin County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62033	0.96%	1.47%	1.82%	2.06%	2.37%

Source: Ownwell

Property Tax Assessment Values Across Gillespie, Macoupin County, Illinois

When examining property taxes in Gillespie, 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 Macoupin 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. This assessed value is then used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Macoupin 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 Gillespie. For example, the median home price in Gillespie is $67,592, with tax bills ranging significantly across the county. Zip code 62033 has the highest median home price at $67,592.

Property Tax Assessment Values Across Gillespie, Macoupin County, Illinois

Source: Ownwell

$25,616

$109,649

$193,682

Median Gillespie Market Value

$67,592

Median Macoupin County Market Value

$80,204

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Gillespie, Macoupin County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62033	$26,401	$47,532	$67,592	$97,238	$151,718

Source: Ownwell

Property Tax Bills Across Gillespie, Macoupin County, Illinois

In Gillespie, located in Macoupin County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The city's median home price is $67,592. While the national median property tax rate is 1.02%, Gillespie homeowners face a median tax bill of $1,133, which is notably below the national median of $2,400. Factors influencing the tax bill include local tax rates, property assessments, and any applicable exemptions. Homeowners with tax bills in the 25th percentile pay around $675, while those in the 75th percentile pay about $1,793, and the 90th percentile reaches $2,827. These variations highlight the importance of accurate property assessments and potential savings through appeals. Ownwell offers expert property tax appeal services, helping homeowners ensure their assessments are fair and potentially lowering their tax bills. By reviewing assessments and identifying discrepancies, Ownwell can help homeowners in Gillespie save significantly on their property taxes.

Property Tax Bills Across Gillespie, Macoupin County, Illinois

Source: Ownwell

$378

$1,651

$2,923

Median Gillespie Tax Bill

$1,133

Median Macoupin County Tax Bill

$1,490

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Gillespie, Macoupin County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62033	$324	$675	$1,133	$1,793	$2,827

Source: Ownwell