Mt Olive, Macoupin County, Illinois Property Taxes

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

Median MT OLIVE, IL effective property tax rate: 2.49%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median MT OLIVE, IL home value: $41,703. Median annual MT OLIVE, IL tax bill: $1,029, $1,371 lower than the national median property tax bill of $2,400.

How are property taxes in Macoupin calculated?

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

Last Updated March 1, 2025

Mt Olive, Macoupin County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.49%

Estimate Property Tax Bill

$1,038

$964

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

By entering your property's estimated assessed value, our calculator applies MT OLIVE’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 Mt Olive, Macoupin County, Illinois

Local government entities determine tax rates, leading to significant variations within a state. Each county calculates its required budget annually to provide essential services and divides it by the total assessed value of all taxable properties in its jurisdiction. This results in the property tax rate. Although votes and legislation play roles in setting these rates and budgets, this is the core process followed each year. In MT OLIVE, located in Macoupin County, the effective property tax rate is a notable 2.49%. This rate is significantly higher than both the Illinois median and the national median property tax rate of 1.02%. As a result, homeowners in MT OLIVE face property tax bills that are more than double the national median of $2,400. This high tax burden can be a crucial factor for homeowners to consider, especially when compared to other regions in Illinois and across the U.S. Understanding these rates and their implications is vital for property owners looking to manage their financial commitments effectively.

Property Tax Rates Across Mt Olive, 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 Mt Olive Taxx Rate

2.49%

Median Effective Macoupin County Taxx Rate

1.93%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Mt Olive, Macoupin County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62069	2.11%	2.36%	2.49%	2.79%	2.79%

Source: Ownwell

Property Tax Assessment Values Across Mt Olive, Macoupin County, Illinois

When examining property taxes in MT OLIVE, 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 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.

Assessment notices: 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 MT OLIVE. For example, the median home price in MT OLIVE is $41,703, with tax bills ranging significantly across the county. Zip code 62069 has the highest median home price at $41,703.

Property Tax Assessment Values Across Mt Olive, Macoupin County, Illinois

Source: Ownwell

$25,616

$109,649

$193,682

Median Mt Olive Market Value

$41,703

Median Macoupin County Market Value

$80,204

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Mt Olive, Macoupin County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62069	$3,672	$12,554	$41,703	$79,652	$93,445

Source: Ownwell

Property Tax Bills Across Mt Olive, Macoupin County, Illinois

In MT OLIVE, property tax bills are calculated based on the assessed value of a home, which is derived from the market value of the property. The median home price in Macoupin County is $41,703, and property tax rates are applied to this assessed value to determine the tax bill. The tax bill varies significantly among homeowners, with the 25th percentile at $364 and the 75th percentile reaching $2,128. The highest median tax bill recorded in the area is $1,029. Compared to the national median property tax rate of 1.02% and a median tax bill of $2,400, MT OLIVE residents may experience lower tax burdens, but the impact can still be substantial for some homeowners. Ownwell offers property tax appeal and exemption services to help homeowners reduce their tax bills. By analyzing property assessments and market conditions, Ownwell identifies opportunities for savings, potentially lowering tax liabilities and providing financial relief to homeowners. This service ensures that residents only pay their fair share, maximizing their savings and minimizing stress.

Property Tax Bills Across Mt Olive, Macoupin County, Illinois

Source: Ownwell

$378

$1,651

$2,923

Median Mt Olive Tax Bill

$1,029

Median Macoupin County Tax Bill

$1,490

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Mt Olive, Macoupin County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62069	$185	$364	$1,029	$2,128	$2,243

Source: Ownwell