Cottage Hills, Madison County, Illinois Property Taxes

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

Median Cottage Hills, IL effective property tax rate: 1.84%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Cottage Hills, IL home value: $60,961
Median annual Cottage Hills, IL tax bill: $1,071, $1,329 lower than the national median property tax bill of $2,400.

How are property taxes in Madison County calculated?

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

Last Updated March 1, 2025

Cottage Hills, Madison County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.84%

Estimate Property Tax Bill

$1,122

$1,041

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

Property Tax Rates Across Cottage Hills, Madison County, Illinois

Local government entities determine tax rates, which can differ significantly within a state. This variation occurs because each county annually estimates its budget needs for services and divides that by the total value of all taxable property in its area. This calculation determines the property tax rate. While the process involves votes and legislation, this is essentially how it works each year.

In Cottage Hills, located in Madison County, the effective property tax rate reflects the county's budgetary requirements and property values. The rate in Cottage Hills stands at 1.84%, which is notably higher than the national median property tax rate of 1.02%. This higher rate can lead to a more substantial tax bill compared to the national median of $2,400. When comparing Cottage Hills to other cities in Illinois, it shares the same rate as the highest and lowest median tax rates within its ZIP code, highlighting the consistency within the area. Understanding these rates can help property owners make informed decisions about property tax appeals and exemptions.

Property Tax Rates Across Cottage Hills, Madison County, Illinois

Source: Ownwell

1.66%

3.31%

4.95%

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 Cottage Hills Taxx Rate

1.84%

Median Effective Madison County Taxx Rate

2.17%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Cottage Hills, Madison County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62018	0.97%	1.44%	1.84%	2.28%	2.28%

Source: Ownwell

Property Tax Assessment Values Across Cottage Hills, Madison County, Illinois

When examining property taxes in Cottage Hills, 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 Madison 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 Madison 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 Cottage Hills.

For example, the median home price in Cottage Hills is $60,961, with tax bills ranging significantly across the county. The 62018 zip code has the highest median home price at $60,961.

Property Tax Assessment Values Across Cottage Hills, Madison County, Illinois

Source: Ownwell

$19,910

$137,778

$255,646

Median Cottage Hills Market Value

$60,961

Median Madison County Market Value

$128,259

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Cottage Hills, Madison County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62018	$29,280	$42,988	$60,961	$86,036	$107,132

Source: Ownwell

Property Tax Bills Across Cottage Hills, Madison County, Illinois

In Cottage Hills, located in Madison County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this region face tax bills that can vary significantly, with the 25th percentile at $663 and the 75th percentile reaching $1,537. The median tax bill stands at $1,071, which is below the national median of $2,400. This disparity is due to the local tax rate and the assessed property values. Factors influencing the tax bill include the property's market value, the local tax rate, and any applicable exemptions. High property taxes can impact homeowners by increasing the cost of owning a home, potentially affecting affordability. Ownwell offers a solution by providing property tax appeal and exemption services. By analyzing your property’s assessed value and identifying any discrepancies, Ownwell can help reduce your tax burden, ensuring you only pay what is fair and potentially saving you a significant amount on your property tax bill.

Property Tax Bills Across Cottage Hills, Madison County, Illinois

Source: Ownwell

$614

$2,981

$5,348

Median Cottage Hills Tax Bill

$1,071

Median Madison County Tax Bill

$2,705

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Cottage Hills, Madison County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62018	$314	$663	$1,071	$1,537	$2,121

Source: Ownwell