Marine, Madison County, Illinois Property Taxes

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

Median Marine, IL effective property tax rate: 2.19%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Marine, IL home value: $177,988
Median annual Marine, IL tax bill: $3,940, $1,540 higher than the national median property tax bill of $2,400.

How are property taxes in Madison calculated?

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

Last Updated March 1, 2025

Marine, Madison County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.19%

Estimate Property Tax Bill

$3,898

$3,617

Ownwell’s Marine Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Marine with just two data points. By entering your property's estimated assessed value, our calculator applies Marine’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Madison 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 County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Marine, Madison County, Illinois

Local government entities are responsible for setting tax rates, which can vary significantly within Illinois. Each year, counties like Madison estimate the budget needed to provide essential services and divide this by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in establishing these rates and budgets, this is essentially the annual process.

In Marine, located in Madison County, the effective property tax rate stands at 2.19%. This is notably higher than the national median property tax rate of 1.02%. When comparing Marine's rate to the broader state context, it aligns with Illinois's median property tax rate, which is one of the highest in the nation. This means that homeowners in Marine pay a significant amount compared to the national average. Understanding these tax dynamics can help property owners in Marine and other parts of Illinois make informed decisions about property tax appeals and exemptions, potentially leading to substantial savings.

Property Tax Rates Across Marine, 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 Marine Tax Rate

2.19%

Median Effective Madison County Tax Rate

2.17%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Marine, Madison County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62061	1.76%	2.05%	2.19%	2.38%	2.70%

Source: Ownwell

Property Tax Assessment Values Across Marine, Madison County, Illinois

When examining property taxes in Marine, 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 Madison 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.

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 Marine.

For example, the median home price in Marine is $177,988, with tax bills ranging significantly across the county. Zip code 62061 has the highest median home price at $177,988.

Property Tax Assessment Values Across Marine, Madison County, Illinois

Source: Ownwell

$19,910

$137,778

$255,646

Median Marine Market Value

$177,988

Median Madison County Market Value

$128,259

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Marine, Madison County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62061	$75,286	$115,510	$177,988	$273,724	$365,940

Source: Ownwell

Property Tax Bills Across Marine, Madison County, Illinois

In Marine, Madison County, IL, property tax bills are determined by the assessed value of a home, which is typically a percentage of the property's market value. The local tax rate is then applied to this assessed value. With a median home price of $177,988, homeowners can expect varying tax bills. For instance, homeowners at the 25th percentile pay around $2,353, while those at the 75th percentile face bills up to $5,921. This range highlights the impact of property values and tax rates on homeowners' financial obligations. The highest median tax bill in the area is $3,940, which is significantly above the national median property tax bill of $2,400. This can place a considerable financial burden on homeowners. Ownwell can assist by offering expert property tax appeal services, potentially lowering assessed values and, consequently, tax bills. By navigating the complexities of property tax assessments and exemptions, Ownwell helps homeowners in Marine reduce their financial burden and save on their property taxes.

Property Tax Bills Across Marine, Madison County, Illinois

Source: Ownwell

$614

$2,981

$5,348

Median Marine Tax Bill

$3,940

Median Madison County Tax Bill

$2,705

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Marine, Madison County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62061	$1,321	$2,353	$3,940	$5,921	$7,845

Source: Ownwell