Alma, Marion County, Illinois Property Taxes
Median Alma, Illinois effective property tax rate: 2.04%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Alma, Illinois home value: $104,055
Median annual Alma, Illinois tax bill: $1,856, $544 lower than the national median property tax bill of $2,400.
How are property taxes in Marion calculated?
Property taxes in Alma, Illinois 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 Alma’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Alma, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Alma, Marion County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.04%
Estimate Property Tax Bill
$2,123
$1,970
Property Tax Rates Across Alma, Marion County, Illinois
Local government entities in Illinois set tax rates, leading to significant variations across the state. Each county annually estimates its budgetary needs for services and divides this by the total assessed value of all taxable properties within its jurisdiction, resulting in the property tax rate. While votes and legal frameworks play a role in determining tax rates and budgets, this is the core of the process.
In Alma, located in Marion County, the effective property tax rate is a key point of comparison with other cities in Illinois and the national median. Illinois has a median property tax rate of 2.04%, which is notably higher than the national median of 1.02%. This indicates a heavier tax burden on property owners in Illinois compared to the national average. For residents of Alma, understanding this context can be crucial in making informed decisions about property investments and financial planning.
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 Alma Taxx Rate
2.04%
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 Marion County Taxx Rate
2.03%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
0.99%
Property Tax Rates Across Alma, Marion County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62807 | 0.71% | 1.38% | 2.04% | 2.23% | 2.43% |
Source: Ownwell
Property Tax Assessment Values Across Alma, Marion County, Illinois
When examining property taxes in Alma, 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 Marion 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 Marion 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 Alma.
For example, the median home price in Alma is $104,055, with tax bills ranging significantly across the county. Zip code 62807 has the highest median home price at $104,055.
Property Tax Assessment Values Across Alma, Marion County, Illinois
Source: Ownwell
$24,930
$79,446
$133,962
Median Alma Market Value
$104,055
Median Marion County Market Value
$53,770
Median Illinois Market Value
$194,700
Median United States Market Value
$244,900
Property Tax Assessment Values Across Alma, Marion County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62807 | $17,025 | $37,898 | $104,055 | $164,194 | $219,546 |
Source: Ownwell
Property Tax Bills Across Alma, Marion County, Illinois
In Alma, located in Marion County, 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 this assessed value, resulting in the annual tax bill. The median home price in Alma is $104,055, which influences the assessed value and subsequently the tax bill. Property tax bills can vary significantly, with the 25th percentile at $739 and the 75th percentile reaching $3,330, reflecting differences in home values and local tax rates.
Homeowners in Alma may find their property tax bills burdensome, especially when compared to the national median property tax bill of $2,400. This is where Ownwell comes in. By providing property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax bills. Our expertise in identifying discrepancies in assessed values and navigating the appeals process can lead to significant savings, ensuring homeowners are not overpaying.
Median Alma Tax Bill
$1,856
Median Marion County Tax Bill
$1,004
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Alma, Marion County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62807 | $207 | $739 | $1,856 | $3,330 | $4,713 |
Source: Ownwell