Odin, Marion County, Illinois Property Taxes
Median ODIN, IL effective property tax rate: 1.99%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median ODIN, IL home value: $38,655
Median annual ODIN, IL tax bill: $464, $1,936 lower than the national median property tax bill of $2,400.
How are property taxes in Marion County calculated?
Property taxes in ODIN, 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 ODIN’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in ODIN, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Odin, Marion County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.99%
Estimate Property Tax Bill
$769
$714
Property Tax Rates Across Odin, Marion County, Illinois
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation is due to each county estimating its required budget to provide essential services and dividing that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in determining tax rates and budgets, this is the core of the annual process.
In ODIN, located in Marion County, Illinois, the effective property tax rate is an interesting figure to examine. When compared to other cities in Illinois and the national median, ODIN's property tax rate is notably different. Illinois has a median property tax rate of 1.99%, which stands out against the national median of 1.02%. This comparison highlights the unique position of ODIN within the broader context of property taxation. Understanding these differences can provide valuable insights for property owners and potential buyers in the area, making it essential to stay informed about local property tax trends.
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 Odin Tax Rate
1.99%
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 Tax Rate
2.03%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Odin, Marion County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62870 | 0.47% | 0.96% | 1.99% | 2.35% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Odin, Marion County, Illinois
When examining property taxes in ODIN, 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 ODIN. For example, the median home price in ODIN is $38,655, with tax bills ranging significantly across the county. Zip code 62870 has the highest median home price at $38,655.
Property Tax Assessment Values Across Odin, Marion County, Illinois
Source: Ownwell
$24,930
$79,446
$133,962
Median Odin Market Value
$38,655
Median Marion County Market Value
$53,770
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Odin, Marion County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62870 | $3,510 | $11,130 | $38,655 | $119,090 | $181,700 |
Source: Ownwell
Property Tax Bills Across Odin, Marion County, Illinois
In ODIN, located in Marion County, IL, property taxes are determined by assessing the property's value and applying the local tax rate. The median home price in this city is $38,655, which is significantly below the national median. The tax bill can vary considerably, with amounts ranging from the 25th percentile at $116 to the 90th percentile at $3,728. This range highlights how factors such as property location and assessed value can influence what homeowners owe. With the national median property tax rate at 1.02%, ODIN's property taxes can be a burden for some, even though the local rates may differ.
Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. By leveraging expertise in local tax laws and assessment practices, Ownwell helps ensure that homeowners are not overpaying on their property taxes. This can lead to substantial savings, especially for those in higher tax brackets. Homeowners can benefit from reduced tax bills and increased financial peace of mind with Ownwell's support.
Median Odin Tax Bill
$464
Median Marion County Tax Bill
$1,004
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Odin, Marion County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62870 | $42 | $116 | $464 | $2,134 | $3,728 |
Source: Ownwell