Grand Chain, Massac County, Illinois Property Taxes
Median GRAND CHAIN, IL effective property tax rate: 2.14%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median GRAND CHAIN, IL home value: $54,185
Median annual GRAND CHAIN, IL tax bill: $1,243, $1,157 lower than the national median property tax bill of $2,400.
How are property taxes in Massac calculated?
Property taxes in GRAND CHAIN, 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 GRAND CHAIN’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in GRAND CHAIN, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Grand Chain, Massac County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.14%
Estimate Property Tax Bill
$1,160
$1,076
Ownwell’s Grand Chain Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Grand Chain with just two data points.
By entering your property's estimated assessed value, our calculator applies Grand Chain’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 Massac County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Grand Chain, Massac County, Illinois
Local government entities set tax rates, which can vary widely within a state. Each county, including Massac, estimates its required budget annually to provide essential services. This budget is divided by the total value of all taxable property within the county, resulting in the property tax rate. Though the process involves votes and laws, this is the basic annual procedure for setting tax rates.
Grand Chain in Massac County, Illinois, has an effective property tax rate of 2.14%, significantly higher than the national median rate of 1.02%. This rate reflects the county's budgetary needs and the total value of taxable properties. Property owners in Grand Chain face a median property tax bill that is likely higher than the national median of $2,400 due to the elevated rate. When compared to other cities in Illinois, Grand Chain's property tax rate is on the higher end, indicative of the county's fiscal requirements. Understanding these rates and their implications can help property owners navigate the complexities of property taxes and identify potential savings through appeals or exemptions.
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 Grand Chain Tax Rate
2.14%
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 Massac County Tax Rate
2.51%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Grand Chain, Massac County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62941 | 1.53% | 1.86% | 2.14% | 2.62% | 3.17% |
Source: Ownwell
Property Tax Assessment Values Across Grand Chain, Massac County, Illinois
When examining property taxes in Grand Chain, 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 Massac 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 Massac 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 Grand Chain. For example, the median home price in Grand Chain is $54,185, with tax bills ranging significantly across the county. Zip code 62941 has the highest median home price at $54,185, matching the median home price.
Property Tax Assessment Values Across Grand Chain, Massac County, Illinois
Source: Ownwell
$4,650
$55,716
$106,781
Median Grand Chain Market Value
$54,185
Median Massac County Market Value
$60,801
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Grand Chain, Massac County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62941 | $9,898 | $22,270 | $54,185 | $82,756 | $104,803 |
Source: Ownwell
Property Tax Bills Across Grand Chain, Massac County, Illinois
In Grand Chain, located in Massac County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The assessed value is typically a percentage of the market value, and the tax rate is applied to this value to determine the tax bill. The median home price in Grand Chain is $54,185, and homeowners can expect a median tax bill of $1,243, which is higher than the national median property tax bill of $2,400. Factors such as local government budgets and school funding needs can influence the tax rate, impacting homeowners significantly.
Ownwell assists homeowners in reducing their property tax bills by offering expert property tax appeal services. By analyzing property assessments, Ownwell identifies opportunities for reassessment and exemption, potentially lowering the tax burden. This service is particularly beneficial for homeowners in Grand Chain, where property taxes can be a financial strain. Partnering with Ownwell can lead to substantial savings and ensure homeowners are not overpaying on their property taxes.
Median Grand Chain Tax Bill
$1,243
Median Massac County Tax Bill
$1,443
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Grand Chain, Massac County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62941 | $258 | $752 | $1,243 | $1,606 | $2,053 |
Source: Ownwell