Mercer County Property Taxes
The median property tax rate in Mercer County is 2.47%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $156,489, the typical annual property tax bill in Mercer County reaches $3,661, surpassing the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is generally lower than the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Mercer County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Aledo or another part of Mercer County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mercer County Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Mercer County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mercer County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Mercer County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Mercer County, Illinois
Property taxes in Mercer County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Mercer County is 2.47%, which is significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Mercer County set these rates annually, and they can vary significantly between different areas within the county. Each year, Mercer County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Seaton has one of the higher property tax rates in Illinois at 2.75%, while the city of Rio boasts one of the lowest at 2.24%. Analyzing how Mercer County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mercer County Tax Rate
2.47%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mercer County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aledo | 1.88% | 2.25% | 2.55% | 2.67% | 2.76% |
| Alexis | 2.03% | 2.22% | 2.43% | 2.47% | 2.51% |
| Illinois City | 1.87% | 2.04% | 2.25% | 2.41% | 2.47% |
| Joy | 2.18% | 2.42% | 2.58% | 2.68% | 2.74% |
| Keithsburg | 2.03% | 2.36% | 2.42% | 2.69% | 2.75% |
| Lynn Center | 1.22% | 2.03% | 2.31% | 2.61% | 2.62% |
| Matherville | 1.91% | 2.18% | 2.26% | 2.50% | 2.62% |
| Milan | 1.95% | 2.07% | 2.38% | 2.50% | 2.50% |
| New Boston | 1.92% | 2.23% | 2.48% | 2.66% | 2.66% |
| New Windsor | 1.58% | 2.03% | 2.33% | 2.52% | 2.53% |
| North Henderson | 1.95% | 2.28% | 2.40% | 2.42% | 2.51% |
| Orion | 2.35% | 2.35% | 2.36% | 2.36% | 2.36% |
| Preemption | 2.34% | 2.38% | 2.49% | 2.50% | 2.50% |
| Reynolds | 2.00% | 2.25% | 2.51% | 2.64% | 2.67% |
| Rio | 2.15% | 2.18% | 2.24% | 2.29% | 2.33% |
| Seaton | 2.46% | 2.63% | 2.75% | 2.76% | 2.76% |
| Sherrard | 1.58% | 2.17% | 2.38% | 2.53% | 2.62% |
| Viola | 1.67% | 2.15% | 2.42% | 2.62% | 2.64% |
Source: Ownwell
Property Tax Assessment Values Across Mercer County, Illinois
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Mercer. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Mercer Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Mercer are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For example, Orion has the highest median tax bill at $7,260, while Matherville has the lowest at $1,712. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Mercer County Assessed Value
$156,489
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mercer County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aledo | $38,098 | $84,195 | $154,762 | $263,563 | $381,887 |
| Alexis | $58,712 | $115,222 | $177,704 | $306,503 | $444,498 |
| Illinois City | $126,510 | $151,426 | $176,670 | $264,048 | $352,305 |
| Joy | $43,283 | $121,138 | $180,218 | $284,169 | $426,834 |
| Keithsburg | $14,614 | $60,585 | $116,378 | $188,366 | $278,574 |
| Lynn Center | $14,672 | $83,198 | $161,247 | $220,098 | $305,044 |
| Matherville | $36,994 | $61,575 | $90,765 | $198,897 | $249,387 |
| Milan | $22,778 | $43,230 | $94,305 | $186,859 | $356,925 |
| New Boston | $31,363 | $65,300 | $142,530 | $220,448 | $328,089 |
| New Windsor | $26,733 | $76,704 | $121,815 | $203,526 | $302,741 |
| North Henderson | $66,024 | $107,948 | $193,590 | $310,691 | $377,005 |
| Orion | $303,208 | $305,103 | $308,262 | $311,421 | $313,316 |
| Preemption | $50,469 | $54,990 | $103,635 | $261,441 | $315,295 |
| Reynolds | $78,376 | $129,964 | $213,783 | $294,422 | $396,565 |
| Rio | $70,572 | $114,352 | $187,320 | $260,288 | $304,068 |
| Seaton | $31,335 | $116,406 | $210,810 | $325,658 | $472,221 |
| Sherrard | $38,391 | $82,560 | $156,156 | $244,579 | $312,290 |
| Viola | $40,943 | $81,896 | $148,326 | $225,754 | $275,318 |
Source: Ownwell
Property Tax Bills Across Mercer County, Illinois
In Mercer County, Illinois, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Local tax rates are then applied to this assessed value to determine the final tax bill. Several factors influence the calculation, including the property's location, the local tax rate, and any applicable exemptions. For instance, Mercer County's median home price is $156,489. Property tax bills can vary widely within the county, with the 25th percentile at $1,921 and the 75th percentile reaching $6,076. The highest median tax bill in the county is $7,260 in Orion, while the lowest is $1,712 in Matherville. These variations highlight the significant impact that location and local tax rates have on homeowners. Compared to the national median property tax rate of 0.99%, Mercer County's rates can significantly affect homeowners' financial planning, making it essential for residents to understand how their specific tax bills are determined.
Average Mercer County Tax Bill
$3,661
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Mercer County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aledo | $926 | $1,988 | $3,707 | $6,517 | $9,906 |
| Alexis | $1,260 | $2,580 | $3,969 | $7,158 | $10,836 |
| Illinois City | $2,234 | $2,826 | $3,577 | $6,100 | $8,163 |
| Joy | $1,427 | $3,037 | $4,428 | $7,000 | $10,873 |
| Keithsburg | $453 | $1,457 | $2,779 | $4,730 | $7,234 |
| Lynn Center | $385 | $763 | $3,211 | $4,480 | $7,123 |
| Matherville | $956 | $1,397 | $1,712 | $4,396 | $5,488 |
| Milan | $569 | $944 | $2,084 | $3,865 | $7,796 |
| New Boston | $772 | $1,605 | $3,308 | $5,574 | $8,202 |
| New Windsor | $629 | $1,469 | $2,713 | $4,312 | $6,732 |
| North Henderson | $869 | $2,660 | $4,552 | $7,201 | $8,980 |
| Orion | $7,146 | $7,189 | $7,260 | $7,332 | $7,375 |
| Preemption | $1,250 | $1,309 | $2,582 | $6,348 | $7,169 |
| Reynolds | $1,674 | $2,884 | $4,763 | $7,403 | $9,822 |
| Rio | $1,584 | $2,501 | $4,029 | $5,557 | $6,473 |
| Seaton | $1,036 | $2,922 | $5,808 | $8,606 | $12,168 |
| Sherrard | $715 | $1,690 | $3,143 | $5,622 | $7,250 |
| Viola | $783 | $1,759 | $3,140 | $5,168 | $6,713 |
Source: Ownwell