Monroe County Property Taxes
The median property tax rate in Monroe County is 1.91%, which is significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Monroe County, the typical annual property tax bill reaches $3,972, which exceeds the national median of $2,690. Property taxes in Monroe County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Monroe 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 Waterloo or another part of Monroe County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Monroe County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.91%
Estimate Property Tax Bill
$4,174
$3,873
Ownwell’s Monroe County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Monroe County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Monroe 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's 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 Monroe County, Illinois
Property taxes in Monroe County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Monroe County is 1.91%, which is significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Monroe County set these rates annually, and they can vary significantly between different areas within the county. Each year, Monroe 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 New Athens has one of the higher property tax rates in Illinois at 2.13%, while the city of Red Bud boasts one of the lowest at 1.69%. Analyzing how Monroe County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Monroe County Tax Rate
1.91%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monroe County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Columbia | 1.57% | 1.81% | 1.90% | 1.96% | 2.05% |
| East Carondelet | 1.79% | 1.81% | 1.84% | 1.88% | 1.90% |
| Fults | 1.46% | 1.73% | 1.90% | 2.00% | 2.11% |
| Hecker | 1.08% | 1.65% | 1.83% | 1.93% | 2.11% |
| Maeystown | 1.65% | 1.80% | 1.90% | 2.10% | 2.10% |
| New Athens | 1.62% | 1.97% | 2.13% | 2.22% | 2.39% |
| Prairie Du Rocher | 1.39% | 1.63% | 1.81% | 2.01% | 2.01% |
| Red Bud | 1.30% | 1.57% | 1.69% | 1.80% | 1.96% |
| Renault | 0.93% | 1.60% | 2.01% | 2.01% | 2.03% |
| Valmeyer | 1.46% | 1.81% | 1.91% | 2.02% | 2.35% |
| Waterloo | 1.53% | 1.82% | 1.93% | 1.99% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Monroe County, Illinois
In Monroe County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. 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 Monroe County 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 Monroe County 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 instance, Columbia has the highest median tax bill at $4,428, while Renault has the lowest at $954. Being aware of these valuation processes in Monroe County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Monroe County Assessed Value
$218,520
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Monroe County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Columbia | $139,326 | $176,880 | $240,360 | $325,320 | $417,324 |
| East Carondelet | $165,729 | $169,522 | $175,845 | $182,168 | $185,961 |
| Fults | $66,975 | $113,850 | $179,895 | $241,852 | $300,450 |
| Hecker | $72,144 | $113,992 | $141,465 | $173,648 | $196,848 |
| Maeystown | $68,619 | $103,762 | $141,930 | $199,065 | $247,869 |
| New Athens | $119,478 | $135,480 | $176,820 | $211,020 | $265,451 |
| Prairie Du Rocher | $25,365 | $72,300 | $133,857 | $181,563 | $216,071 |
| Red Bud | $78,849 | $132,172 | $200,730 | $274,395 | $352,911 |
| Renault | $23,829 | $33,608 | $54,540 | $86,746 | $102,819 |
| Valmeyer | $65,415 | $119,932 | $157,800 | $181,972 | $213,444 |
| Waterloo | $122,022 | $163,965 | $224,520 | $288,105 | $360,626 |
Source: Ownwell
Property Tax Bills Across Monroe County, Illinois
In Monroe County, Illinois, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The county's tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including the property's location, its market value, and any applicable exemptions. For example, the median home price in Monroe County is $218,520, leading to varying tax bills across different percentiles. Homeowners in the 25th percentile pay around $2,783, while those in the 75th percentile face bills closer to $5,516. At the 90th percentile, tax bills can reach up to $7,251. These figures highlight the significant impact property taxes can have on homeowners' finances. Comparatively, Monroe County's highest median tax bill is $4,428 in Columbia, whereas the lowest is $954 in Renault. This variation underscores the importance of understanding local tax rates and assessed values when budgeting for homeownership.
Average Monroe County Tax Bill
$3,972
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Monroe County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Columbia | $2,207 | $3,101 | $4,428 | $6,191 | $8,084 |
| East Carondelet | $3,145 | $3,178 | $3,233 | $3,289 | $3,322 |
| Fults | $903 | $1,890 | $3,224 | $4,647 | $5,794 |
| Hecker | $762 | $1,836 | $2,446 | $3,124 | $3,538 |
| Maeystown | $1,259 | $1,758 | $2,547 | $3,679 | $4,531 |
| New Athens | $2,248 | $2,611 | $3,630 | $4,586 | $6,146 |
| Prairie Du Rocher | $357 | $1,330 | $2,070 | $3,134 | $4,026 |
| Red Bud | $1,042 | $1,998 | $3,306 | $4,788 | $6,124 |
| Renault | $252 | $566 | $954 | $1,430 | $2,007 |
| Valmeyer | $959 | $2,095 | $2,960 | $3,513 | $4,164 |
| Waterloo | $1,892 | $2,875 | $4,123 | $5,489 | $6,970 |
Source: Ownwell