Maeystown, Monroe County, Illinois Property Taxes

Name: Property Tax Bills Across Maeystown, Monroe County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Maeystown, IL effective property tax rate: 1.90%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Maeystown, IL home value: $141,930
Median annual Maeystown, IL tax bill: $2,547, $147 higher than the national median property tax bill of $2,400.

How are property taxes in Monroe calculated?

Property taxes in Maeystown, 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 Maeystown’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Maeystown, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Maeystown, Monroe County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.9%

Estimate Property Tax Bill

$2,697

$2,502

Ownwell’s Maeystown Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Maeystown with just two data points. By entering your property's estimated assessed value, our calculator applies Maeystown’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 Monroe County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Maeystown, Monroe County, Illinois

Local government entities set property tax rates, which can vary widely within a state. Each county annually estimates its required budget for services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell. In Maeystown, located in Monroe County, Illinois, the effective property tax rate is 1.90%. This rate is higher than the national median property tax rate of 1.02%. However, it is important to note that property tax rates can fluctuate based on local government decisions and economic factors. Comparing Maeystown’s rate to other cities in Illinois and the national median provides insight into how local rates align with broader trends. Understanding these differences can help property owners make informed decisions about appealing their property assessments or seeking exemptions.

Property Tax Rates Across Maeystown, Monroe County, Illinois

Source: Ownwell

1.69%

1.91%

2.13%

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 Maeystown Taxx Rate

1.90%

Median Effective Monroe County Taxx Rate

1.91%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Maeystown, Monroe County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62256	1.65%	1.80%	1.90%	2.10%	2.10%

Source: Ownwell

Property Tax Assessment Values Across Maeystown, Monroe County, Illinois

When examining property taxes in Maeystown, 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 Monroe 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 Monroe 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 Maeystown. For example, the median home price in Maeystown is $141,930, with tax bills ranging significantly across the county. ZIP code 62256 has the highest median home price at $141,930.

Property Tax Assessment Values Across Maeystown, Monroe County, Illinois

Source: Ownwell

$54,540

$147,450

$240,360

Median Maeystown Market Value

$141,930

Median Monroe County Market Value

$218,520

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Maeystown, Monroe County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62256	$68,619	$103,762	$141,930	$199,065	$247,869

Source: Ownwell

Property Tax Bills Across Maeystown, Monroe County, Illinois

In Maeystown, located in Monroe County, IL, property tax bills are determined by the assessed value of a home, which is a fraction of its market value. The local tax rate is then applied to this assessed value to calculate the tax bill. Factors such as local government budgets and school funding needs can influence the tax rate, impacting how much homeowners pay annually. In Maeystown, the tax bill for the 25th percentile is $1,758, while the 75th percentile is $3,679, and the 90th percentile reaches $4,531. The median tax bill is $2,547, slightly above the national median of $2,400, reflecting the local economic conditions and public service demands. Homeowners in Maeystown can benefit from Ownwell's expertise in property tax appeals and exemptions. By analyzing property values and ensuring accurate assessments, Ownwell helps reduce tax liabilities, potentially saving homeowners significant amounts. This assistance is crucial for those looking to manage their expenses and maximize their property's investment value.

Property Tax Bills Across Maeystown, Monroe County, Illinois

Source: Ownwell

$954

$2,691

$4,428

Median Maeystown Tax Bill

$2,547

Median Monroe County Tax Bill

$3,972

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Maeystown, Monroe County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62256	$1,259	$1,758	$2,547	$3,679	$4,531

Source: Ownwell