Valmeyer, Monroe County, Illinois Property Taxes
Median Valmeyer, IL effective property tax rate: 1.91%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Valmeyer, IL home value: $157,800
Median annual Valmeyer, IL tax bill: $2,960, $560 higher than the national median property tax bill of $2,400.
How are property taxes in Monroe calculated?
Property taxes in Valmeyer, 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 Valmeyer’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Valmeyer, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Valmeyer, Monroe County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.91%
Estimate Property Tax Bill
$3,014
$2,797
Property Tax Rates Across Valmeyer, Monroe County, Illinois
Local government entities set tax rates, which can vary widely within a state. This variance occurs because each county annually estimates its required budget for services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws are part of the process, this is the annual approach in a nutshell.
In Valmeyer, located in Monroe County, Illinois, the effective property tax rate is notably higher than the national median of 1.02%. With a median property tax rate of 1.91%, Valmeyer stands out as having one of the highest rates in the state, as well as the country. This rate can significantly impact homeowners, as it determines the amount paid in property taxes relative to the assessed value of their property.
Comparing Valmeyer’s rate to other cities in Illinois and the national median offers insight into the local tax landscape, highlighting the importance of understanding property tax obligations. Homeowners in Valmeyer may benefit from exploring property tax appeal and exemption services to potentially reduce their tax burden.
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 Valmeyer Tax Rate
1.91%
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 Monroe County Tax Rate
1.91%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Valmeyer, Monroe County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62295 | 1.46% | 1.81% | 1.91% | 2.02% | 2.35% |
Source: Ownwell
Property Tax Assessment Values Across Valmeyer, Monroe County, Illinois
When examining property taxes in Valmeyer, 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 May. 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 Valmeyer. For example, the median home price in Valmeyer is $157,800, with tax bills ranging significantly across the county. Zip code 62295 has the highest median home price at $157,800.
Property Tax Assessment Values Across Valmeyer, Monroe County, Illinois
Source: Ownwell
$54,540
$147,450
$240,360
Median Valmeyer Market Value
$157,800
Median Monroe County Market Value
$218,520
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Valmeyer, Monroe County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62295 | $65,415 | $119,932 | $157,800 | $181,972 | $213,444 |
Source: Ownwell
Property Tax Bills Across Valmeyer, Monroe County, Illinois
In Valmeyer, Monroe County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in this area is approximately $157,800. Tax rates are applied to this assessed value to determine the tax bill. The median property tax bill in Valmeyer is $2,960, which is higher than the national median property tax bill of $2,400. Homeowners in Valmeyer may find themselves paying tax bills that range from the 25th percentile at $2,095 to the 90th percentile at $4,164. These figures indicate a significant variation in tax bills depending on the specific value assessments and applicable tax rates.
Ownwell assists homeowners by offering property tax appeal services that can potentially lower their tax bills. By analyzing property assessments and market conditions, Ownwell identifies opportunities for tax savings, ensuring homeowners are not overpaying. This service can be particularly beneficial in areas like Valmeyer, where tax bills can exceed the national average, providing a welcome financial relief to homeowners.
Median Valmeyer Tax Bill
$2,960
Median Monroe County Tax Bill
$3,972
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Valmeyer, Monroe County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62295 | $959 | $2,095 | $2,960 | $3,513 | $4,164 |
Source: Ownwell