Irving, Montgomery County, Illinois Property Taxes

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

Median IRVING, IL effective property tax rate: 2.40%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median IRVING, IL home value: $100,062
Median annual IRVING, IL tax bill: $2,009, $391 lower than the national median property tax bill of $2,400.

How are property taxes in Montgomery calculated?

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

Last Updated March 1, 2025

Irving, Montgomery County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.4%

Estimate Property Tax Bill

$2,401

$2,229

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

Property Tax Rates Across Irving, Montgomery County, Illinois

Local government entities set tax rates, which can vary widely within a state. This is because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Irving’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Property Tax Rates Across Irving, Montgomery County, Illinois

Source: Ownwell

2.05%

2.39%

2.72%

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 Irving Tax Rate

2.40%

Median Effective Montgomery County Tax Rate

2.46%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Irving, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62051	1.23%	1.83%	2.40%	2.59%	2.83%

Source: Ownwell

Property Tax Assessment Values Across Irving, Montgomery County, Illinois

When examining property taxes in Irving, 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 Montgomery 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 Montgomery 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 Irving. For example, the median home price in Irving is $100,062, with tax bills ranging significantly across the county. Zip code 62051 has the highest median home price at $100,062.

Property Tax Assessment Values Across Irving, Montgomery County, Illinois

Source: Ownwell

$80,096

$125,436

$170,775

Median Irving Market Value

$100,062

Median Montgomery County Market Value

$105,765

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Irving, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62051	$30,816	$57,447	$100,062	$158,712	$203,666

Source: Ownwell

Property Tax Bills Across Irving, Montgomery County, Illinois

In Irving, located in Montgomery County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. The median home price in the area is $100,062, and tax bills can vary significantly, with 25% of homeowners paying around $1,160 and 75% paying up to $3,842. A small percentage face even higher bills, with 90% paying $5,171. These figures highlight the variability in property tax bills, influenced by factors such as home value, exemptions, and local tax rates. With the national median property tax rate at 1.02% and a median tax bill of $2,400, Irving's tax burden can be considered moderate. Ownwell assists homeowners by reviewing property assessments, identifying potential errors, and filing appeals to lower tax bills. By leveraging expertise in local tax regulations, Ownwell can help homeowners achieve significant savings on their property taxes.

Property Tax Bills Across Irving, Montgomery County, Illinois

Source: Ownwell

$1,498

$3,096

$4,694

Median Irving Tax Bill

$2,009

Median Montgomery County Tax Bill

$2,523

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Irving, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62051	$543	$1,160	$2,009	$3,842	$5,171

Source: Ownwell