Raymond, Montgomery County, Illinois Property Taxes

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

Median Raymond, IL effective property tax rate: 2.56%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Raymond, IL home value: $163,140
Median annual Raymond, IL tax bill: $3,955, $1,555 higher than the national median property tax bill of $2,400.

How are property taxes in Montgomery calculated?

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

Last Updated March 1, 2025

Raymond, Montgomery County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.56%

Estimate Property Tax Bill

$4,176

$3,876

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

Property Tax Rates Across Raymond, Montgomery County, Illinois

Local government entities are responsible for setting tax rates, which can vary significantly within a state. This is because each county, such as Montgomery County in Illinois, determines its required budget for services annually and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. Although there are votes and laws involved in setting tax rates and budgets, this is essentially the annual process. In Raymond, a city in Montgomery County, the effective property tax rate reflects this process. When compared to other cities in Illinois and the U.S. median property tax rates, it's important to note that Illinois often has higher rates than the national median of 1.02%. This can lead to a significant difference in the property tax bills residents receive. Understanding these differences is crucial for property owners who may benefit from property tax appeal and exemption services.

Property Tax Rates Across Raymond, 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 Raymond Taxx Rate

2.56%

Median Effective Montgomery County Taxx Rate

2.46%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Raymond, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62560	1.96%	2.38%	2.56%	2.76%	2.81%

Source: Ownwell

Property Tax Assessment Values Across Raymond, Montgomery County, Illinois

When examining property taxes in Raymond, 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. Assessment notices: In Montgomery 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 Raymond. For example, the median home price in Raymond is $163,140, with tax bills ranging significantly across the county. 62560 has the highest median home price at $163,140.

Property Tax Assessment Values Across Raymond, Montgomery County, Illinois

Source: Ownwell

$80,096

$125,436

$170,775

Median Raymond Market Value

$163,140

Median Montgomery County Market Value

$105,765

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Raymond, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62560	$38,214	$76,770	$163,140	$215,475	$274,352

Source: Ownwell

Property Tax Bills Across Raymond, Montgomery County, Illinois

In Raymond, Illinois, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. The property tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as local government budgets, school funding needs, and public services contribute to the overall tax rate. Homeowners in Raymond face a median property tax bill of $3,955, higher than the national median of $2,400. With tax bills ranging from $2,257 at the 25th percentile to $7,635 at the 90th percentile, property taxes can significantly impact a homeowner's budget. Ownwell offers services to help homeowners in Raymond potentially reduce their property tax bills. By analyzing property assessments and identifying discrepancies, Ownwell can assist in appealing unfair assessments, potentially lowering the tax burden. This can result in substantial savings for homeowners, making property ownership more affordable.

Property Tax Bills Across Raymond, Montgomery County, Illinois

Source: Ownwell

$1,498

$3,096

$4,694

Median Raymond Tax Bill

$3,955

Median Montgomery County Tax Bill

$2,523

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Raymond, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62560	$1,385	$2,257	$3,955	$5,779	$7,635

Source: Ownwell