Virden, Montgomery County, Illinois Property Taxes

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

Median Virden, IL effective property tax rate: 2.58%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median Virden, IL home value: $151,245. Median annual Virden, IL tax bill: $3,898, $1,498 higher than the national median property tax bill of $2,400.

How are property taxes in Montgomery calculated?

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

Last Updated March 1, 2025

Virden, Montgomery County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.58%

Estimate Property Tax Bill

$3,902

$3,621

Ownwell’s Virden Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Virden with just two data points. By entering your property's estimated assessed value, our calculator applies Virden’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 Virden, Montgomery County, Illinois

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide 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 involved in setting tax rates and budgets, this is the annual process.

In Virden, located in Montgomery County, Illinois, property owners experience a significant property tax rate. The effective property tax rate in Virden is markedly higher than both the state and national medians. Illinois, known for its higher property tax rates, sees Virden reflecting that trend. The national median property tax rate is 1.02%, and the median property tax bill is around $2,400. In contrast, Virden's rate is considerably above this national benchmark.

For homeowners in Virden, understanding these rates is crucial, as they can significantly impact overall housing costs. Comparing Virden’s effective property tax rate to other cities in Illinois and the broader U.S. context highlights the importance of being informed and proactive in property tax matters.

Property Tax Rates Across Virden, 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 Virden Taxx Rate

2.58%

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 Virden, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62690	2.22%	2.35%	2.58%	2.83%	3.02%

Source: Ownwell

Property Tax Assessment Values Across Virden, Montgomery County, Illinois

When examining property taxes in Virden, 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 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 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 Virden.

For example, the median home price in Virden is $151,245, with tax bills ranging significantly across the county. The zip code 62690 has the highest median home price at $151,245.

Property Tax Assessment Values Across Virden, Montgomery County, Illinois

Source: Ownwell

$80,096

$125,436

$170,775

Median Virden Market Value

$151,245

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 Virden, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62690	$73,137	$105,498	$151,245	$213,915	$255,044

Source: Ownwell

Property Tax Bills Across Virden, Montgomery County, Illinois

In Virden, Illinois, property tax bills are calculated based on the assessed value of a homeowner's property, which is a percentage of its market value. The local tax rate is then applied to this assessed value. This means that factors such as changes in the housing market and improvements to the property can influence the assessed value, and consequently, the tax bill. In Virden, the median property tax bill is notably higher than the national median, with some homeowners paying between $2,140 and $6,839. This can place a significant financial burden on homeowners, especially when compared to the national median property tax bill of $2,400. Ownwell offers a solution by providing property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell helps homeowners potentially reduce their tax bills. This not only alleviates the financial strain but also ensures that homeowners are not overpaying on their property taxes.

Property Tax Bills Across Virden, Montgomery County, Illinois

Source: Ownwell

$1,498

$3,096

$4,694

Median Virden Tax Bill

$3,898

Median Montgomery County Tax Bill

$2,523

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Virden, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62690	$1,790	$2,140	$3,898	$5,833	$6,839

Source: Ownwell