Waggoner, Montgomery County, Illinois Property Taxes
Median Waggoner, IL effective property tax rate: 2.49%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Waggoner, IL home value: $125,265
Median annual Waggoner, IL tax bill: $3,123, $723 higher than the national median property tax bill of $2,400.
How are property taxes in Montgomery calculated?
Property taxes in Waggoner, 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 Waggoner’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Waggoner, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Waggoner, Montgomery County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.49%
Estimate Property Tax Bill
$3,119
$2,894
Property Tax Rates Across Waggoner, Montgomery County, Illinois
Local government entities are responsible for setting tax rates, which can vary widely within a state. This variation is primarily due to each county's annual estimation of its required budget to provide essential services. The county then divides this budget by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the core process followed each year.
When comparing Waggoner’s effective property tax rate to other cities in Illinois and the national median, it's evident that property tax rates can differ significantly. Waggoner, located in Montgomery County, has a median property tax rate of 2.49%, which is notably higher than the national median of 1.02%. This higher rate reflects the specific budgetary needs and property values within the area. Understanding these differences can help property owners better anticipate their annual tax obligations and explore potential savings through property tax appeal and exemption services.
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 Waggoner Tax Rate
2.49%
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 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 Waggoner, Montgomery County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62572 | 2.22% | 2.34% | 2.49% | 2.83% | 2.90% |
Source: Ownwell
Property Tax Assessment Values Across Waggoner, Montgomery County, Illinois
When examining property taxes in Waggoner, 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 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 Waggoner. For example, the median home price in Waggoner is $125,265, with tax bills ranging significantly across the county. The zip code 62572 has the highest median home price at $125,265.
Property Tax Assessment Values Across Waggoner, Montgomery County, Illinois
Source: Ownwell
$80,096
$125,436
$170,775
Median Waggoner Market Value
$125,265
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 Waggoner, Montgomery County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62572 | $29,347 | $94,872 | $125,265 | $198,456 | $237,258 |
Source: Ownwell
Property Tax Bills Across Waggoner, Montgomery County, Illinois
In Waggoner, Illinois, located in Montgomery County, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this region is $125,265, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $2,428, while the 90th percentile reaches $6,175. These figures highlight the impact of property taxes on homeowners, with some paying considerably more than the national median property tax bill of $2,400. Several factors influence these variations, including the local tax rate and any applicable exemptions or deductions.
Ownwell assists homeowners in Waggoner by providing expert property tax appeal and exemption services. By identifying potential discrepancies in assessments or overlooked exemptions, Ownwell helps clients reduce their tax burden. This not only ensures fair taxation but also maximizes savings for homeowners, allowing them to invest in other priorities. With Ownwell's guidance, Waggoner residents can navigate the complexities of property tax regulations and secure potential reductions in their tax bills.
Median Waggoner Tax Bill
$3,123
Median Montgomery County Tax Bill
$2,523
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Waggoner, Montgomery County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62572 | $1,494 | $2,428 | $3,123 | $5,339 | $6,175 |
Source: Ownwell