Chapin, Morgan County, Illinois Property Taxes

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

Median CHAPIN, IL effective property tax rate: 2.30%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median CHAPIN, IL home value: $47,775
Median annual CHAPIN, IL tax bill: $1,117, $1,283 lower than the national median property tax bill of $2,400.

How are property taxes in Morgan calculated?

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

Last Updated March 1, 2025

Chapin, Morgan County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.3%

Estimate Property Tax Bill

$1,099

$1,020

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

Property Tax Rates Across Chapin, Morgan 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. This calculation results in the property tax rate. While votes and laws are involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Chapin in Morgan County, Illinois, exemplifies how property tax rates can differ even within a single state. The effective property tax rate in Chapin is 2.30%, which is notably higher than the national median of 1.02%. This rate is also higher than the national median property tax bill of $2400. Such differences highlight the importance of understanding local tax structures, as they can significantly impact property owners’ expenses.

By comparing Chapin’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S., property owners can gain insight into how their tax obligations measure up. This knowledge is crucial for homeowners looking to manage their expenses and explore potential savings through tax appeals or exemptions.

Property Tax Rates Across Chapin, Morgan County, Illinois

Source: Ownwell

1.87%

2.52%

3.18%

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 Chapin Taxx Rate

2.30%

Median Effective Morgan County Taxx Rate

3.18%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Chapin, Morgan County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62628	2.00%	2.26%	2.30%	2.56%	2.56%

Source: Ownwell

Property Tax Assessment Values Across Chapin, Morgan County, Illinois

When examining property taxes in Chapin, 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 Morgan 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 Morgan 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 Chapin.

For example, the median home price in Chapin is $47,775, with tax bills ranging significantly across the county. Zip code 62628 has the highest median home price at $47,775.

Property Tax Assessment Values Across Chapin, Morgan County, Illinois

Source: Ownwell

$38,760

$55,440

$72,120

Median Chapin Market Value

$47,775

Median Morgan County Market Value

$54,570

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Chapin, Morgan County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62628	$9,561	$21,248	$47,775	$68,318	$97,077

Source: Ownwell

Property Tax Bills Across Chapin, Morgan County, Illinois

In Chapin, Illinois, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. With a median home price of $47,775, local tax authorities apply a specific rate to determine the annual tax bill. Factors such as the property’s location, improvements, and local levies influence the final amount. In Chapin, the median property tax bill stands at $1,117, which is below the national median of $2,400, offering a relatively affordable rate of homeownership. However, homeowners still face varying tax bills, with the 25th percentile at $811 and the 90th percentile reaching $2,330. These differences highlight the potential savings available through careful management. Ownwell can assist homeowners by reviewing their assessed values and identifying opportunities for appeals or exemptions. By leveraging expertise in local tax regulations, Ownwell helps ensure that homeowners pay only their fair share, potentially saving them significant amounts on their property tax bills.

Property Tax Bills Across Chapin, Morgan County, Illinois

Source: Ownwell

$523

$1,215

$1,907

Median Chapin Tax Bill

$1,117

Median Morgan County Tax Bill

$1,473

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Chapin, Morgan County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62628	$228	$811	$1,117	$1,466	$2,330

Source: Ownwell