Murrayville, Morgan County, Illinois Property Taxes
Median Murrayville, IL effective property tax rate: 2.21%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Murrayville, IL home value: $63,930
Median annual Murrayville, IL tax bill: $1,157, $1,243 lower than the national median property tax bill of $2,400.
How are property taxes in Morgan County calculated?
Property taxes in Murrayville, 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 Murrayville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Murrayville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Murrayville, Morgan County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.21%
Estimate Property Tax Bill
$1,413
$1,311
Property Tax Rates Across Murrayville, 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 there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Murrayville’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
Murrayville, located in Morgan County, has an effective property tax rate that stands at 2.21%. This rate is significantly higher than the national median property tax rate of 1.02%. Homeowners in Murrayville experience a property tax bill that reflects this higher rate compared to the national median property tax bill of $2,400. When comparing within Illinois, Murrayville's rate aligns with the highest and lowest median tax rates in the state, both recorded at 2.21%. This consistency highlights the uniformity in property tax assessments within this area, setting it apart from the national landscape where rates can vary dramatically.
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 Murrayville Taxx Rate
2.21%
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 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 Murrayville, Morgan County, Illinois
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
62668 | 1.47% | 1.78% | 2.21% | 2.49% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Murrayville, Morgan County, Illinois
When examining property taxes in Murrayville, 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 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 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 Murrayville.
For example, the median home price in Murrayville is $63,930, with tax bills ranging significantly across the county. Zip code 62668 has the highest median home price at $63,930.
Property Tax Assessment Values Across Murrayville, Morgan County, Illinois
Source: Ownwell

$38,760
$55,440
$72,120
Median Murrayville Market Value
$63,930
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 Murrayville, Morgan County, Illinois
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
62668 | $18,360 | $37,815 | $63,930 | $112,260 | $161,124 |
Source: Ownwell
Property Tax Bills Across Murrayville, Morgan County, Illinois
In Murrayville, located in Morgan County, IL, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. Local tax rates are then applied to this assessed value to determine the tax bill. Homeowners in Murrayville face a median property tax bill of $1,157, which is below the national median of $2,400. However, tax bills can vary significantly, with amounts ranging from $681 at the 25th percentile to $2,311 at the 90th percentile, reflecting differences in property values and local tax rates.
Factors influencing property tax bills include changes in property value, local government budgets, and tax rate adjustments. These fluctuations can impact homeowners' financial planning and overall affordability of homeownership. Ownwell offers valuable services to homeowners by providing property tax appeal and exemption assistance. By analyzing property assessments and identifying discrepancies, Ownwell can help homeowners potentially reduce their tax bills, ensuring they pay only their fair share and easing the financial burden of property taxes.
Median Murrayville Tax Bill
$1,157
Median Morgan County Tax Bill
$1,473
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Murrayville, Morgan County, Illinois
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
62668 | $159 | $681 | $1,157 | $1,819 | $2,311 |
Source: Ownwell