Lovington, Moultrie County, Illinois Property Taxes

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

Median Lovington, IL effective property tax rate: 1.84%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Lovington, IL home value: $77,919
Median annual Lovington, IL tax bill: $1,321, $1,079 lower than the national median property tax bill of $2,400.

How are property taxes in Moultrie County calculated?

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

Last Updated March 1, 2025

Lovington, Moultrie County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.84%

Estimate Property Tax Bill

$1,434

$1,330

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

Property Tax Rates Across Lovington, Moultrie County, Illinois

Local government entities are responsible for setting property tax rates, which can vary significantly within Illinois. The process involves each county estimating its necessary budget to deliver services and dividing that amount by the total value of all taxable property within its borders. This calculation determines the property tax rate. While votes and legislation play a role in setting these rates and budgets, this is essentially the annual procedure. In Lovington, located in Moultrie County, the effective property tax rate is worth noting. Compared to other cities in Illinois, Lovington's rate is aligned with the state's median, which is higher than the national median property tax rate of 1.02%. This comparison highlights the variation in property tax rates across different regions. Understanding these differences can be crucial for property owners looking to manage their tax liabilities effectively.

Property Tax Rates Across Lovington, Moultrie County, Illinois

Source: Ownwell

1.58%

1.94%

2.29%

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 Lovington Tax Rate

1.84%

Median Effective Moultrie County Tax Rate

2.15%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lovington, Moultrie County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61937	0.94%	1.50%	1.84%	2.30%	2.46%

Source: Ownwell

Property Tax Assessment Values Across Lovington, Moultrie County, Illinois

When examining property taxes in Lovington, 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 Moultrie 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 Moultrie County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 Lovington. For example, the median home price in Lovington is $77,919, with tax bills ranging significantly across the county. Zip code 61937 has the highest median home price at $77,919.

Property Tax Assessment Values Across Lovington, Moultrie County, Illinois

Source: Ownwell

$34,636

$96,488

$158,340

Median Lovington Market Value

$77,919

Median Moultrie County Market Value

$97,648

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lovington, Moultrie County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61937	$22,952	$48,071	$77,919	$120,700	$188,267

Source: Ownwell

Property Tax Bills Across Lovington, Moultrie County, Illinois

In Lovington, Illinois, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor’s estimation of the property's market value. This assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as the home's location, size, and improvements can influence the assessed value. In Moultrie County, where Lovington is located, the median property tax bill is $1,321, which is above the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $743 and the 90th percentile reaching $4,245. These variations can pose a financial challenge for homeowners. Ownwell offers property tax appeal and exemption services to help homeowners potentially reduce their tax burden. By analyzing property assessments and market data, Ownwell identifies opportunities for savings and assists in filing appeals, ensuring that homeowners are not overpaying on their property taxes.

Property Tax Bills Across Lovington, Moultrie County, Illinois

Source: Ownwell

$561

$2,347

$4,133

Median Lovington Tax Bill

$1,321

Median Moultrie County Tax Bill

$2,121

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Lovington, Moultrie County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61937	$332	$743	$1,321	$2,286	$4,245

Source: Ownwell