Monticello, Piatt County, Illinois Property Taxes

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

Median Monticello, IL effective property tax rate: 2.22%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Monticello, IL home value: $150,564
Median annual Monticello, IL tax bill: $3,412, $1,012 higher than the national median property tax bill of $2,400.

How are property taxes in Piatt County calculated?

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

Last Updated March 1, 2025

Monticello, Piatt County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.22%

Estimate Property Tax Bill

$3,343

$3,102

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

Property Tax Rates Across Monticello, Piatt County, Illinois

Local government entities are responsible for setting tax rates, which can vary widely within a state. This is because each county annually estimates its required budget to provide essential 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 play a role in setting these rates and budgets, this is essentially the annual process. In Monticello, located in Piatt County, Illinois, the effective property tax rate is notably high compared to the national median of 1.02%. The median property tax rate in Monticello stands at 2.22%, which is significantly above the national average. This means property owners in Monticello are likely to face higher tax bills than those in many other parts of the country. Comparing Monticello’s rate to other cities in Illinois, it becomes evident that Monticello is on the higher end of the spectrum. For homeowners in Monticello, understanding these rates and how they compare to state and national figures can be crucial for financial planning and property tax appeals.

Property Tax Rates Across Monticello, Piatt County, Illinois

Source: Ownwell

2.22%

2.71%

3.20%

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 Monticello Tax Rate

2.22%

Median Effective Piatt County Tax Rate

2.43%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Monticello, Piatt County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61856	1.77%	2.03%	2.22%	2.29%	2.52%

Source: Ownwell

Property Tax Assessment Values Across Monticello, Piatt County, Illinois

When examining property taxes in Monticello, 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 Piatt County Assessor 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. Assessment notices: In Piatt 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 Monticello. For example, the median home price in Monticello is $150,564, with tax bills ranging significantly across the county. 61856 has the highest median home price at $150,564.

Property Tax Assessment Values Across Monticello, Piatt County, Illinois

Source: Ownwell

$123,234

$214,217

$305,199

Median Monticello Market Value

$150,564

Median Piatt County Market Value

$166,770

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Monticello, Piatt County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61856	$50,185	$103,464	$150,564	$231,904	$419,177

Source: Ownwell

Property Tax Bills Across Monticello, Piatt County, Illinois

Property tax bills in Monticello, located in Piatt County, IL, are determined by the assessed value of a property, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to calculate the tax bill. In Monticello, the median property tax bill is $3,412, which is notably higher than the national median of $2,400. This reflects the area's property values and tax rates. Homeowners in Monticello may face tax bills ranging from the 25th percentile at $2,391 to the 90th percentile at $10,308, depending on various factors such as property location and improvements. These substantial tax bills can significantly impact homeowners' finances, making it crucial to ensure they are not overpaying. Ownwell offers services to help homeowners in Monticello potentially reduce their property tax bills by analyzing property assessments and filing appeals if necessary. By leveraging local expertise and a deep understanding of the property tax system, Ownwell aims to secure savings for homeowners.

Property Tax Bills Across Monticello, Piatt County, Illinois

Source: Ownwell

$3,412

$6,110

$8,807

Median Monticello Tax Bill

$3,412

Median Piatt County Tax Bill

$4,197

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Monticello, Piatt County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61856	$1,590	$2,391	$3,412	$6,056	$10,308

Source: Ownwell