Milton, Pike County, Illinois Property Taxes

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

Median Milton, IL effective property tax rate: 1.92%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Milton, IL home value: $56,340
Median annual Milton, IL tax bill: $997, $1,403 lower than the national median property tax bill of $2,400.

How are property taxes in Pike County calculated?

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

Last Updated March 1, 2025

Milton, Pike County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.92%

Estimate Property Tax Bill

$1,082

$1,004

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

Property Tax Rates Across Milton, Pike 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, resulting 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 Milton’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Milton, located in Pike County, has a median property tax rate of 1.92%, which is notably higher than the national median of 1.02%. This places Milton among the higher taxed areas in Illinois. The effective tax rate in Milton reflects the county's budgetary needs and the total assessed value of its properties. While the tax rate in Milton is the same across Pike County, it is essential to understand how it compares to the national landscape. With the national median property tax bill at $2400, residents in Milton may find their tax obligations comparatively more substantial. Understanding these figures can help property owners make informed decisions about their investments and potential savings through appeals or exemptions.

Property Tax Rates Across Milton, Pike County, Illinois

Source: Ownwell

1.79%

2.06%

2.32%

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 Milton Taxx Rate

1.92%

Median Effective Pike County Taxx Rate

1.93%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Milton, Pike County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62352	1.16%	1.53%	1.92%	2.64%	2.65%

Source: Ownwell

Property Tax Assessment Values Across Milton, Pike County, Illinois

When examining property taxes in Milton, 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 Pike 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 Pike 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 Milton.

For example, the median home price in Milton is $56,340, with tax bills ranging significantly across the county. Zip code 62352 has the highest median home price at $56,340.

Property Tax Assessment Values Across Milton, Pike County, Illinois

Source: Ownwell

$47,175

$66,885

$86,595

Median Milton Market Value

$56,340

Median Pike County Market Value

$72,180

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Milton, Pike County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62352	$23,406	$39,022	$56,340	$76,702	$93,300

Source: Ownwell

Property Tax Bills Across Milton, Pike County, Illinois

In Milton, located in Pike County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value. For homeowners in Milton, the median home price stands at $56,340. Property tax bills can vary significantly, with the 25th percentile at $624 and the 75th percentile reaching $1,584. The 90th percentile tax bill is $1,996, which is above the national median property tax bill of $2,400. These figures indicate that while some homeowners may face lower tax bills, others could experience higher financial burdens. Ownwell assists homeowners by offering property tax appeal services, potentially reducing these burdens. By analyzing property assessments and identifying discrepancies, Ownwell can help ensure that homeowners are not overpaying on their property taxes. This service can lead to significant savings, providing financial relief and ensuring fair taxation for homeowners in Milton.

Property Tax Bills Across Milton, Pike County, Illinois

Source: Ownwell

$834

$1,249

$1,663

Median Milton Tax Bill

$997

Median Pike County Tax Bill

$1,317

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Milton, Pike County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62352	$348	$624	$997	$1,584	$1,996

Source: Ownwell