Moweaqua, Shelby County, Illinois Property Taxes

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

Median Moweaqua, IL effective property tax rate: 2.55%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Moweaqua, IL home value: $126,384
Median annual Moweaqua, IL tax bill: $2,826, $426 higher than the national median property tax bill of $2,400.

How are property taxes in Shelby calculated?

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

Last Updated March 1, 2025

Moweaqua, Shelby County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.55%

Estimate Property Tax Bill

$3,223

$2,991

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

Property Tax Rates Across Moweaqua, Shelby County, Illinois

Local government entities are responsible for setting property tax rates, which can differ significantly across a state. The reason for this variability is that each county annually estimates the budget needed to provide its services, then divides this budget by the total assessed value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although votes and legal regulations play a role in setting these rates and budgets, this is the basic annual process.

In Moweaqua, located in Shelby County, the effective property tax rate stands out when compared to other cities in Illinois. The median property tax rate in Illinois is notably higher than the national median rate of 1.02%. Residents in Moweaqua face a property tax rate of 2.55%, which is the highest and lowest median tax rate in the region. This figure is also significantly above the national median property tax bill of $2,400. Understanding these rates can empower property owners to make informed decisions about their property tax appeals and exemptions.

Property Tax Rates Across Moweaqua, Shelby County, Illinois

Source: Ownwell

1.82%

2.19%

2.57%

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 Moweaqua Tax Rate

2.55%

Median Effective Shelby County Tax Rate

2.20%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Moweaqua, Shelby County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62550	1.78%	2.19%	2.55%	2.76%	2.91%

Source: Ownwell

Property Tax Assessment Values Across Moweaqua, Shelby County, Illinois

When examining property taxes in Moweaqua, 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 Shelby 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. Assessment notices: In Shelby 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 Moweaqua. For example, the median home price in Moweaqua is $126,384, with tax bills ranging significantly across the county. 62550 has the highest median home price at $126,384.

Property Tax Assessment Values Across Moweaqua, Shelby County, Illinois

Source: Ownwell

$65,006

$147,534

$230,062

Median Moweaqua Market Value

$126,384

Median Shelby County Market Value

$99,420

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Moweaqua, Shelby County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62550	$28,137	$67,376	$126,384	$197,784	$293,380

Source: Ownwell

Property Tax Bills Across Moweaqua, Shelby County, Illinois

In Moweaqua, located in Shelby County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage 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 local government budgets, school funding needs, and public service requirements can influence the tax rate. The median home price in Moweaqua is $126,384, with property tax bills ranging widely. For instance, tax bills at the 25th percentile are around $1,585, while those at the 90th percentile can reach up to $8,093.

For homeowners, these taxes can represent a significant annual expense, often exceeding the national median property tax bill of $2,400. Ownwell offers valuable assistance in this area by providing property tax appeal and exemption services. By leveraging their expertise, homeowners can potentially reduce their tax bills, ensuring they are not overpaying. This service can lead to substantial savings, particularly for those with higher assessed property values.

Property Tax Bills Across Moweaqua, Shelby County, Illinois

Source: Ownwell

$1,295

$3,351

$5,407

Median Moweaqua Tax Bill

$2,826

Median Shelby County Tax Bill

$2,114

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Moweaqua, Shelby County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62550	$744	$1,585	$2,826	$5,076	$8,093

Source: Ownwell