Waterloo, St. Clair County, Illinois Property Taxes

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

Median Waterloo, IL effective property tax rate: 2.20%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Waterloo, IL home value: $162,369
Median annual Waterloo, IL tax bill: $3,289, $889 higher than the national median property tax bill of $2,400.

How are property taxes in St. Clair calculated?

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

Last Updated March 1, 2025

Waterloo, St. Clair County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.2%

Estimate Property Tax Bill

$3,572

$3,315

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

Property Tax Rates Across Waterloo, St. Clair County, Illinois

Local government entities are responsible for setting tax rates, which can vary significantly across different areas. Each year, counties calculate the necessary budget to provide essential services and then divide that by the total assessed value of all taxable properties within their jurisdiction. This process determines the property tax rate. Although votes and legislation play a role in establishing tax rates and budgets, this annual calculation is the core of the process.

In Waterloo, located in Monroe County, Illinois, property tax rates reflect this process. With a median property tax rate of 2.20%, it stands out compared to the national median of 1.02%. This rate is also above the national median property tax bill of $2,400. When compared to other areas in Illinois, Waterloo shares the same median tax rate as the highest and lowest rates in the state, both at 2.20%. This indicates a consistent tax environment within the region. Understanding these rates and how they compare to national and state medians can help property owners make informed decisions regarding their investments and financial planning.

Property Tax Rates Across Waterloo, St. Clair County, Illinois

Source: Ownwell

2.11%

4.36%

6.62%

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 Waterloo Taxx Rate

2.20%

Median Effective St. Clair County Taxx Rate

2.55%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Waterloo, St. Clair County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62298	1.63%	1.96%	2.20%	2.47%	2.66%

Source: Ownwell

Property Tax Assessment Values Across Waterloo, St. Clair County, Illinois

When examining property taxes in Waterloo, 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 St. Clair 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 St. Clair 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 Waterloo. For example, the median home price in Waterloo is $162,369, with tax bills ranging significantly across the county. Zip code 62298 has the highest median home price at $162,369.

Property Tax Assessment Values Across Waterloo, St. Clair County, Illinois

Source: Ownwell

$15,501

$141,572

$267,642

Median Waterloo Market Value

$162,369

Median St. Clair County Market Value

$110,946

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Waterloo, St. Clair County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62298	$43,121	$91,164	$162,369	$247,161	$323,172

Source: Ownwell

Property Tax Bills Across Waterloo, St. Clair County, Illinois

In Waterloo, located in St. Clair County, IL, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Waterloo is $162,369, with property tax bills ranging significantly depending on the property's assessed value and the tax rate applied. For instance, tax bills in the 25th percentile are around $1,799, while those in the 75th percentile can reach $5,392. Homeowners in the 90th percentile might see bills as high as $7,174. The median tax bill in the area is $3,289, which is above the national median of $2,400. These taxes can significantly impact homeowners' finances. Ownwell assists homeowners by providing property tax appeal and exemption services, potentially lowering these bills. By analyzing property assessments and ensuring fair evaluations, Ownwell helps homeowners save money and reduce their financial burden.

Property Tax Bills Across Waterloo, St. Clair County, Illinois

Source: Ownwell

$575

$2,992

$5,408

Median Waterloo Tax Bill

$3,289

Median St. Clair County Tax Bill

$2,735

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Waterloo, St. Clair County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62298	$819	$1,799	$3,289	$5,392	$7,174

Source: Ownwell