Morton, Tazewell County, Illinois Property Taxes

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

Median Morton, IL effective property tax rate: 2.31%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Morton, IL home value: $196,755
Median annual Morton, IL tax bill: $4,472, $2,072 higher than the national median property tax bill of $2,400.

How are property taxes in Tazewell County calculated?

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

Last Updated March 1, 2025

Morton, Tazewell County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.31%

Estimate Property Tax Bill

$4,545

$4,218

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

Property Tax Rates Across Morton, Tazewell County, Illinois

Local government entities set property tax rates, and these can vary significantly within Illinois. This is because each county annually estimates its budget needs for public services and divides this 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 the essence of the annual process.

In Morton, located in Tazewell County, the effective property tax rate stands at 2.31%, which is notably higher than the national median of 1.02%. This rate is consistent throughout the county, as both the highest and lowest median tax rates in the area are 2.31%. When comparing Morton's property tax rate to other cities in Illinois, it reflects the state's tendency towards higher property tax rates, with Illinois often ranking among the states with the highest property tax burdens. Morton's rate also surpasses the national median property tax bill of $2,400, indicating a higher financial commitment for homeowners in this region.

Property Tax Rates Across Morton, Tazewell County, Illinois

Source: Ownwell

1.96%

2.38%

2.80%

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 Morton Tax Rate

2.31%

Median Effective Tazewell County Tax Rate

2.46%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Morton, Tazewell County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61550	2.00%	2.18%	2.31%	2.41%	2.51%

Source: Ownwell

Property Tax Assessment Values Across Morton, Tazewell County, Illinois

When examining property taxes in Morton, 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 Tazewell County Assessor's Office 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 Tazewell 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 Morton.

For example, the median home price in Morton is $196,755, with tax bills ranging significantly across the county. Zip code 61550 has the highest median home price at $196,755.

Property Tax Assessment Values Across Morton, Tazewell County, Illinois

Source: Ownwell

$67,290

$196,785

$326,280

Median Morton Market Value

$196,755

Median Tazewell County Market Value

$127,050

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Morton, Tazewell County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61550	$123,630	$156,922	$196,755	$275,670	$369,867

Source: Ownwell

Property Tax Bills Across Morton, Tazewell County, Illinois

In Morton, located in Tazewell County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. For homeowners in Morton, the median home price is $196,755, with property tax bills ranging significantly. While the 25th percentile tax bill is $3,472, it can climb to $8,951 at the 90th percentile. The median tax bill stands at $4,472, which is substantially higher than the national median of $2,400. These taxes fund essential services like schools and infrastructure, impacting homeowners' finances. Ownwell can assist homeowners in Morton by appealing their property tax assessments, potentially lowering their tax bills. Our experts analyze property data to identify discrepancies in assessed values, ensuring homeowners aren't overpaying. By leveraging our expertise, homeowners can achieve significant savings, alleviating the financial burden of high property taxes.

Property Tax Bills Across Morton, Tazewell County, Illinois

Source: Ownwell

$1,564

$4,524

$7,483

Median Morton Tax Bill

$4,472

Median Tazewell County Tax Bill

$3,118

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Morton, Tazewell County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61550	$2,579	$3,472	$4,472	$6,466	$8,951

Source: Ownwell