Millcreek, Union County, Illinois Property Taxes
Median Millcreek, IL effective property tax rate: 0.67%, significantly lower than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Millcreek, IL home value: $31,707
Median annual Millcreek, IL tax bill: $215, $2,185 lower than the national median property tax bill of $2,400.
How are property taxes in Union County calculated?
Property taxes in Millcreek, 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 Millcreek’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Millcreek, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Millcreek, Union County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.67%
Estimate Property Tax Bill
$212
$197
Property Tax Rates Across Millcreek, Union County, Illinois
Local government entities are responsible for setting tax rates, and these rates can differ significantly within a state. Each year, counties estimate their necessary budget to provide essential services and then divide this figure by the total value of all taxable property within the county. This calculation determines the property tax rate. Although votes and legislation play a role in establishing tax rates and budgets, this is the basic process followed annually.
In Millcreek, located in Union County, Illinois, the effective property tax rate is 0.67%. This is notably lower than the national median property tax rate of 1.02%. When compared to the national median property tax bill of $2,400, Millcreek residents benefit from a more favorable tax environment. This lower rate can be an attractive feature for potential homeowners considering a move to the area. By offering a lower property tax rate, Millcreek provides an opportunity for residents to enjoy reduced annual tax expenses, potentially freeing up funds for other investments or savings.
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 Millcreek Tax Rate
0.67%
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 Union County Tax Rate
1.65%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Millcreek, Union County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62961 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Millcreek, Union County, Illinois
When examining property taxes in Millcreek, 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 Union 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 Union County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Millcreek. For example, the median home price in Millcreek is $31,707, with tax bills ranging significantly across the county.
Median Millcreek Market Value
$31,707
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Millcreek, Union County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62961 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Millcreek, Union County, Illinois
In Millcreek, located in Union County, IL, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements made. With a median home price of $31,707, property tax bills can vary significantly. For instance, at the 25th percentile, bills are as low as $59, while at the 90th percentile, they can reach up to $556. These figures highlight the disparity in tax obligations among homeowners.
Compared to the national median property tax rate of 1.02% and a median bill of $2,400, Millcreek's tax rates can be more manageable, but they still represent a significant expense for many homeowners. Ownwell offers property tax appeal and exemption services to help homeowners reduce their tax burden. By leveraging expertise in local tax laws and market conditions, Ownwell can identify opportunities for savings, ensuring that homeowners pay only their fair share.
Median Millcreek Tax Bill
$215
Median Union County Tax Bill
$1,584
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Millcreek, Union County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62961 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell