Muncie, Vermilion County, Illinois Property Taxes

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

Median Muncie, IL effective property tax rate: 2.38%, significantly higher than the national median of 1.02%, but slightly higher than the Illinois state median of 2.35%.
Median Muncie, IL home value: $66,981
Median annual Muncie, IL tax bill: $1,441, $959 lower than the national median property tax bill of $2,400.

How are property taxes in Vermilion calculated?

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

Last Updated March 1, 2025

Muncie, Vermilion County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.38%

Estimate Property Tax Bill

$1,594

$1,479

Ownwell’s Muncie Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Muncie with just two data points.

By entering your property's estimated assessed value, our calculator applies Muncie’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 Vermilion County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Muncie, Vermilion County, Illinois

Local government entities determine tax rates, which can significantly differ within a state. This is because each county annually estimates its budget needs to provide essential services and divides this by the total value of all taxable properties within its jurisdiction, resulting in the property tax rate. While setting tax rates and budgets involves votes and laws, this is the core of the annual process. In Muncie, located in Vermilion County, Illinois, the effective property tax rate is a notable 2.38%. This figure is considerably higher than the national median property tax rate of 1.02%. Interestingly, this rate is both the highest and lowest median tax rate within the zip code 61857, reflecting a uniformity in property tax rates across the area. Compared to other cities in Illinois, Muncie's rate stands out, highlighting the variability of property tax rates within the state. This emphasizes the importance of understanding local tax dynamics for property owners seeking potential savings through tax appeals and exemptions.

Property Tax Rates Across Muncie, Vermilion County, Illinois

Source: Ownwell

2.05%

2.46%

2.86%

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 Muncie Tax Rate

2.38%

Median Effective Vermilion County Tax Rate

2.53%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Muncie, Vermilion County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61857	0.86%	1.90%	2.38%	2.82%	2.82%

Source: Ownwell

Property Tax Assessment Values Across Muncie, Vermilion County, Illinois

When examining property taxes in Muncie, 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 Vermilion 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 Vermilion 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 Muncie.

For example, the median home price in Muncie is $66,981, with tax bills ranging significantly across the county. The zip code 61857 has the highest median home price at $66,981.

Property Tax Assessment Values Across Muncie, Vermilion County, Illinois

Source: Ownwell

$28,646

$72,481

$116,316

Median Muncie Market Value

$66,981

Median Vermilion County Market Value

$59,223

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Muncie, Vermilion County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61857	$20,033	$36,708	$66,981	$99,156	$124,886

Source: Ownwell

Property Tax Bills Across Muncie, Vermilion County, Illinois

In Muncie, Illinois, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. In Vermilion County, where Muncie is located, the median property tax bill is $1,441, which is significantly lower than the national median property tax bill of $2,400. Homeowners in Muncie may see tax bills ranging from the 25th percentile at $650 to the 90th percentile at $3,002, depending on their property's assessed value and other local factors. High property taxes can be a burden on homeowners, impacting affordability and financial planning.

Ownwell assists homeowners by providing property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure that homeowners are not overpaying. This service can lead to significant savings, easing the financial load on homeowners and ensuring they pay only their fair share of property taxes.

Property Tax Bills Across Muncie, Vermilion County, Illinois

Source: Ownwell

$561

$1,728

$2,894

Median Muncie Tax Bill

$1,441

Median Vermilion County Tax Bill

$1,325

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Muncie, Vermilion County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61857	$195	$650	$1,441	$2,282	$3,002

Source: Ownwell