Okawville, Washington County, Illinois Property Taxes
Median Okawville, IL effective property tax rate: 2.37%, significantly higher than the national median of 1.02%, but slightly higher than the Illinois state median of 2.35%.
Median Okawville, IL home value: $36,174
Median annual Okawville, IL tax bill: $442, $1,958 lower than the national median property tax bill of $2,400.
How are property taxes in Washington County calculated?
Property taxes in Okawville, 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 Okawville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Okawville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Okawville, Washington County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.37%
Estimate Property Tax Bill
$857
$796
Property Tax Rates Across Okawville, Washington County, Illinois
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Okawville, located in Washington County, Illinois, the effective property tax rate is notable when compared to other cities in Illinois and the national average. The median property tax rate in Illinois is significantly higher than the national median of 1.02%. This means that property owners in Okawville may find themselves paying more in property taxes than the average American homeowner. However, these taxes are crucial as they fund essential local services such as schools, roads, and emergency services, which directly benefit the community. Understanding these rates and how they are determined can empower property owners to make informed decisions about their investments and potential tax appeals.
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 Okawville Taxx Rate
2.37%
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 Washington County Taxx Rate
2.25%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
0.99%
Property Tax Rates Across Okawville, Washington County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62271 | 0.76% | 1.42% | 2.37% | 2.53% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Okawville, Washington County, Illinois
When examining property taxes in Okawville, 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 Washington 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 Washington 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 Okawville. For example, the median home price in Okawville is $36,174, with tax bills ranging significantly across the county. Zip code 62271 has the highest median home price at $36,174.
Property Tax Assessment Values Across Okawville, Washington County, Illinois
Source: Ownwell
$22,533
$36,993
$51,452
Median Okawville Market Value
$36,174
Median Washington County Market Value
$38,358
Median Illinois Market Value
$194,700
Median United States Market Value
$244,900
Property Tax Assessment Values Across Okawville, Washington County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62271 | $5,110 | $11,344 | $36,174 | $61,668 | $79,706 |
Source: Ownwell
Property Tax Bills Across Okawville, Washington County, Illinois
In Okawville, located in Washington County, IL, property tax bills are calculated based on the assessed value of a home, which is a fraction of its market value. The median home price in Okawville is $36,174, and property tax rates are applied to this assessed value to determine the tax bill. Homeowners in Okawville typically see tax bills ranging from $180 at the 25th percentile to $1,641 at the 90th percentile. This means while some homeowners pay significantly less than the national median property tax bill of $2,400, others may face higher costs, depending on their property's value and applicable exemptions.
Factors influencing these bills include local tax rates and available exemptions, which can vary widely. Homeowners often find navigating these factors challenging, but Ownwell can help. By identifying potential exemptions and appealing over-assessments, Ownwell assists homeowners in reducing their property tax burden, ensuring they pay only what is fair and potentially saving them hundreds of dollars annually.
Median Okawville Tax Bill
$442
Median Washington County Tax Bill
$660
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Okawville, Washington County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62271 | $107 | $180 | $442 | $1,053 | $1,641 |
Source: Ownwell