Mount Erie, Wayne County, Illinois Property Taxes

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

Median Mount Erie, IL effective property tax rate: 1.99%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Mount Erie, IL home value: $65,040
Median annual Mount Erie, IL tax bill: $1,350, $1,050 lower than the national median property tax bill of $2,400.

How are property taxes in Wayne County calculated?

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

Last Updated March 1, 2025

Mount Erie, Wayne County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.99%

Estimate Property Tax Bill

$1,294

$1,201

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

Property Tax Rates Across Mount Erie, Wayne County, Illinois

Local government entities set tax rates, which can vary widely within a state. Annually, 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. Below, you can compare Mount Erie's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. In Mount Erie, located in Wayne County, the property tax rate stands at 1.99%, which is significantly higher than the national median property tax rate of 1.02%. This rate is consistent across the county, with Mount Erie sharing the highest and lowest median tax rates in the area. Consequently, residents in Mount Erie face property tax bills that are considerably above the national median of $2,400. Understanding these rates is crucial for homeowners looking to manage their tax liabilities effectively.

Property Tax Rates Across Mount Erie, Wayne County, Illinois

Source: Ownwell

1.71%

1.93%

2.16%

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 Mount Erie Tax Rate

1.99%

Median Effective Wayne County Tax Rate

2.01%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Mount Erie, Wayne County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62446	0.73%	1.50%	1.99%	2.27%	2.43%

Source: Ownwell

Property Tax Assessment Values Across Mount Erie, Wayne County, Illinois

When examining property taxes in Mount Erie, 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 Wayne County Assessor 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 Wayne County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 Mount Erie.

For example, the median home price in Mount Erie is $65,040, with tax bills ranging significantly across the county. Zip code 62446 has the highest median home price at $65,040.

Property Tax Assessment Values Across Mount Erie, Wayne County, Illinois

Source: Ownwell

$55,174

$78,362

$101,550

Median Mount Erie Market Value

$65,040

Median Wayne County Market Value

$66,714

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Mount Erie, Wayne County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62446	$8,241	$23,559	$65,040	$108,909	$222,834

Source: Ownwell

Property Tax Bills Across Mount Erie, Wayne County, Illinois

In Mount Erie, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Wayne County can expect a median tax bill of $1,350, which is below the national median of $2,400. Factors influencing property tax bills include home size, location, and local tax rates. With the median home price at $65,040, understanding these components is essential for homeowners aiming to manage their expenses effectively. High property taxes can significantly impact household budgets, making it crucial for homeowners to ensure their assessments are accurate. Ownwell offers expert property tax appeal and exemption services to help homeowners reduce their tax burdens. By analyzing property assessments and identifying discrepancies, Ownwell can assist in lowering tax bills, potentially saving homeowners hundreds of dollars annually. This proactive approach not only alleviates financial strain but also ensures homeowners pay a fair amount, aligning their tax obligations with the true value of their property.

Property Tax Bills Across Mount Erie, Wayne County, Illinois

Source: Ownwell

$1,272

$1,694

$2,116

Median Mount Erie Tax Bill

$1,350

Median Wayne County Tax Bill

$1,458

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Mount Erie, Wayne County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62446	$219	$421	$1,350	$2,518	$5,148

Source: Ownwell