Monee, Will County, Illinois Property Taxes

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

Median Monee, IL effective property tax rate: 3.32%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Monee, IL home value: $229,755
Median annual Monee, IL tax bill: $7,374, $4,974 higher than the national median property tax bill of $2,400.

How are property taxes in Will County calculated?

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

Last Updated March 1, 2025

Monee, Will County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.32%

Estimate Property Tax Bill

$7,628

$7,078

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

Property Tax Rates Across Monee, Will 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 to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in determining tax rates and budgets, this is essentially the yearly process.

Monee in Will County, Illinois, is a prime example of how property tax rates can differ. The effective property tax rate here is notably higher than both the state and national medians. With Illinois having one of the highest median property tax rates in the country, Monee's rate is a reflection of the broader state trend. Property owners in Monee face a significant tax burden compared to the national median rate of 1.02% and a median bill of $2,400. Understanding these rates is crucial for property owners who seek to manage their tax liabilities effectively.

Property Tax Rates Across Monee, Will County, Illinois

Source: Ownwell

1.73%

3.67%

5.61%

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 Monee Tax Rate

3.32%

Median Effective Will County Tax Rate

2.62%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Monee, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60449	1.88%	1.99%	3.32%	3.59%	3.69%

Source: Ownwell

Property Tax Assessment Values Across Monee, Will County, Illinois

When examining property taxes in Monee, 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 Will 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 Will 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 Monee.

For example, the median home price in Monee is $229,755, with tax bills ranging significantly across the county. The 60449 zip code has the highest median home price at $229,755.

Property Tax Assessment Values Across Monee, Will County, Illinois

Source: Ownwell

$101,070

$390,154

$679,238

Median Monee Market Value

$229,755

Median Will County Market Value

$251,502

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Monee, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60449	$153,174	$183,230	$229,755	$347,614	$446,630

Source: Ownwell

Property Tax Bills Across Monee, Will County, Illinois

In Monee, located in Will County, IL, property tax bills are determined by the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, and in this region, it significantly influences the tax bill. Homeowners in Monee face a median tax bill of $7,374, which is considerably higher than the national median of $2,400. Factors such as local government budgets, school funding needs, and public services impact the tax rate, contributing to these elevated bills. For homeowners, this can mean a substantial financial burden, especially when compared to the national median property tax rate of 1.02%. Ownwell steps in to assist homeowners by offering property tax appeal services, aiming to reduce these hefty bills. By analyzing property assessments and identifying discrepancies, Ownwell helps homeowners potentially lower their tax obligations, ensuring they pay only their fair share. This service can result in significant savings and financial relief for property owners in Monee.

Property Tax Bills Across Monee, Will County, Illinois

Source: Ownwell

$1,870

$11,744

$21,617

Median Monee Tax Bill

$7,374

Median Will County Tax Bill

$6,703

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Monee, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60449	$4,467	$5,831	$7,374	$8,822	$11,025

Source: Ownwell