Mulkeytown, Franklin County, Illinois Property Taxes
Property Taxes in Mulkeytown, Illinois
Median Mulkeytown, Illinois effective property tax rate: 2.03%, significantly higher than the national median of 1.02%, and lower than the Illinois state median of 2.33%.
Median Mulkeytown, Illinois home value: $60,412
Median annual Mulkeytown, Illinois tax bill: $1,343, $1,057 lower than the national median property tax bill of $2,400.
How are property taxes in Franklin calculated?
Property taxes in Mulkeytown, Illinois 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 Mulkeytown's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mulkeytown, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Mulkeytown, Franklin County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.03%
Estimate Property Tax Bill
$1,226
$1,138
How Does the Mulkeytown Property Tax Calculator Work?
Use this Mulkeytown property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Mulkeytown's median effective tax rate of 2.03% — based on actual property records in Franklin County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Mulkeytown's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Mulkeytown: rates range from 2.03% in 62865 to 2.03% in 62865, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Mulkeytown.
About Mulkeytown Property Taxes
About Property Taxes in Mulkeytown, Franklin, Illinois
Mulkeytown’s median effective property tax rate of 2.03% is lower than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Franklin County base levy combined with local school district levies and special service areas that vary by subdivision throughout the city.
Property tax rates are not uniform across Mulkeytown. Homeowners in the 62865 ZIP code carry a median effective rate of 2.03%, while those in the lowest ZIP also pay 2.03%. This spread reflects how school district boundaries and local assessment districts are drawn across Franklin County. Understanding which part of Mulkeytown you live in can make a meaningful difference to your annual tax bill.
Mulkeytown homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Mulkeytown, Franklin County, Illinois
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because 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 Mulkeytown's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
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 Mulkeytown Tax Rate
2.03%
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 Franklin County Tax Rate
2.43%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mulkeytown, Franklin County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62865 | 1.02% | 1.67% | 2.03% | 2.49% | 3.54% |
Source: Ownwell
Property Tax Assessment Values Across Mulkeytown, Franklin County, Illinois
When examining property taxes in Mulkeytown, 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 Franklin 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.
Assessment notices:
In Franklin County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
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 Mulkeytown.
For example, the median home price in Mulkeytown is $60,412, with tax bills ranging significantly across the county. ZIP code 62865 has the highest median home price at $60,412.
Property Tax Assessment Values Across Mulkeytown, Franklin County, Illinois
Source: Ownwell
$29,422
$61,504
$93,585
Median Mulkeytown Market Value
$60,412
Median Franklin County Market Value
$58,980
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mulkeytown, Franklin County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62865 | $5,498 | $27,698 | $60,412 | $105,652 | $150,330 |
Source: Ownwell
Property Tax Bills Across Mulkeytown, Franklin County, Illinois
Property tax bills in Mulkeytown are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. Local taxing authorities use that assessed value to determine how much each homeowner owes each year. Because the bill is tied to value, homes with higher assessed values generally face higher property tax bills.
Several factors can affect the final amount, including the home’s location, its market value, and the tax rates set by local governments. In Franklin County, the median home price is $60,412, and the median property tax bill in the area is $1,343. That amount is below the national median property tax bill of $2,400, showing that many homeowners in Mulkeytown may pay less than the typical U.S. homeowner.
For homeowners, this means a property tax bill can change when assessed values change, even if the home itself does not.
Median Mulkeytown Tax Bill
$1,343
Median Franklin County Tax Bill
$1,556
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Mulkeytown, Franklin County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62865 | $275 | $663 | $1,343 | $2,401 | $3,594 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Franklin Tax Assessor | |
| Website | franklinil.devnetwedge.com |