Godfrey, Madison County, Illinois Property Taxes
Property Taxes in Godfrey, Illinois
Median Godfrey, Illinois effective property tax rate: 2.01%, significantly lower than the national median of 1.02%, and lower than the Illinois state median of 2.33%.
Median Godfrey, Illinois home value: $173,250
Median annual Godfrey, Illinois tax bill: $3,371, higher by $971 than the national median property tax bill of $2,400.
How are property taxes in Madison calculated?
Property taxes in Godfrey, 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 Godfrey's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Godfrey, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Godfrey, Madison County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.01%
Estimate Property Tax Bill
$3,482
$3,232
How Does the Godfrey Property Tax Calculator Work?
Use this Godfrey property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Godfrey's median effective tax rate of 2.01% — based on actual property records in Madison County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment system uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Godfrey's median effective rate across all local levies, providing a more accurate estimate than applying a single county rate.
Your bill may vary by ZIP code within Godfrey: rates are the same at $3,371 in 62035, reflecting local levy patterns and assessment differences.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Godfrey.
About Godfrey Property Taxes
About Property Taxes in Godfrey, Madison, Illinois
Godfrey's median effective property tax rate of 2.01% is lower than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Madison County base levy combined with local school district levies and special service areas that can vary by subdivision throughout the city.
Property tax rates are not uniform across Godfrey. Homeowners in the 62035 ZIP code carry a median effective rate of 2.01%, while the lowest rate is also 2.01%. This means there is no spread across the city, but understanding how school district boundaries and local assessment districts are drawn across Madison County still matters for your annual tax bill.
Godfrey 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 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 Godfrey, Madison 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 Godfrey'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 Godfrey Tax Rate
2.01%
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 Madison County Tax Rate
2.11%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Godfrey, Madison County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62035 | 1.56% | 1.87% | 2.01% | 2.13% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Godfrey, Madison County, Illinois
When examining property taxes in Godfrey, 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 Madison County assessment 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.
Assessment notices:
In Madison 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 Godfrey.
For example, the median home price in Godfrey is $173,250, with tax bills ranging significantly across the county. 62035 has the highest median home price at $173,250.
Property Tax Assessment Values Across Godfrey, Madison County, Illinois
Source: Ownwell
$25,755
$170,746
$315,736
Median Godfrey Market Value
$173,250
Median Madison County Market Value
$152,490
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Godfrey, Madison County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62035 | $95,136 | $120,600 | $173,250 | $250,560 | $330,984 |
Source: Ownwell
Property Tax Bills Across Godfrey, Madison County, Illinois
Property tax bills in Godfrey are calculated based on the assessed value of a home and the local tax rates set by taxing authorities. For a home with a median home price of $173,250, the bill reflects how that value is assessed for tax purposes, along with the rates applied by Madison County and other local districts.
Several factors influence the final amount, including the home’s market value, its assessed value, and any exemptions that may apply. Because tax bills are tied to local budgets, homeowners can see differences from one property to another even within the same city.
In Godfrey, the median property tax bill is $3,371, which is above the national median property tax bill of $2,400. Bills range from $2,238 at the 25th percentile to $5,088 at the 75th percentile, with the 90th percentile reaching $6,914. This means property taxes can have a significant impact on monthly housing costs and long-term affordability for homeowners.
Median Godfrey Tax Bill
$3,371
Median Madison County Tax Bill
$3,074
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Godfrey, Madison County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62035 | $1,655 | $2,238 | $3,371 | $5,088 | $6,914 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Madison Tax Assessor | |
| Website | madisonil.devnetwedge.com |