Wood River, Madison County, Illinois Property Taxes
Property Taxes in Wood River, Illinois
Median Wood River, Illinois effective property tax rate: 2.18%, significantly higher than the national median of 1.02%, and lower than the Illinois state median of 2.33%.
Median Wood River, Illinois home value: $101,460
Median annual Wood River, Illinois tax bill: $2,197, $203 lower than the national median property tax bill of $2,400.
How are property taxes in Madison calculated?
Property taxes in Wood River, 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 Wood River's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wood River, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Wood River, Madison County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.18%
Estimate Property Tax Bill
$2,212
$2,053
How Does the Wood River Property Tax Calculator Work?
Use this Wood River property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Wood River's median effective tax rate of 2.18% — based on actual property records in Madison 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 Wood River'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 Wood River: rates range from 2.18% in 62095 to 2.18% in 62095, 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 Wood River.
About Wood River Property Taxes
About Property Taxes in Wood River, Madison, Illinois
Wood River’s median effective property tax rate of 2.18% 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 Wood River. Homeowners in the 62095 ZIP code carry a median effective rate of 2.18%, and homeowners in the same ZIP also see the city’s median home price of $101,460 and median tax bill of $2,197. That local structure helps explain why assessed values and tax bills can differ from one area to another within Madison County.
Wood River 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 Wood River, 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 Wood River'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 Wood River Tax Rate
2.18%
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 Wood River, Madison County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62095 | 1.23% | 1.75% | 2.18% | 2.57% | 2.86% |
Source: Ownwell
Property Tax Assessment Values Across Wood River, Madison County, Illinois
When examining property taxes in Wood River, 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.
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 Wood River.
For example, the median home price in Wood River is $101,460, with tax bills ranging significantly across the county. 62095 has the highest median home price at $101,460.
Property Tax Assessment Values Across Wood River, Madison County, Illinois
Source: Ownwell
$25,755
$170,746
$315,736
Median Wood River Market Value
$101,460
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 Wood River, Madison County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62095 | $61,740 | $80,610 | $101,460 | $132,090 | $178,614 |
Source: Ownwell
Property Tax Bills Across Wood River, Madison County, Illinois
Property tax bills in Wood River are based on the assessed value of a home, not its market price. Local taxing authorities apply tax rates to that assessed value to determine the annual bill, and the amount can vary depending on where the property is located within Madison County.
For homeowners, this means a higher assessed value can lead to a larger tax bill, while a lower assessment can reduce what is owed. In Wood River, the median property tax bill is $2,197, which is slightly below the national median property tax bill of $2,400. The median home price is $101,460, and tax bills commonly range from $1,546 at the 25th percentile to $2,919 at the 75th percentile, with the 90th percentile reaching $3,899. These differences show how property tax bills can affect household budgets and why understanding the assessment process matters for homeowners.
Median Wood River Tax Bill
$2,197
Median Madison County Tax Bill
$3,074
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Wood River, Madison County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62095 | $965 | $1,546 | $2,197 | $2,919 | $3,899 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Madison Tax Assessor | |
| Website | madisonil.devnetwedge.com |