Tennessee, Mcdonough County, Illinois Property Taxes
Property Taxes in Tennessee, Illinois
Median Tennessee, Illinois effective property tax rate: 2.20%, significantly higher than the national median of 1.02%, and lower than the Illinois state median of 2.33%.
Median Tennessee, Illinois home value: $40,578
Median annual Tennessee, Illinois tax bill: $744, $1,656 lower than the national median property tax bill of $2,400.
How are property taxes in McDonough calculated?
Property taxes in Tennessee, 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 Tennessee's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Tennessee, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Tennessee, Mcdonough County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.2%
Estimate Property Tax Bill
$893
$828
How Does the Tennessee Property Tax Calculator Work?
Use this Tennessee property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Tennessee's median effective tax rate of 2.20% — based on actual property records in McDonough 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 Tennessee'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 Tennessee: rates range from 2.20% in 62374 to 2.20% in 62374, 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 Tennessee.
About Tennessee Property Taxes
About Property Taxes in Tennessee, McDonough, Illinois
Tennessee's median effective property tax rate of 2.20% is lower than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the McDonough County base levy combined with local school district levies and Special service areas (SSAs) that vary by subdivision throughout the city.
Property tax rates are not uniform across Tennessee. Homeowners in the 62374 ZIP code carry a median effective rate of 2.20%, while those in the same ZIP pay 2.20%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across McDonough County. Understanding which part of Tennessee you live in can make a meaningful difference to your annual tax bill.
Tennessee homeowners who believe their assessed value is too high can file a formal appeal with the local 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 Tennessee, Mcdonough 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 Tennessee'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 Tennessee Tax Rate
2.20%
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 Mcdonough County Tax Rate
2.96%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Tennessee, Mcdonough County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62374 | 0.92% | 1.29% | 2.20% | 2.86% | 2.86% |
Source: Ownwell
Property Tax Assessment Values Across Tennessee, Mcdonough County, Illinois
When examining property taxes in Tennessee, 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 McDonough 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 McDonough 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. The median home price in Tennessee is $40,578, and the median tax bill is $744, compared with the national median property tax rate of 1.02% and national median property tax bill of $2,400. The highest median home price is in 62374 at $40,578.
Property Tax Assessment Values Across Tennessee, Mcdonough County, Illinois
Source: Ownwell
$37,314
$69,338
$101,361
Median Tennessee Market Value
$40,578
Median Mcdonough County Market Value
$74,048
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Tennessee, Mcdonough County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62374 | $18,821 | $27,930 | $40,578 | $65,682 | $104,866 |
Source: Ownwell
Property Tax Bills Across Tennessee, Mcdonough County, Illinois
How are property tax bills calculated in Tennessee in McDonough County?
Property tax bills are based on the assessed value of a home, not its market price alone. Local taxing authorities apply the property tax rate to that assessed value, and the final bill reflects the combined impact of county, city, and other local levies. For homeowners in Tennessee, this means two homes with similar market values can still receive different tax bills if their assessed values or tax rates differ.
What factors affect the bill? Home value, assessment rules, and local tax rates all play a role. In McDonough County, the median home price is $40,578, while the median property tax bill is $744. That is well below the national median property tax bill of $2,400 and below the national median property tax rate of 1.02%.
How does this affect homeowners? A lower tax bill can ease monthly housing costs, but even modest changes in assessed value or local rates can raise what a homeowner owes.
Median Tennessee Tax Bill
$744
Median Mcdonough County Tax Bill
$2,037
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Tennessee, Mcdonough County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62374 | $245 | $502 | $744 | $1,505 | $2,960 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| McDonough Tax Assessor | |
| Website | mcdonoughil.devnetwedge.com |