Hillsboro, Montgomery County, Illinois Property Taxes

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Property Taxes in Hillsboro, Illinois

Median Hillsboro, IL effective property tax rate: 2.43%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Hillsboro, IL home value: $104,768
Median annual Hillsboro, IL tax bill: $2,314, $86 lower than the national median property tax bill of $2,400.

How are property taxes in Montgomery calculated?

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

Last Updated March 1, 2025

Hillsboro, Montgomery County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.65%

Estimate Property Tax Bill

$2,560

$2,375

Ownwell’s Hillsboro Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hillsboro with just two data points.

By entering your property's estimated assessed value, our calculator applies Hillsboro’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 Montgomery County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Hillsboro, Montgomery County, Illinois

Local government entities are responsible for setting property tax rates, and these can vary significantly within a state. This variation occurs because each county annually estimates the budget required to provide essential services and divides that by the total assessed value of all taxable property within its jurisdiction, resulting in the property tax rate. Though votes and legislative measures play a role in shaping these rates and budgets, this is essentially the annual process.

In Hillsboro, located in Montgomery County, IL, the effective property tax rate stands out when compared to other cities in Illinois. It's important to note that the median property tax rate in Illinois is 2.43%, which is considerably higher than the national median rate of 1.02%. This means that property owners in Hillsboro might experience tax rates that are more than double the national average, impacting their financial planning and property investment decisions. Understanding these differences is crucial for homeowners and potential buyers as they navigate the complexities of property taxes in Illinois.

Property Tax Rates Across Hillsboro, Montgomery County, Illinois

Source: Ownwell

2.11%

2.54%

2.96%

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 Hillsboro Tax Rate

2.65%

Median Effective Montgomery County Tax Rate

2.68%

Median Effective Illinois Tax Rate

2.33%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hillsboro, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62049	1.54%	2.28%	2.65%	2.79%	3.04%

Source: Ownwell

Property Tax Assessment Values Across Hillsboro, Montgomery County, Illinois

When examining property taxes in Hillsboro, 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 Montgomery 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 Montgomery 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 Hillsboro. For example, the median home price in Hillsboro is $104,768, with tax bills ranging significantly across the county. Zip code 62049 has the highest median home price at $104,768.

Property Tax Assessment Values Across Hillsboro, Montgomery County, Illinois

Source: Ownwell

$64,395

$112,488

$160,581

Median Hillsboro Market Value

$96,597

Median Montgomery County Market Value

$101,482

Median Illinois Market Value

$227,888

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hillsboro, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62049	$20,498	$55,012	$96,597	$153,030	$211,477

Source: Ownwell

Property Tax Bills Across Hillsboro, Montgomery County, Illinois

In Hillsboro, located in Montgomery County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Hillsboro face a wide range of tax bills, with the 25th percentile at $1,315 and the 75th percentile at $3,892. The highest median tax bill in the area is $2,314, which is below the national median property tax bill of $2,400. Factors such as location, property size, and local government budgets influence these taxes, impacting homeowners financially.

Ownwell assists homeowners by identifying potential savings on property taxes through appeals and exemptions. By analyzing property assessments and market conditions, Ownwell's experts can help reduce tax liabilities, ensuring homeowners pay only their fair share. This service not only alleviates financial pressure but also provides peace of mind, knowing that property taxes are accurately assessed and managed.

Property Tax Bills Across Hillsboro, Montgomery County, Illinois

Source: Ownwell

$1,463

$3,119

$4,775

Median Hillsboro Tax Bill

$2,485

Median Montgomery County Tax Bill

$2,749

Median Illinois Tax Bill

$5,277

Median United States Tax Bill

$2,400

Property Tax Bills Across Hillsboro, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62049	$602	$1,355	$2,485	$4,132	$5,967

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	June 1

Links
Montgomery Tax Assessor
Website	montgomeryil.devnetwedge.com

Frequently Asked Property Tax Questions in Hillsboro, Illinois

How are property taxes calculated in Hillsboro, Illinois?

Property taxes in Hillsboro, Illinois are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.

How do I appeal my property taxes in Hillsboro, Illinois?

To appeal your property taxes in Hillsboro, Illinois, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.

What property tax exemptions are available in Hillsboro, Illinois?

Common property tax exemptions in Hillsboro, Illinois include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.

When are property taxes due in Hillsboro, Illinois?

Property tax deadlines in Hillsboro, Illinois vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.

How can Ownwell help reduce my property taxes in Hillsboro, Illinois?

Ownwell provides professional property tax appeal services in Hillsboro, Illinois. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.