Meredosia, Morgan County, Illinois Property Taxes
Median Meredosia, IL effective property tax rate: 2.51%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.
Median Meredosia, IL home value: $49,485
Median annual Meredosia, IL tax bill: $973, $1,427 lower than the national median property tax bill of $2,400.
How are property taxes in Morgan County calculated?
Property taxes in Meredosia, 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 Meredosia's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Meredosia, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Meredosia, Morgan County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.51%
Estimate Property Tax Bill
$1,242
$1,153
Property Tax Rates Across Meredosia, Morgan County, Illinois
Local government entities set tax rates, which can vary widely within a state. 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 Meredosia’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Meredosia, in Morgan County, has an effective property tax rate of 2.51%, which is significantly higher than the national median of 1.02%. This places Meredosia among the areas with the highest property tax rates in Illinois. The county's tax rate is also higher than many other counties within the state. For property owners in Meredosia, this means a substantial portion of their property value goes towards taxes, emphasizing the importance of understanding potential savings through tax appeals and exemptions.
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 Meredosia Tax Rate
2.51%
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 Morgan County Tax Rate
2.08%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Meredosia, Morgan County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62665 | 1.25% | 1.91% | 2.51% | 3.19% | 3.35% |
Source: Ownwell
Property Tax Assessment Values Across Meredosia, Morgan County, Illinois
When examining property taxes in Meredosia, IL, 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 Morgan County Assessor's 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.
In Morgan County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Meredosia.
For example, the median home price in Meredosia is $49,485, with tax bills ranging significantly across the county. Zip code 62665 has the highest median home price at $49,485.
Property Tax Assessment Values Across Meredosia, Morgan County, Illinois
Source: Ownwell
$49,485
$105,413
$161,340
Median Meredosia Market Value
$49,485
Median Morgan County Market Value
$107,895
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Meredosia, Morgan County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62665 | $4,755 | $17,550 | $49,485 | $71,670 | $98,400 |
Source: Ownwell
Property Tax Bills Across Meredosia, Morgan County, Illinois
In Meredosia, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is determined by the local assessor. Factors such as property size, location, and improvements can influence this value. Homeowners in Meredosia face a median property tax bill of $973, which is significantly lower than the national median of $2,400. However, bills can vary, with amounts ranging from $382 at the 25th percentile to $2,627 at the 90th percentile. These variations can impact homeowners' budgets, particularly if the assessed value is higher than expected.
Ownwell can assist homeowners in Meredosia by identifying potential savings on their property tax bills. By reviewing assessments for inaccuracies and filing appeals when necessary, Ownwell ensures that homeowners pay only their fair share. This service not only reduces the financial burden on homeowners but also provides peace of mind knowing that their property taxes are being managed efficiently.
Median Meredosia Tax Bill
$973
Median Morgan County Tax Bill
$2,129
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Meredosia, Morgan County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62665 | $145 | $382 | $973 | $1,786 | $2,627 |
Source: Ownwell