Mulberry Grove, Bond County, Illinois Property Taxes

Name: Property Tax Bills Across Mulberry Grove, Bond County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Mulberry Grove, IL effective property tax rate: 2.52%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Mulberry Grove, IL home value: $34,928
Median annual Mulberry Grove, IL tax bill: $799, $1,601 lower than the national median property tax bill of $2,400.

How are property taxes in Bond County calculated?

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

Last Updated March 1, 2025

Mulberry Grove, Bond County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.52%

Estimate Property Tax Bill

$880

$817

Ownwell’s Mulberry Grove Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mulberry Grove with just two data points. By entering your property's estimated assessed value, our calculator applies Mulberry Grove’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 Bond County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Mulberry Grove, Bond County, Illinois

Local government entities set tax rates, which can vary widely within Illinois. 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 Mulberry Grove’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Mulberry Grove in Bond County stands out with a median property tax rate of 2.52%, significantly higher than the national median of 1.02%. This places a heavier burden on homeowners compared to the national average. The property tax rate in Mulberry Grove is among the highest in Illinois, with the same rate applying across the 62262 zip code. Understanding how these rates compare can help homeowners make informed decisions about property investments and financial planning in the area.

Property Tax Rates Across Mulberry Grove, Bond County, Illinois

Source: Ownwell

2.10%

2.47%

2.84%

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 Mulberry Grove Tax Rate

2.52%

Median Effective Bond County Tax Rate

2.52%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Mulberry Grove, Bond County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62262	1.35%	1.98%	2.52%	2.80%	3.12%

Source: Ownwell

Property Tax Assessment Values Across Mulberry Grove, Bond County, Illinois

When examining property taxes in Mulberry Grove, 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 Bond 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 Bond County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Mulberry Grove. For example, the median home price in Mulberry Grove is $34,928, with tax bills ranging significantly across the county. 62262 has the highest median home price at $34,928.

Property Tax Assessment Values Across Mulberry Grove, Bond County, Illinois

Source: Ownwell

$34,928

$51,711

$68,493

Median Mulberry Grove Market Value

$34,928

Median Bond County Market Value

$56,846

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Mulberry Grove, Bond County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62262	$3,755	$16,432	$34,928	$81,950	$123,241

Source: Ownwell

Property Tax Bills Across Mulberry Grove, Bond County, Illinois

In Mulberry Grove, located in Bond County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Local tax rates are then applied to this assessed value to determine the annual tax bill. Homeowners in Mulberry Grove face a median property tax bill of $799, which is significantly lower than the national median of $2,400. However, tax bills can vary widely, with some paying as little as $369 and others up to $2,806, depending on their property's assessed value and applicable exemptions. Homeowners may feel the financial impact of these taxes, especially if their property's assessed value increases. Ownwell offers valuable assistance in this area by providing property tax appeal and exemption services. By reviewing assessments and identifying potential errors or overlooked exemptions, Ownwell helps homeowners lower their tax bills, ensuring they pay only what is necessary. This can lead to significant savings and alleviate some of the financial burdens associated with homeownership.

Property Tax Bills Across Mulberry Grove, Bond County, Illinois

Source: Ownwell

$776

$1,253

$1,730

Median Mulberry Grove Tax Bill

$799

Median Bond County Tax Bill

$1,285

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Mulberry Grove, Bond County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62262	$86	$369	$799	$2,016	$2,806

Source: Ownwell