Lebanon, Madison County, Illinois Property Taxes
Median Lebanon, IL effective property tax rate: 2.17%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Lebanon, IL home value: $422,958
Median annual Lebanon, IL tax bill: $9,114, $6,714 higher than the national median property tax bill of $2,400.
How are property taxes in Madison calculated?
Property taxes in Lebanon, 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 Lebanon’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lebanon, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lebanon, Madison County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.17%
Estimate Property Tax Bill
$9,178
$8,517
Property Tax Rates Across Lebanon, Madison County, Illinois
Local government entities in Illinois set tax rates, which can vary widely within the state. Each year, Madison County estimates its required budget for essential services and divides that by the total assessed value of all taxable property within its jurisdiction. This calculation results in the property tax rate, which is influenced by votes and laws but essentially follows this annual process.
Lebanon, located in Madison County, has an effective property tax rate that reflects these calculations. When compared to other cities in Illinois, Lebanon's property tax rate is notably higher than the national median property tax rate of 1.02%. Illinois itself has a median property tax rate of 2.17%, which is double the national median. This makes Illinois one of the states with the highest property tax rates in the country.
Understanding these rates can help property owners in Lebanon make informed decisions about their property tax appeals and exemptions. Comparing these rates to both the state and national medians provides valuable context for homeowners looking to manage their property tax obligations effectively.
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 Lebanon Tax Rate
2.17%
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
2.17%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lebanon, Madison County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62254 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Lebanon, Madison County, Illinois
When examining property taxes in Lebanon, 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 Madison 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 Madison 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 Lebanon.
For example, the median home price in Lebanon is $422,958, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Lebanon, Madison County, Illinois
Source: Ownwell
$19,910
$137,778
$255,646
Median Lebanon Market Value
$422,958
Median Madison County Market Value
$128,259
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lebanon, Madison County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62254 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Lebanon, Madison County, Illinois
In Lebanon, located in Madison County, IL, property tax bills are determined based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in Lebanon face a median property tax bill significantly higher than the national median of $2,400. The 25th percentile tax bill stands at $7,567, while the 75th percentile reaches $11,036, indicating a substantial range in tax liabilities. Several factors contribute to this, including local government budgets and the market value of properties. High property taxes can place a financial burden on homeowners, impacting their overall affordability and financial planning.
Ownwell offers a solution by helping homeowners navigate the complexities of property tax appeals and exemptions. By leveraging expertise and local knowledge, Ownwell can identify opportunities for reducing assessed values, ensuring homeowners are not overpaying. This can lead to significant savings, providing homeowners with financial relief and peace of mind. With Ownwell's assistance, homeowners in Lebanon can effectively manage their property tax obligations and potentially reduce their tax bills.
Median Lebanon Tax Bill
$9,114
Median Madison County Tax Bill
$2,705
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Lebanon, Madison County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62254 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell