Morrisonville, Montgomery County, Illinois Property Taxes

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

Median Morrisonville, IL effective property tax rate: 2.48%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median Morrisonville, IL home value: $150,344. Median annual Morrisonville, IL tax bill: $3,936, $1,536 higher than the national median property tax bill of $2,400.

How are property taxes in Montgomery calculated?

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

Last Updated March 1, 2025

Morrisonville, Montgomery County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.48%

Estimate Property Tax Bill

$3,729

$3,460

Ownwell’s Morrisonville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Morrisonville with just two data points. By entering your property's estimated assessed value, our calculator applies Morrisonville’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 Morrisonville, Montgomery 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, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process.

Morrisonville in Montgomery County, Illinois, has an effective property tax rate of 2.48%, which is significantly higher than the national median rate of 1.02%. This places a notable financial burden on property owners compared to other regions. The median property tax bill in Morrisonville also surpasses the national median of $2,400, reflecting the higher rate. In Illinois, property tax rates can vary, but Morrisonville's rate is among the highest in the state. Understanding these differences is crucial for property owners considering a tax appeal or exemption. By comparing Morrisonville's effective property tax rate to other cities in Illinois and the U.S., property owners can better assess their situation and explore opportunities for savings.

Property Tax Rates Across Morrisonville, Montgomery County, Illinois

Source: Ownwell

2.05%

2.39%

2.72%

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 Morrisonville Tax Rate

2.48%

Median Effective Montgomery County Tax Rate

2.46%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Morrisonville, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62546	2.09%	2.32%	2.48%	2.66%	2.96%

Source: Ownwell

Property Tax Assessment Values Across Morrisonville, Montgomery County, Illinois

When examining property taxes in Morrisonville, 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 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 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 Morrisonville. For example, the median home price in Morrisonville is $150,344, with tax bills ranging significantly across the county. 62546 has the highest median home price at $150,344.

Property Tax Assessment Values Across Morrisonville, Montgomery County, Illinois

Source: Ownwell

$80,096

$125,436

$170,775

Median Morrisonville Market Value

$150,344

Median Montgomery County Market Value

$105,765

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Morrisonville, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62546	$76,250	$110,899	$150,344	$214,188	$251,595

Source: Ownwell

Property Tax Bills Across Morrisonville, Montgomery County, Illinois

In Morrisonville, Montgomery County, IL, property tax bills are calculated based on the assessed value of a home, typically a percentage of its market value. With a median home price of $150,344, homeowners in Morrisonville face property tax bills that often exceed the national median of $2,400. The 25th percentile tax bill stands at $2,693, while the 75th percentile reaches $4,841, and the 90th percentile soars to $6,732. These figures highlight the significant financial burden property taxes can impose on homeowners. Several factors, including local tax rates, the assessed value of the property, and any applicable exemptions, influence the final tax bill. Homeowners may feel the pinch, especially when compared to the national median property tax rate of 1.02%. Fortunately, Ownwell offers valuable assistance in reducing property tax bills. By providing expert property tax appeal and exemption services, Ownwell helps homeowners in Morrisonville navigate the complexities of property tax assessments, ensuring they pay only their fair share and potentially saving them hundreds or even thousands of dollars annually.

Property Tax Bills Across Morrisonville, Montgomery County, Illinois

Source: Ownwell

$1,498

$3,096

$4,694

Median Morrisonville Tax Bill

$3,936

Median Montgomery County Tax Bill

$2,523

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Morrisonville, Montgomery County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62546	$1,756	$2,693	$3,936	$4,841	$6,732

Source: Ownwell