With an average property tax rate of 1.64% and a median home value of $197,400, Monroe County residents pay an average of $3,236 a year in property taxes.
Owning a home is a goal for many, but adding in the cost of yearly property taxes can be an added financial burden. Changing property values, combined with different tax rules from one county to the next, can make it difficult to understand our property tax obligations.
Property tax fundamentals
If you’re just learning about property taxes, here are the basics:
Your property taxes fund the necessary services your local government provides to residents of your community.
What is the property tax rate in Monroe County?
How Monroe County property taxes are determined
Counties in Illinois determine their own tax rates. Generally speaking, your tax bill is based on two factors—the equalized assessed value (EAV) of your property, and the county’s budget for the current year. Most property in Illinois is assessed at 33.33 % of the fair market value. Monroe County performs property assessments in four-year cycles.
What do Monroe County property taxes pay for?
Monroe County property tax revenues fund a variety of county and city services, such as:
How to pay property taxes in Monroe County
Monroe County property taxes are printed and mailed around August of each year.Tax payments are due in installments, with the first payment due September 24th and the second payment due November 5th.
Monroe County accepts payments online, in person, by phone, by mail, by drop box, and through participating banks.
Monroe County Treasurer/Collector
How to save money on homeowners and car insurance in Monroe County