Average Tax Assessment in Greene County

Greene County has a total of 4,705 properties with a cumulative value of $332.2M, representing 0.05% of all real estate value in Illinois. The county collected $5.7M in property taxes across these properties, with an average homeowner paying $1,289 in property taxes compared to the state average of $5,405. The average property tax rate in Greene County is 1.72%, lower than the state average of 2.47%. Property taxes are based on the assessed value of the property, which is typically lower than the market value.

In Illinois, property taxes are based on the value of the property as of January 1st. Property owners have the option to appeal their property taxes between June and December, or within 30 days of when the notices are published. Property tax bills are issued on February 1st and July 1st, with the first installment due on June 1st in Cook County. This first installment is estimated at 55% of the prior year's tax bill, with taxes paid in arrears.

Greene County has an average property tax rate of 1.72%, which is slightly lower than the state average of 1.77%. Property taxes in Greene County are collected from all of the cities and towns within the county. The city with the highest effective property tax rate is Roodhouse, at 1.85%, while the city with the lowest effective property tax rate is Greenfield, at 1.76%. This means that property owners in Roodhouse will pay slightly more in taxes than those in Greenfield.

Overall, property taxes in Greene County are relatively low compared to other counties in the state. The average property tax bill in Greene County is estimated to be around $1,289, which is lower than the state average of $1,541. This makes Greene County an attractive option for those looking to purchase property in the area. However, it is important to note that property tax rates can vary significantly from city to city, so it is important to research the rates in the area before making a purchase.

The median home price in Greene County, Illinois has remained steady at $213.5K from October 2022 to October 2023. However, the home inventory in Greene County has decreased from 17 in October 2022 to 9 in October 2023, indicating a decrease in the availability of homes for sale in the area. This decrease in inventory could be driving up prices in the area, as buyers compete for fewer available homes.

Mortgages in Greene County are a major source of financing for homeowners. According to recent statistics, there is a total of $951.8K in outstanding loan amounts across home mortgages in the county. This represents 24 outstanding loans, which is a relatively small number compared to other counties. The median mortgage rate in Greene County varies significantly across cities, with White Hall having the highest rate of 6.12% and Greenfield having the lowest rate of 4.28%. This variation in rates can have a significant impact on the total value of a home, as higher rates can lead to higher monthly payments and a higher total cost of the loan. Overall, mortgages in Greene County are an important source of financing for homeowners and the variation in rates across cities should be taken into consideration when making a decision about financing a home.