Average Tax Assessment in Marion County
Real Estate Values and Property Tax Valuation in Marion County, Illinois
Marion County has a total of 3,422 properties with a cumulative value of $251.7M, representing 0.04% of all real estate value in Illinois. Property taxes in Marion County totaled $4.9M, with an average homeowner paying $1,440 in property taxes compared to the state average of $5,405. The average property tax rate in Marion County is 1.95%, lower than the state average of 2.47%. Properties are typically valued for tax purposes based on their estimated 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.
Updated November 01, 2023
| Important Links | |
|---|---|
| Marion Appraisal District | (903) 665-2519 |
| Marion Tax Office | (903) 665-3281 |
| TexasFile Clerk Records | - |
| Marion Treasurer | (317) 327-4444 |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Tax Appeal Deadline: | June - December or 30 days after notices are published |
| Property Tax Bills Issued: | February 1st and July 1st |
| Real Property Tax Bill Due (1st of #): | June, Two installments but due dates may vary by county March 1st, Cook County - 1st half installment, estimated at 55% of prior year tax bill with taxes paid in arrears. |
| Real Property Tax Bill Due (2nd of #): | September, Two installments but due dates may vary by county August 1, Cook County - 2nd half installment - TARGETED but may be delayed - due 30 days after being issued. Reconciled installment using the BOR certified AV, actual local tax rate, and final state equalization factor, less the estimated 1st installment with taxes paid in arrears |
| Available Exemptions | |
|---|---|
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Marion County
Residential Property Taxes by Cities in Marion County
Marion County has an average property tax rate of 1.95%, which is slightly lower than the state average of 2.06%. This rate applies to all properties in the county, regardless of location. However, there is some variation in effective property tax rates across the cities in Marion County. The city with the highest effective property tax rate is Sandoval, at 2.46%, while the city with the lowest effective property tax rate is Odin, at 1.81%. This means that property owners in Sandoval will pay more in property taxes than those in Odin.
Overall, Marion County has a relatively low property tax rate compared to the rest of the state. This makes it an attractive option for those looking to purchase property in the area. However, it is important to keep in mind that the effective property tax rate can vary significantly from city to city, so it is important to research the rates in the area before making a purchase.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Marion County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Centralia | $3,378 | $9,600 | $27,600 | $74,085 | $155,554 |
| Iuka | $19,272 | $37,650 | $74,760 | $126,711 | $177,311 |
| Kinmundy | $10,870 | $25,965 | $50,520 | $107,682 | $159,199 |
| Odin | $3,270 | $9,630 | $35,340 | $105,660 | $170,616 |
| Salem | $7,080 | $17,160 | $47,460 | $122,307 | $211,471 |
| Sandoval | $4,380 | $10,860 | $23,685 | $47,295 | $106,481 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Marion County.
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
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Real Estate Values in Marion County
The median home price in Marion County, Illinois decreased by 3.47% from October 2022 to October 2023, from $88.0K to $85.0K. This decrease in home prices was accompanied by a decrease in home inventory, from 119 in October 2022 to 89 in October 2023. This suggests that the housing market in Marion County is becoming more competitive, with fewer homes available for sale and lower prices.
Average Home Value in Marion County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Marion County
Last updated: November 2023
Percent Change in New Home Listings in Marion County
Last updated: November 2023
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Mortgage Rates in Marion County
Mortgages in Marion County are a major part of the local economy. According to recent statistics, there is a total of $41.2M in outstanding loan amounts across home mortgages in the county. This represents 411 outstanding loans, which is a significant amount of money for the area. The median mortgage rate in Marion County varies across cities, with Sandoval having the highest rate at 4.92% and Kinmundy having the lowest rate at 4%. This variation in rates across counties can make a significant difference in the total amount of money that a homeowner will pay over the life of the loan. On average, the total amount of money paid for a mortgage in Marion County is approximately 80% of the total home value. This is a significant amount of money, and it is important for potential homeowners to consider the various mortgage rates available in the area before making a decision.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Marion County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Centralia | $26,844 | $37,622 | $90,226 | $186,616 | $234,478 |
| Iuka | $20,611 | $57,451 | $104,615 | $176,876 | $240,039 |
| Kinmundy | $11,498 | $17,450 | $45,534 | $121,129 | $197,666 |
| Odin | $19,118 | $49,489 | $91,507 | $165,137 | $236,093 |
| Salem | $14,796 | $31,856 | $82,909 | $129,351 | $184,909 |
| Sandoval | $11,276 | $19,979 | $41,638 | $74,458 | $101,231 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Marion County.
Housing Expenses in Marion County, Illinois
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