Average Tax Assessment in Massac County
Real Estate Values and Property Tax Valuation in Massac County, Illinois
Massac County has 1,081 properties with a cumulative value of $74.7M, representing 0.01% of all real estate value in Illinois. Property taxes in Massac County totaled $2.3M, with an average homeowner paying $2,274 in property taxes, which is lower than the state average of $5,405. The average property tax rate in Massac County is 3.10%, higher 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.
Updated November 01, 2023
| Important Links | |
|---|---|
| Massac Assessor | (618) 524-9632 |
| Massac Treasurer | (618) 524-5121 |
| 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 Massac County
Residential Property Taxes by Cities in Massac County
Massac County has an average property tax rate of 3.10%, which is slightly higher than the national average of 2.79%. This rate is applied to all properties in the county, regardless of location. However, the effective property tax rate can vary significantly across cities in Massac County. For example, the city of Metropolis has an effective property tax rate of 2.56%, which is significantly lower than the county average. This means that property owners in Metropolis pay less in taxes than those in other cities in the county.
Overall, Massac County has a slightly higher property tax rate than the national average, but the effective rate can vary significantly across cities. Property owners in Metropolis pay the lowest effective rate, while those in other cities may pay more. It is important for property owners to research the effective tax rate in their city before making any decisions about buying or selling property.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Massac 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 |
|---|---|---|---|---|---|
| Metropolis | $8,070 | $19,380 | $55,155 | $103,275 | $153,495 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Massac County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Metropolis | $155 | $501 | $1,447 | $2,838 | $4,259 |
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.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Metropolis | 1.92% | 2.59% | 2.62% | 2.75% | 2.77% |
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Real Estate Values in Massac County
The median home price in Massac County, Illinois has remained unchanged from October 2022 to October 2023, at $32.5K. However, the home inventory in Massac County has decreased from 50 in October 2022 to 35 in October 2023, indicating a decrease in the availability of homes for sale in the area. This could be indicative of a seller's market, where demand for homes is higher than the supply.
Average Home Value in Massac County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Massac County
Last updated: November 2023
Percent Change in New Home Listings in Massac County
Last updated: November 2023
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Mortgage Rates in Massac County
Mortgages in Massac County are a significant part of the local economy, with a total of 91 outstanding loans totaling $9.3 million. This represents a significant portion of the total home value in the county, and is indicative of the importance of home ownership in the area.
The median mortgage rate in Massac County varies across cities, with the highest rate in Metropolis at 4.37%. This rate is slightly higher than the national average, but still relatively low compared to other areas. This variation in rates across counties is indicative of the competitive nature of the mortgage market, and provides an opportunity for potential homeowners to find the best deal for their needs.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Massac County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Metropolis | $20,133 | $45,297 | $82,864 | $152,866 | $175,742 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Massac County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Metropolis | 3.45% | 3.90% | 4.37% | 4.95% | 5.50% |
Housing Expenses in Massac County, Illinois
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