Real Estate Values and Property Tax Valuation in McDonough County, Illinois

McDonough County has a total of 423 properties with a cumulative value of $21.8M. This accounts for 0.003% of all real estate value in Illinois. Property taxes in McDonough County totaled $769.3K, with the average homeowner paying $1,827 in property taxes compared to the state average of $5,405. The average property tax rate in McDonough County is 3.53%, while the state average is 2.47%. Property taxes are based on the assessed value of the property, which is determined by the local assessor.

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.

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
SeniorAvailable
DisabledAvailable
HomesteadAvailable
VeteranAvailable
Solar/WindAvailable
CharitableAvailable

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Real Estate Statistics in McDonough County

Total Real Estate Value
$21.8M
Total Real Property Taxes
$769.3K
Average Property Tax Rate
3.53%
# of Real Properties
423

Residential Property Taxes by Cities in McDonough County

McDonough County has an average property tax rate of 3.53%, which is slightly lower than the state average of 3.75%. This rate is applied to the assessed value of a property to calculate the total property tax bill. The average McDonough County property tax bill is estimated to be $1,827. Property tax rates can vary significantly across the cities in the county. Macomb has the highest effective property tax rate of 3.66%, while other cities in the county have lower rates. For example, Colchester has an effective property tax rate of 3.45%, while Blandinsville has a rate of 3.30%. Property owners in McDonough County should be aware of the differences in property tax rates across the cities in the county in order to make informed decisions when purchasing a property.

Tax Assessment Value

The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in McDonough 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.

City10th Percentile25th PercentileMedian75th Percentile90th Percentile
Macomb$19,375$30,321$40,635$60,477$92,892

Property Tax Bill

This table shows the percentiles of actual property tax paid on residential properties for each city in McDonough County.

City10th Percentile25th PercentileMedian75th Percentile90th Percentile
Macomb$669$1,123$1,517$2,228$3,346

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.

City10th Percentile25th PercentileMedian75th Percentile90th Percentile
Macomb 3.45% 3.70% 3.73% 3.68% 3.60%

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Real Estate Values in McDonough County

The median home price in McDonough County, Illinois has seen a dramatic increase of 260% from October 2022 to October 2023, rising from $45.0K to $162.0K. This is indicative of a strong housing market in the area, as the demand for homes has outpaced the supply. The home inventory in McDonough County has decreased from 101 in October 2022 to 74 in October 2023, further indicating a strong housing market.

Median Sale Value
$162.0K
Total Active Listings
74
Annual percent change in median sale price
260.00%

Average Home Value in McDonough County, Illinois

Last updated: November 2023

Percent Change in Total Home Sales in McDonough County

Last updated: November 2023

Percent Change in New Home Listings in McDonough County

Last updated: November 2023

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Ownwell will evaluate your property tax assessment, build a case, and file an appeal. With our Savings-or-Free guarantee, only pay 25% of your property tax bill savings!

Mortgage Rates in McDonough County

Mortgages in McDonough County are a major part of the local economy. As of 2021, there is a total of $38.3 million in outstanding loan amounts across home mortgages in the county. This amount is equivalent to 104 outstanding loans, which is a significant portion of the total home value in the area.

The median mortgage rate in McDonough County varies across cities. Macomb has the highest median mortgage rate at 4.25%, while other cities may have lower rates. This variation in rates across counties can be beneficial for those looking to purchase a home in the area, as it allows them to compare rates and find the best deal for their needs. Overall, mortgages in McDonough County are an important part of the local economy and provide a variety of options for those looking to purchase a home.

# of Outstanding Loans
104
Total Outstanding Loan Amount
$38.3M
Properties with Loans
24.59%

Outstanding Mortgages

The table below shows the percentile distribution of outstanding loans on residential properties in McDonough County by city.

City10th Percentile25th PercentileMedian75th Percentile90th Percentile
Macomb$11,249$27,056$61,180$132,390$1,261,481

Mortgage Rates

The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across McDonough County.

City10th Percentile25th PercentileMedian75th Percentile90th Percentile
Macomb 2.70% 3.40% 4.25% 5.69% 6.49%

Housing Expenses in McDonough County, Illinois

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How Ownwell works?

  1. Enter your property address and get an instant estimate of your potential tax savings based on local market data and our historical tax savings in your area.
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  4. When we save you money our fee is just 25% of your savings. If you don't save, you don't pay. We will continue to monitor your property taxes every year to ensure that you never overpay or have to worry about your property taxes again.

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Frequently asked questions

We currently operate in Texas, California, Washington, Georgia, Florida and Illinois.
We use a private national data provider that cross-references with county recorder's offices to verify ownership. If in the event our system is unable to verify the property, our team will take further steps to investigate ownership and reach out to the customer for confirmation.
Our success rate varies across geographies; however, in any given year, we typically win more than 70% of our cases, saving clients an average of $1,457 on their property taxes.
Yes, in the market areas we serve, we have a dedicated Property Tax Consultant that is physically present in the market they are servicing. The specialist assigned to your property has the necessary geographical competence to provide exemplary service!
The average property tax rate in McDonough County is 3.53%.
The following exemptions and discounts are available in McDonough County: Charitable, Disabled, Homestead and Senior

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