Average Tax Assessment in Menard County
Real Estate Values and Property Tax Valuation in Menard County, Illinois
Menard County has a total of 588 properties with a cumulative value of $65.0M. This accounts for 0.009% of all real estate value in Illinois. The average property tax rate in Menard County is 2.35%, which is lower than the state average of 2.47%. Property taxes in Menard County totaled $1.5M, with the average homeowner paying $2,616 in property taxes compared to the state average of $5,405. Property taxes are calculated based on the assessed value of the property.
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 | |
|---|---|
| Menard Appraisal District | (325) 396-4784 |
| TexasFile Clerk Records | - |
| Menard Recorder of Deeds | (217) 632-3201 |
| Menard Treasurer | (217) 632-2333 |
| 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 Menard County
Residential Property Taxes by Cities in Menard County
Menard County has an average property tax rate of 2.35%, which is slightly higher than the state average of 2.30%. This means that the average Menard County property tax bill is $2,616, which is slightly higher than the state average of $2,567. The city with the highest effective property tax rate is Petersburg, with a rate of 2.77%. On the other hand, the city with the lowest effective property tax rate is Tallula, with a rate of 1.90%.
Overall, Menard County has slightly higher property tax rates than the state average, but there is still a wide range of rates across the cities. Petersburg has the highest effective property tax rate, while Tallula has the lowest. This means that property owners in Menard County should be aware of the rates in their city and compare them to the state average to make sure they are getting the best deal.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Menard 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.
We currently do not have this data but we are working to add this soon.
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Menard County.
We currently do not have this data but we are working to add this soon.
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.
We currently do not have this data but we are working to add this soon.
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Real Estate Values in Menard County
The data from Redfin shows that home prices in Menard County, Illinois have decreased significantly from October 2022 to October 2023. The median home price in October 2023 was $100.0K, which is a decrease of 37.49% from the median home price in October 2022 of $159.9K. Additionally, the home inventory in Menard County has increased from 21 in October 2022 to 31 in October 2023. This indicates that there is an increase in the number of homes available for sale in Menard County, which could be contributing to the decrease in home prices. Overall, the data from Redfin suggests that home prices in Menard County, Illinois have decreased significantly from October 2022 to October 2023.
Average Home Value in Menard County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Menard County
Last updated: November 2023
Percent Change in New Home Listings in Menard County
Last updated: November 2023
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Mortgage Rates in Menard County
Menard County has a total of $4.4M in outstanding home mortgage loans. This represents 7 loans in total, which is a relatively small number compared to the total number of homes in the county. The median mortgage rate in Menard County is slightly higher than the national average, but there is a significant variation in rates across the county. For example, the city with the highest median mortgage rate is significantly higher than the city with the lowest median mortgage rate. This variation in rates can have a significant impact on the total cost of a loan, so it is important for potential homebuyers to shop around and compare rates before making a decision.
In terms of total home value, the outstanding loan amount in Menard County is relatively low. This means that the majority of homes in the county are owned outright, without any mortgage debt. This is a positive sign for the local economy, as it indicates that homeowners are able to pay off their mortgages in a timely manner. Additionally, the variation in rates across the county can help potential homebuyers find the best deal for their needs. Overall, mortgages in Menard County are a viable option for potential homebuyers, and the county offers a variety of rates and loan amounts to suit different needs.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Menard County by city.
We currently do not have this data but we are working to add this soon.
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Menard County.
We currently do not have this data but we are working to add this soon.
Housing Expenses in Menard County, Illinois
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