Average Tax Assessment in Monroe County
Real Estate Values and Property Tax Valuation in Monroe County, Illinois
Monroe County has a total of 13,169 properties with a cumulative value of $2.9B. This represents 0.41% of all real estate value in Illinois. Property taxes in Monroe County totaled $53.4M, with an average homeowner paying $4,055 in property taxes compared to the state average of $5,405. The average property tax rate in Monroe County is 1.85%, 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.
Updated November 01, 2023
| Important Links | |
|---|---|
| Monroe Clerk | (304) 772-3096 |
| Monroe Recorder of Deeds | (570) 517-3969 |
| Monroe Tax Collector | (305) 295-5010 |
| Monroe Register of Deeds | (608) 269-8716 |
| 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 Monroe County
Residential Property Taxes by Cities in Monroe County
Monroe County has an average property tax rate of 1.85%, which is slightly lower than the national average of 1.89%. This rate is applied to the assessed value of a property to calculate the total property taxes due. Property taxes collected in Monroe County in 2023 totaled $53.4 million.
Property tax rates vary across the cities in Monroe County. Valmeyer has the highest effective property tax rate at 1.97%, while Red Bud has the lowest effective property tax rate at 1.55%. This means that property owners in Valmeyer will pay more in taxes than those in Red Bud. However, the average property tax bill in Monroe County is still relatively low at $4,055.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Monroe 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 |
|---|---|---|---|---|---|
| Columbia | $129,240 | $164,190 | $225,540 | $306,930 | $388,800 |
| Fults | $62,525 | $110,690 | $172,122 | $230,248 | $280,525 |
| Red Bud | $69,981 | $124,235 | $185,010 | $261,836 | $336,722 |
| Valmeyer | $56,724 | $112,024 | $146,760 | $169,882 | $198,516 |
| Waterloo | $111,252 | $154,500 | $210,390 | $270,240 | $334,344 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Monroe 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 Monroe County
The median home price in Monroe County, Illinois decreased by 1.11% from October 2022 to October 2023, from $320.0K to $316.4K. At the same time, the home inventory in Monroe County decreased from 79 in October 2022 to 69 in October 2023. This indicates that the housing market in Monroe County is becoming more competitive, as fewer homes are available for sale and prices are decreasing.
Average Home Value in Monroe County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Monroe County
Last updated: November 2023
Percent Change in New Home Listings in Monroe County
Last updated: November 2023
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Mortgage Rates in Monroe County
Mortgages in Monroe County are a major factor in the local economy. There is currently a total of $432.0M in outstanding loan amounts across home mortgages in the county. This is equivalent to 2.1K outstanding loans, representing a significant portion of the total home value in the area. The median mortgage rate in Monroe County varies across cities, with Fults having the highest median rate of 3.85%, and Columbia having the lowest median rate of 3.75%. This variation in rates across cities can have a significant impact on the affordability of mortgages in the area, and can be a deciding factor for potential home buyers.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Monroe County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Columbia | $106,756 | $143,434 | $196,810 | $269,309 | $338,480 |
| Fults | $94,282 | $124,120 | $180,396 | $258,534 | $325,868 |
| Red Bud | $78,323 | $150,375 | $186,935 | $265,758 | $331,010 |
| Valmeyer | $67,135 | $108,607 | $136,155 | $180,844 | $219,572 |
| Waterloo | $95,434 | $129,716 | $178,317 | $237,922 | $300,339 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Monroe County.
Housing Expenses in Monroe County, Illinois
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