Average Tax Assessment in Morgan County
Real Estate Values and Property Tax Valuation in Morgan County, Illinois
Morgan County has 336 properties with a cumulative value of $21.0M, representing 0.003% of all real estate value in Illinois. Property taxes in Morgan County totaled $546.4K, with an average homeowner paying $1,692 in property taxes compared to the state average of $5,405. The average property tax rate in Morgan County is 2.60%, slightly higher than the state average of 2.47%. Property taxes are calculated 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 | |
|---|---|
| Morgan Clerk | (304) 258-8547 |
| Morgan Recorder | (970) 542-3521 |
| Morgan Treasurer | (801) 845-4030 |
| Morgan Revenue Commission | (256) 351-4690 |
| 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 Morgan County
Residential Property Taxes by Cities in Morgan County
Morgan County has an average property tax rate of 2.60%, which is slightly lower than the average rate for the state of Georgia. This rate is applied to the assessed value of a property to calculate the total amount of taxes due. Property taxes in Morgan County are collected by the county government and are used to fund local services such as schools, roads, and public safety.
Property tax rates in Morgan County vary across cities, with some cities having higher effective property tax rates than others. For example, the city with the highest effective property tax rate is Madison, with a rate of 3.50%, while the city with the lowest effective property tax rate is Rutledge, with a rate of 1.90%. Property owners in Morgan County should be aware of the differences in property tax rates across cities when considering where to purchase a home.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Morgan 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 Morgan 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 Morgan County
The data from Redfin shows that the median home price in Morgan County, Illinois has increased by 21.43% from October 2022 to October 2023. This indicates that the housing market in Morgan County is strong and that home prices are on the rise. Additionally, the home inventory in Morgan County has decreased from 53 in October 2022 to 37 in October 2023, suggesting that demand for housing is high and that homes are selling quickly.
Average Home Value in Morgan County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Morgan County
Last updated: November 2023
Percent Change in New Home Listings in Morgan County
Last updated: November 2023
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Mortgage Rates in Morgan County
Mortgages in Morgan County are a major source of financing for homeowners. According to recent statistics, there is a total of $13.2M in outstanding loan amounts across home mortgages in the county. This represents 83 outstanding loans, indicating that mortgages are a popular form of financing for homeowners in Morgan County.
The median mortgage rate in Morgan County varies across cities, with the highest median rate being in one city and the lowest median rate being in another. This indicates that there is a wide range of rates available to homeowners in the county, allowing them to choose the best rate for their financial situation. The total outstanding loan amount is also a significant percentage of the total home value in Morgan County, indicating that mortgages are a major source of financing for homeowners in the county.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Morgan 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 Morgan County.
We currently do not have this data but we are working to add this soon.
Housing Expenses in Morgan County, Illinois
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