62241 Property Tax Rate

Property owners in ZIP code 62241 (Ellis Grove, Illinois) pay a median of $1,216/year in property taxes on homes valued at $135,800. This translates to an effective tax rate of 0.90%, which is 52% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62241 is approximately $101, which factors into escrow payments on mortgages. This ZIP code is located within Randolph County. This is $2,285 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62241 has lower property taxes. ZIP codes with similar effective rates include 62932 (0.91%) and 62882 (0.92%).

In Ellis Grove, property taxes represent approximately 1.5% of the median household income of $81,429, providing context for the relative tax burden on homeowners in this area.

Illinois's 7% annual cap on assessed value growth means your property tax can rise no more than 7% per year, even in a booming market. Randolph County homeowners qualify for the General Homestead Exemption ($10,000 assessed value reduction), which costs nothing to claim and yields roughly $150 in annual savings. Register your primary residence with the Randolph County Assessor immediately after closing to secure this exemption.