62288 Property Tax Rate

Property owners in ZIP code 62288 (Steeleville, Illinois) pay a median of $2,020/year in property taxes on homes valued at $166,600. This translates to an effective tax rate of 1.21%, which is 35% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62288 is approximately $168, which factors into escrow payments on mortgages. This ZIP code is located within Randolph County. This is $1,481 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62288 has higher property taxes. ZIP codes with similar effective rates include 62953 (1.21%) and 62006 (1.21%).

In Steeleville, property taxes represent approximately 2.9% of the median household income of $69,500, 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.