62305 Property Tax Rate

Property owners in ZIP code 62305 (Quincy, Illinois) pay a median of $3,448/year in property taxes on homes valued at $203,500. This translates to an effective tax rate of 1.69%, which is 10% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62305 is approximately $287, which factors into escrow payments on mortgages. This ZIP code is located within Adams County.

Compared to similar ZIP codes in Illinois, 62305 has lower property taxes. ZIP codes with similar effective rates include 61319 (1.69%) and 62557 (1.69%).

In Quincy, property taxes represent approximately 4.3% of the median household income of $80,918, providing context for the relative tax burden on homeowners in this area.

Illinois's 7% annual cap on assessed value increases ensures your property tax grows predictably and cannot spiral upward with market trends. Adams County's General Homestead Exemption ($10,000 assessed value reduction) cuts taxes by approximately $156–$312 per year for owner-occupied homes. Register your homestead exemption with the Adams County Assessor's office within one month of closing to secure this tax break.