62357 Property Tax Rate

Property owners in ZIP code 62357 (New Salem, Illinois) pay a median of $2,000/year in property taxes on homes valued at $131,700. This translates to an effective tax rate of 1.52%, which is 19% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62357 is approximately $167, which factors into escrow payments on mortgages. This ZIP code is located within Pike County. This is $1,501 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62357 has higher property taxes. ZIP codes with similar effective rates include 62080 (1.52%) and 61723 (1.52%).

In New Salem, property taxes represent approximately 3.4% of the median household income of $59,375, providing context for the relative tax burden on homeowners in this area.

Illinois caps assessed value growth at 7% annually, protecting homeowners from tax bills that spike faster than their income. Pike County offers the General Homestead Exemption ($10,000 off assessed value), which typically saves homeowners $154–$308 per year. File your exemption claim with the Pike County Assessor within 30 days of your purchase to ensure it applies to your first bill.