62695 Property Tax Rate

Property owners in ZIP code 62695 (Woodson, Illinois) pay a median of $2,238/year in property taxes on homes valued at $118,000. This translates to an effective tax rate of 1.90%, which is near the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62695 is approximately $187, which factors into escrow payments on mortgages. This ZIP code is located within Morgan County. This is $1,263 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62695 has lower property taxes. ZIP codes with similar effective rates include 62621 (1.90%) and 62824 (1.90%).

In Woodson, property taxes represent approximately 3.2% of the median household income of $69,091, providing context for the relative tax burden on homeowners in this area.

Illinois limits assessed value increases to 7% per year, though reassessment to market value at sale applies under state law. Morgan County offers a $10,000 General Homestead Exemption — submit your application to the Morgan County Assessor within 30 days of purchase to lower your assessed value. Request a copy of your assessment from the Morgan County Assessor to verify the exemption reduced your base by $10,000.