62806 Property Tax Rate

Property owners in ZIP code 62806 (Albion, Illinois) pay a median of $1,692/year in property taxes on homes valued at $113,500. This translates to an effective tax rate of 1.49%, which is 21% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62806 is approximately $141, which factors into escrow payments on mortgages. This ZIP code is located within Edwards County. This is $1,809 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62806 has lower property taxes. ZIP codes with similar effective rates include 61545 (1.49%) and 62074 (1.49%).

In Albion, property taxes represent approximately 2.6% of the median household income of $64,356, providing context for the relative tax burden on homeowners in this area.

Illinois limits annual assessed value increases to 7%, though reassessment to market value occurs at sale under state law. Edwards County residents qualify for a $10,000 General Homestead Exemption — apply through the Edwards County Assessor's office within 30 days of purchase to reduce your taxable base. Verify your exemption eligibility with the Edwards County Assessor and request a homestead certification letter for your records.