62870 Property Tax Rate

Property owners in ZIP code 62870 (Odin, Illinois) pay a median of $1,891/year in property taxes on homes valued at $126,600. This translates to an effective tax rate of 1.49%, which is 20% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62870 is approximately $158, which factors into escrow payments on mortgages. This ZIP code is located within Marion County. This is $1,610 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62870 has lower property taxes. ZIP codes with similar effective rates include 62375 (1.49%) and 62809 (1.49%).

In Odin, property taxes represent approximately 3.2% of the median household income of $59,188, providing context for the relative tax burden on homeowners in this area.

Illinois limits annual assessed value increases to 7%, though full reassessment to market value at sale applies under state law. Marion County residents can claim a $10,000 General Homestead Exemption — submit your application to the Marion County Assessor within 30 days of purchase. Check your property record with the Marion County Assessor's office to confirm the exemption reduces your assessed value for tax year following purchase.