62898 Property Tax Rate

Property owners in ZIP code 62898 (Woodlawn, Illinois) pay a median of $2,391/year in property taxes on homes valued at $150,000. This translates to an effective tax rate of 1.59%, which is 15% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62898 is approximately $199, which factors into escrow payments on mortgages. This ZIP code is located within Jefferson County. This is $1,110 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62898 has higher property taxes. ZIP codes with similar effective rates include 62446 (1.59%) and 62922 (1.59%).

In Woodlawn, property taxes represent approximately 3.2% of the median household income of $74,297, providing context for the relative tax burden on homeowners in this area.

Illinois caps assessed value growth at 7% annually, but reassessment to market value occurs at sale under state law. Jefferson County's $10,000 General Homestead Exemption applies to owner-occupants — file immediately with the Jefferson County Assessor after closing to reduce your taxable base. Request a certified copy of your exemption filing from the Jefferson County Assessor for your closing documents.