62985 Property Tax Rate

Property owners in ZIP code 62985 (Simpson, Illinois) pay a median of $1,472/year in property taxes on homes valued at $156,300. This translates to an effective tax rate of 0.94%, which is 50% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62985 is approximately $123, which factors into escrow payments on mortgages. This ZIP code is located within Pope County. This is $2,029 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62985 has higher property taxes. ZIP codes with similar effective rates include 61470 (0.93%) and 62380 (0.93%).

In Simpson, property taxes represent approximately 2.1% of the median household income of $69,750, providing context for the relative tax burden on homeowners in this area.

Illinois law caps assessed value growth at 7% annually for residential properties, though Pope County assessors reassess at market value at the time of sale. The General Homestead Exemption provides $10,000 off assessed value for owner-occupied homes — file with the Pope County Assessor's office in the year of purchase. Contact the Pope County Assessor immediately after closing to confirm your exemption application and verify your new assessed value.