Madison County Property Tax Rate
Illinois
Madison County, Illinois has an effective property tax rate of 1.92%, which is 109% higher than the national average of 0.92%. On a home valued at $173,000, homeowners pay approximately $3,319 per year in property taxes. Madison County ranks #40 out of 102 counties in Illinois for property tax rates.
$3,319
Per year
$173,000
2024 estimate
4.38%
Median income: $75,793
#40
of 102 counties in IL
Tax Breakdown
With Mortgage
$3,682
median annual tax
Without Mortgage
$2,789
median annual tax
Homeowners with a mortgage in Madison County pay on average $893 more per year than those without. This difference often reflects how property tax escrow accounts in mortgaged homes capture the full tax obligation.
How Madison County Compares
Top Counties in Illinois
Historical Property Tax Trends
| Year | Median Tax | Median Home Value | Effective Rate |
|---|---|---|---|
| 2020 | $2,791 | $138,500 | 2.02% |
| 2021 | $2,881 | $142,100 | 2.03% |
| 2022 | $3,117 | $159,400 | 1.96% |
| 2023 | $3,232 | $167,900 | 1.92% |
| 2024 | $3,319 | $173,000 | 1.92% |
Source: U.S. Census Bureau, American Community Survey 5-Year Estimates
Illinois Property Tax Exemptions
Available to Madison County homeowners
General Homestead
$10,000 reduction in EAV ($8,000 in Cook County)
Primary residence owners as of January 1
Senior Homestead
$8,000 reduction in EAV
Homeowners age 65+ who own and occupy as primary residence
Senior Assessment Freeze
Assessed value frozen at base year level (no increases)
Homeowners age 65+ with household income of $65,000 or less
Disabled Veteran
$2,500 for 30-49% disability; $5,000 for 50-69%; full exemption for 70%+ disability
Veterans with service-connected disability of 30% or more
Disability
$2,000 reduction in EAV
Homeowners who are disabled as defined by federal Social Security guidelines
Property Tax Calculator
Estimate your annual property tax in Madison County
Estimated Annual Property Tax
$5,760
$480/month · Rate: 1.92%
Nearby Counties
Quick Facts
Think your property tax is too high?
Homeowners save an average of $1,148/year by appealing their assessment.
Learn How to Appeal →Frequently Asked Questions
Data Source: U.S. Census Bureau, 2024 American Community Survey 5-Year Estimates. Effective tax rates are calculated by dividing median real estate taxes paid by median home value. Actual property tax rates may vary based on local taxing jurisdictions, exemptions, and assessment practices. This information is for general reference only and should not be used as a substitute for professional tax advice.