At what rate is my property assessed?
Where do my property taxes go?
How do I know if the Assessor has placed a fair value on
What can I do if I think my assessment is unfair?
Will I be notified if my assessment is going to be
When I get my tax bill is it too late to complain?
How is farmland assessed?
Will my taxes increase if I install a pool?
What will happen if I don't pay my property taxes?
1. At what rate is my property assessed?
Madison County assesses all non-farmland real estate at
33.33% (or 1/3) of its market value.
2. Where do my property taxes go?
Click here to see the breakdown of Madison County taxes
(in Adobe Acrobat PDF format).
3. How do I know if the Assessor
has placed a fair value on my property?
For tax purposes, the legal assessment level of
non-agricultural property in any county except Cook is 33
1/3 percent of its market value. To determine whether your
assessment is fair, you must have three items of
information. First, you must know the market value of your
property. This is defined as the most probable sale price of
a property in a competitive and open market, assuming that
the buyer and seller are acting prudently and knowledgeably,
allowing sufficient time for the sale, and assuming that the
transaction is not affected by undue pressures. Second, you
need to know the assessed value of your property. Third, you
need to know the average percentage of the market value at
which similar properties in your area are assessed. With
this information you will be able to determine the
percentage of full value at which your property is assessed
should be similar to the percentage of other properties in
your county. Farmland and farm related buildings are
assessed in a special way.
4. What can I do if I think my assessment is unfair?
There are eight steps to appealing your assessment.
Click the menu item "How to Appeal" above for more
5. Will I be notified if my assessment is going to be
Yes. Any changes in real estate assessments must be
published in a newspaper of general circulation in the
county every year. Every four years, when all property is
reassessed, a complete list of assessments will be
published. In addition, taxpayers generally receive a notice
of any change in their assessment from the prior year.
6. When I get my tax bill is it too late to complain?
Generally, yes, it is too late unless you have already
taken your complaint to the County Board of Review. In
Madison County the deadline is September 10th. If assessment
books are late in being submitted to a Board of Review,
taxpayers may file complaints within thirty days after the
official publication made by the Supervisor of Assessments
listing changes of assessment. Taxpayers dissatisfied with
the Board of Review's decision may file an appeal with the
State Property Tax Appeal Board within thirty days after
written notice of the Board of Review's decision. These
deadlines are very important for taxpayers who want their
7. How is farmland assessed?
The preferential farmland assessment applies to tracts of
farm property that have met the definition of a farm for the
previous two years. To be a farm, a tract's sole use must be
farm as defined under 35 ILCS (Illinois Complied Statutes)
200/1-60 (formerly Chapter 120, par. 482). The law does not
apply to parcels that are primarily used for residential
purposes. Farmland in Illinois is assessed for property tax
purposes on the basis of its agricultural economic value.
This value, commonly referred to as use-value, is based upon
land use under average level management, relative
productivity of soils, and the present worth of the net
income accruing to the land from farm production. Farm
buildings are assessed at one-third of their contributory
value to the farm and are not subject to state equalization
factors. Farm home sites and dwellings are to be assessed
like non- farmland at 33 1/3 percent of market value and are
subject to state equalization factors.
8. Will my taxes increase if I install a swimming pool?
If you install an above-ground pool, your property taxes
will not increase. If you install an in-ground pool, your
property taxes will increase.
9. What will happen if I don't pay my property taxes?
If you do not pay your property taxes by the due date, you
will by assessed penalties of 1.5% per month for each month
you do not pay. If you do not pay your property taxes by the
last day to pay as indicated on your tax bill, your taxes
(not your property) will be offered for sale at the tax sale
on the Monday after the last day to pay. You will then be
assessed additional fees of $95 plus up to 18% interest of
your unpaid balance. In most cases, you have two years to
redeem your taxes before the tax buyer can pursue taking
deed to your property. This period may be extended by filing
for an extension with the County Clerk's Office. Please
contact the County Clerk's Office at (618) 692-6290 for specific
rules on the period to redeem your taxes and how to file for