Gardner, Illinois Property Taxes
The median property tax rate in Gardner, IL, is 3.45%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Gardner at $118,839, the typical annual property tax bill reaches $3,517, surpassing the national median of $2,690. Property taxes in Gardner are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gardner's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Gardner or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gardner, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.45%
Estimate Property Tax Bill
$4,100
$4,006
Ownwell’s Gardner Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gardner with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gardner to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Gardner, Illinois
Property taxes in Gardner, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gardner is 3.45%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Gardner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gardner estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Gardner's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60424 zip code has the highest median property tax rate of 3.45%, while the same zip code also has the lowest median tax rate of 3.45%. Understanding how these cities compare with Gardner provides valuable insights into the varying tax landscape across Kankakee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gardner Tax Rate
3.45%
Average Kankakee County Tax Rate
3.07%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gardner, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60424 | 2.60% | 2.96% | 3.45% | 3.46% | 4.34% |
Source: Ownwell
Property Tax Assessment Values Across Gardner, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Gardner, Illinois. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Kankakee County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Gardner, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Gardner helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Gardner are both $3,517, found in zip code 60424.
Average Gardner Assessed Value
$118,839
Average Kankakee County Assessed Value
$137,616
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gardner, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60424 | $35,116 | $41,040 | $118,839 | $320,961 | $355,829 |
Source: Ownwell
Property Tax Bills Across Gardner, Illinois
In Gardner, IL, located in Kankakee County, property tax bills are determined based on the assessed value of a home, which is derived from the market value. The median home price in Gardner is $118,839, and property taxes are calculated by applying the local tax rate to this assessed value. The tax rate in Kankakee County can result in varied tax bills, with the 25th percentile tax bill at $1,419 and the 75th percentile at $7,590. Homeowners in Gardner could see tax bills as high as $14,259, placing a significant financial obligation on them. The national median property tax rate is 0.99%, and Gardner's rates can be compared to this benchmark to understand the local tax burden. Factors such as local government budgets, school funding requirements, and public services also influence the final tax bill. Homeowners in Gardner should be aware of these factors as they directly impact their annual property tax obligations, potentially affecting their financial planning and home affordability.
Average Gardner Tax Bill
$3,517
Average Kankakee County Tax Bill
$4,151
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Gardner, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60424 | $1,212 | $1,419 | $3,517 | $7,590 | $14,259 |
Source: Ownwell