Gifford, Champaign County, Illinois Property Taxes

Name: Property Tax Bills Across Gifford, Champaign County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Gifford, IL effective property tax rate: 2.23%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Gifford, IL home value: $151,710
Median annual Gifford, IL tax bill: $3,183, $783 higher than the national median property tax bill of $2,400.

How are property taxes in Champaign calculated?

Property taxes in Gifford, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Gifford’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Gifford, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Gifford, Champaign County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.23%

Estimate Property Tax Bill

$3,383

$3,139

Ownwell’s Gifford Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Gifford with just two data points. By entering your property's estimated assessed value, our calculator applies Gifford’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Champaign County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Gifford, Champaign County, Illinois

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Gifford’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Property Tax Rates Across Gifford, Champaign County, Illinois

Source: Ownwell

1.72%

2.45%

3.17%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Gifford Tax Rate

2.23%

Median Effective Champaign County Tax Rate

2.54%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Gifford, Champaign County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61847	1.63%	2.02%	2.23%	2.39%	2.62%

Source: Ownwell

Property Tax Assessment Values Across Gifford, Champaign County, Illinois

When examining property taxes in Gifford, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Champaign County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Champaign County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Gifford. For example, the median home price in Gifford is $151,710, with tax bills ranging significantly across the county. The zip code 61847 has the highest median home price at $151,710.

Property Tax Assessment Values Across Gifford, Champaign County, Illinois

Source: Ownwell

$64,275

$153,698

$243,120

Median Gifford Market Value

$151,710

Median Champaign County Market Value

$152,850

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Gifford, Champaign County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61847	$67,512	$105,990	$151,710	$204,540	$254,262

Source: Ownwell

Property Tax Bills Across Gifford, Champaign County, Illinois

In Gifford, located in Champaign County, IL, property tax bills are determined by assessing the market value of a property and applying the local tax rate. The median home price in this area is $151,710, with property tax bills ranging widely. At the 25th percentile, homeowners might pay around $2,137, while those at the 75th percentile could see bills as high as $4,601. For the top 10% of properties, tax bills can reach up to $5,780. These figures highlight a significant variance in tax burdens, influenced by property values and applicable tax rates. Compared to the national median property tax bill of $2,400, Gifford's tax bills can be considerably higher, especially for homes assessed at the upper end of the spectrum. Homeowners in Gifford can benefit from Ownwell’s expertise in property tax appeals. By reviewing assessments and identifying potential inaccuracies, Ownwell helps reduce tax liabilities, ensuring homeowners only pay their fair share.

Property Tax Bills Across Gifford, Champaign County, Illinois

Source: Ownwell

$1,191

$3,485

$5,778

Median Gifford Tax Bill

$3,183

Median Champaign County Tax Bill

$3,816

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Gifford, Champaign County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61847	$1,191	$2,137	$3,183	$4,601	$5,780

Source: Ownwell