Ford County Property Taxes
The median property tax rate in Ford County is 2.52%, which is significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $93,960 in Ford County, the typical annual property tax bill reaches $2,272, which is below the national median of $2,690. Property taxes in Ford County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Ford County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Paxton or another part of Ford County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ford County Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Ford County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Ford County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Ford County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Ford County, Illinois
Property taxes in Ford County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Ford County is 2.52%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Ford County set these rates annually, and they can vary significantly between different areas within the county. Each year, Ford County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Rankin has one of the higher property tax rates at 3.17%, while the city of Strawn boasts one of the lowest at 1.07%. Analyzing how Ford County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Ford County Tax Rate
2.52%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ford County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Anchor | 2.21% | 2.39% | 2.53% | 2.61% | 2.66% |
| Ashkum | 2.64% | 2.68% | 2.88% | 3.07% | 3.09% |
| Buckingham | 2.08% | 2.24% | 2.58% | 2.80% | 2.80% |
| Buckley | 2.64% | 2.70% | 2.81% | 2.92% | 2.99% |
| Cabery | 1.45% | 2.04% | 2.42% | 2.81% | 3.11% |
| Chatsworth | 0.26% | 0.64% | 1.26% | 1.82% | 2.16% |
| Clarence | 1.52% | 1.99% | 2.33% | 3.17% | 3.17% |
| Clifton | 2.61% | 2.66% | 2.74% | 2.83% | 2.88% |
| Cropsey | 1.65% | 2.08% | 2.42% | 2.58% | 2.59% |
| Cullom | 2.44% | 2.54% | 2.98% | 3.10% | 3.19% |
| Elliott | 1.23% | 1.82% | 2.28% | 2.60% | 3.05% |
| Foosland | 1.92% | 2.32% | 2.47% | 2.63% | 2.68% |
| Gibson City | 1.52% | 2.08% | 2.34% | 2.63% | 2.71% |
| Herscher | 2.32% | 2.37% | 2.45% | 2.54% | 2.59% |
| Kempton | 1.73% | 2.30% | 2.79% | 3.04% | 3.40% |
| Loda | 2.42% | 2.60% | 2.87% | 3.15% | 3.27% |
| Ludlow | 2.02% | 2.21% | 2.48% | 2.65% | 2.81% |
| Melvin | 1.19% | 1.79% | 2.35% | 2.88% | 2.94% |
| Onarga | 2.39% | 2.39% | 2.39% | 2.39% | 2.39% |
| Paxton | 1.84% | 2.33% | 2.66% | 2.89% | 3.33% |
| Piper City | 1.43% | 2.08% | 2.63% | 2.96% | 3.36% |
| Rankin | 2.30% | 2.71% | 3.17% | 3.17% | 3.48% |
| Roberts | 1.41% | 1.95% | 2.61% | 3.13% | 3.15% |
| Sibley | 1.33% | 1.71% | 2.27% | 2.70% | 2.95% |
| Strawn | 0.22% | 0.54% | 1.07% | 1.61% | 1.92% |
| Thawville | 2.00% | 2.30% | 2.71% | 2.93% | 2.97% |
Source: Ownwell
Property Tax Assessment Values Across Ford County, Illinois
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Ford County, Illinois. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Ford County Appraisal District. The assessed value, however, 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. Assessment notices in Ford County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Ford County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Ford County, Clifton has the highest median tax bill at $7,759, while Chatsworth has the lowest at $415. By understanding these differences, property owners can make informed decisions to potentially reduce their tax liabilities.
Average Ford County Assessed Value
$93,960
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ford County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Anchor | $104,613 | $143,048 | $193,965 | $257,025 | $317,316 |
| Ashkum | $94,413 | $130,012 | $175,920 | $208,725 | $220,740 |
| Buckingham | $34,590 | $69,128 | $101,760 | $115,088 | $153,285 |
| Buckley | $151,314 | $180,645 | $229,530 | $236,235 | $240,258 |
| Cabery | $31,191 | $44,325 | $75,255 | $105,990 | $178,977 |
| Chatsworth | $32,706 | $32,760 | $32,850 | $74,175 | $98,970 |
| Clarence | $6,576 | $19,560 | $34,920 | $54,090 | $78,396 |
| Clifton | $164,490 | $205,755 | $274,530 | $343,305 | $384,570 |
| Cropsey | $89,796 | $94,980 | $147,285 | $213,682 | $317,292 |
| Cullom | $51,135 | $123,818 | $196,335 | $248,258 | $305,535 |
| Elliott | $20,184 | $40,440 | $64,350 | $92,280 | $111,168 |
| Foosland | $47,250 | $102,210 | $149,490 | $236,220 | $327,900 |
| Gibson City | $51,456 | $79,890 | $113,880 | $172,500 | $253,092 |
| Herscher | $156,888 | $175,005 | $205,200 | $235,395 | $253,512 |
| Kempton | $31,230 | $47,550 | $75,870 | $145,890 | $221,190 |
| Loda | $88,260 | $101,985 | $138,225 | $209,198 | $290,910 |
| Ludlow | $36,054 | $84,952 | $135,675 | $165,615 | $194,142 |
| Melvin | $19,824 | $38,985 | $64,200 | $115,215 | $241,701 |
| Onarga | $148,050 | $148,050 | $148,050 | $148,050 | $148,050 |
| Paxton | $48,459 | $71,190 | $94,050 | $128,835 | $184,230 |
| Piper City | $27,990 | $43,005 | $74,310 | $110,640 | $167,655 |
| Rankin | $53,628 | $80,220 | $150,870 | $178,380 | $250,902 |
| Roberts | $21,000 | $36,240 | $65,520 | $118,950 | $193,878 |
| Sibley | $28,683 | $42,645 | $71,835 | $118,845 | $274,974 |
| Strawn | $104,400 | $106,335 | $109,560 | $112,785 | $114,720 |
| Thawville | $65,775 | $88,440 | $124,725 | $178,575 | $252,360 |
Source: Ownwell
Property Tax Bills Across Ford County, Illinois
In Ford County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Local tax authorities determine the assessed value, and this figure is then multiplied by the local tax rate to calculate the tax bill. The median home price in Ford County is $93,960. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. Homeowners in Ford County experience a range of tax bills. At the 25th percentile, the tax bill is approximately $1,328, while at the 75th percentile, it rises to $3,634. Those at the 90th percentile can expect a tax bill around $5,817. Comparatively, the national median property tax rate is 0.99%, highlighting the variability across regions. The highest median tax bill in Ford County is $7,759 in Clifton, whereas the lowest is $415 in Chatsworth. These variations underscore the importance of understanding local tax assessments and rates to anticipate property tax obligations.
Average Ford County Tax Bill
$2,272
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Ford County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Anchor | $2,487 | $3,743 | $4,997 | $6,465 | $8,105 |
| Ashkum | $2,708 | $3,484 | $4,691 | $5,847 | $6,530 |
| Buckingham | $968 | $1,803 | $2,354 | $2,635 | $3,560 |
| Buckley | $4,388 | $4,978 | $5,960 | $6,390 | $6,649 |
| Cabery | $437 | $925 | $1,616 | $2,671 | $4,713 |
| Chatsworth | $87 | $210 | $415 | $1,583 | $2,284 |
| Clarence | $208 | $499 | $753 | $1,073 | $1,911 |
| Clifton | $4,378 | $5,646 | $7,759 | $9,873 | $11,141 |
| Cropsey | $1,643 | $1,738 | $3,106 | $5,287 | $8,324 |
| Cullom | $1,038 | $3,404 | $5,522 | $7,684 | $8,901 |
| Elliott | $203 | $699 | $1,370 | $2,022 | $2,707 |
| Foosland | $784 | $2,341 | $3,462 | $6,220 | $8,621 |
| Gibson City | $904 | $1,557 | $2,489 | $4,050 | $6,256 |
| Herscher | $3,672 | $4,222 | $5,139 | $6,056 | $6,606 |
| Kempton | $617 | $1,085 | $1,907 | $4,115 | $6,453 |
| Loda | $2,154 | $2,950 | $3,944 | $5,811 | $9,005 |
| Ludlow | $1,014 | $1,560 | $2,907 | $4,117 | $4,953 |
| Melvin | $312 | $670 | $1,297 | $3,037 | $6,500 |
| Onarga | $3,536 | $3,536 | $3,536 | $3,536 | $3,536 |
| Paxton | $1,059 | $1,675 | $2,433 | $3,483 | $5,139 |
| Piper City | $477 | $923 | $1,800 | $2,881 | $4,566 |
| Rankin | $1,375 | $2,286 | $4,304 | $5,841 | $8,578 |
| Roberts | $308 | $745 | $1,407 | $3,261 | $6,214 |
| Sibley | $408 | $758 | $1,448 | $2,876 | $7,224 |
| Strawn | $228 | $557 | $1,106 | $1,655 | $1,985 |
| Thawville | $1,450 | $2,044 | $3,196 | $4,893 | $6,976 |
Source: Ownwell