Paxton, Ford County, Illinois Property Taxes

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

Median Paxton, IL effective property tax rate: 2.66%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Paxton, IL home value: $94,050
Median annual Paxton, IL tax bill: $2,433, $33 higher than the national median property tax bill of $2,400.

How are property taxes in Ford County calculated?

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

Last Updated March 1, 2025

Paxton, Ford County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.66%

Estimate Property Tax Bill

$2,502

$2,322

Ownwell’s Paxton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Paxton with just two data points. By entering your property's estimated assessed value, our calculator applies Paxton’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 Ford County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Paxton, Ford 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 Paxton’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Paxton, located in Ford County, has a median property tax rate of 2.66%, which is significantly higher than the national median of 1.02%. This suggests that property owners in Paxton might face higher tax bills compared to those in other parts of the country. Understanding these rates can help property owners make informed decisions about their investments and potential savings through tax appeal services.

Property Tax Rates Across Paxton, Ford County, Illinois

Source: Ownwell

2.27%

2.72%

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 Paxton Tax Rate

2.66%

Median Effective Ford County Tax Rate

2.52%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Paxton, Ford County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60957	1.84%	2.33%	2.66%	2.89%	3.33%

Source: Ownwell

Property Tax Assessment Values Across Paxton, Ford County, Illinois

When examining property taxes in Paxton, 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 Ford County appraisal district 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 Ford County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Paxton.

For example, the median home price in Paxton is $94,050, with tax bills ranging significantly across the county. Zip code 60957 has the highest median home price at $94,050.

Property Tax Assessment Values Across Paxton, Ford County, Illinois

Source: Ownwell

$34,920

$115,628

$196,335

Median Paxton Market Value

$94,050

Median Ford County Market Value

$93,960

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Paxton, Ford County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60957	$48,459	$71,190	$94,050	$128,835	$184,230

Source: Ownwell

Property Tax Bills Across Paxton, Ford County, Illinois

In Paxton, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Paxton is $94,050. The tax rate is applied to the assessed value to determine the tax bill. In Paxton, the median property tax bill is $2,433, which is slightly above the national median of $2,400. Homeowners in Paxton can expect tax bills to vary, with the 25th percentile at $1,675 and the 75th percentile at $3,483, indicating a range of tax burdens across the city. These variations depend on factors like property size, location, and local government budgets. For homeowners feeling the pinch of these taxes, Ownwell offers a valuable service. By leveraging expertise in property tax appeals and exemptions, Ownwell can help homeowners potentially reduce their tax bills. This service ensures homeowners are not overpaying and can provide significant savings, easing the financial burden of property ownership in Paxton.

Property Tax Bills Across Paxton, Ford County, Illinois

Source: Ownwell

$753

$3,138

$5,522

Median Paxton Tax Bill

$2,433

Median Ford County Tax Bill

$2,272

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Paxton, Ford County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60957	$1,059	$1,675	$2,433	$3,483	$5,139

Source: Ownwell