Thawville, Ford County, Illinois Property Taxes

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

Median Thawville, IL effective property tax rate: 2.71%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Thawville, IL home value: $124,725
Median annual Thawville, IL tax bill: $3,196, $796 higher than the national median property tax bill of $2,400.

How are property taxes in Ford calculated?

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

Last Updated March 1, 2025

Thawville, Ford County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.71%

Estimate Property Tax Bill

$3,380

$3,137

Ownwell’s Thawville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Thawville with just two data points. By entering your property's estimated assessed value, our calculator applies Thawville’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 Thawville, Ford County, Illinois

Local government entities determine tax rates, which can vary significantly within a state. This is because each county calculates its required budget for services and divides it by the total assessed value of all taxable properties within its area. This process results in the property tax rate. Although votes and laws play a role in establishing these rates and budgets, this is essentially how it works annually.

In Thawville, located in Ford County, Illinois, the effective property tax rate stands out when compared to other cities in the state. Interestingly, Thawville's rate is the highest in Illinois, at 2.71%, which is considerably above the national median property tax rate of 1.02%. This difference highlights the variability of property tax rates not just within the state but also when compared to national figures. Property owners in Thawville should be aware of this higher rate, as it directly impacts their annual property tax bill. Understanding these differences can be crucial for homeowners when budgeting for property taxes and considering the financial implications of living in Thawville compared to other regions.

Property Tax Rates Across Thawville, 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 Thawville Tax Rate

2.71%

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 Thawville, Ford County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60968	2.00%	2.30%	2.71%	2.93%	2.97%

Source: Ownwell

Property Tax Assessment Values Across Thawville, Ford County, Illinois

When examining property taxes in Thawville, 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 Thawville.

For example, the median home price in Thawville is $124,725, with tax bills ranging significantly across the county. Zip code 60968 has the highest median home price at $124,725.

Property Tax Assessment Values Across Thawville, Ford County, Illinois

Source: Ownwell

$34,920

$115,628

$196,335

Median Thawville Market Value

$124,725

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 Thawville, Ford County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60968	$65,775	$88,440	$124,725	$178,575	$252,360

Source: Ownwell

Property Tax Bills Across Thawville, Ford County, Illinois

In Thawville, located in Ford County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Thawville is approximately $124,725. Property tax rates are applied to this assessed value to determine the tax bill. The median property tax bill in Thawville is $3,196, which is significantly higher than the national median of $2,400. Homeowners in this area may experience tax bills ranging from the 25th percentile at $2,044 to the 90th percentile at $6,976. This variance is influenced by factors such as property size, location, and local levies. High property taxes can be a burden for homeowners, impacting their financial planning and homeownership experience. Ownwell offers a solution by providing property tax appeal and exemption services. By analyzing local tax assessments and identifying potential discrepancies, Ownwell helps homeowners reduce their tax liabilities, ensuring they pay only what is fair and accurate.

Property Tax Bills Across Thawville, Ford County, Illinois

Source: Ownwell

$753

$3,138

$5,522

Median Thawville Tax Bill

$3,196

Median Ford County Tax Bill

$2,272

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Thawville, Ford County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60968	$1,450	$2,044	$3,196	$4,893	$6,976

Source: Ownwell