Canton, Fulton County, Illinois Property Taxes

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

Median Canton, IL effective property tax rate: 2.74%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Canton, IL home value: $78,258
Median annual Canton, IL tax bill: $1,401, $999 lower than the national median property tax bill of $2,400.

How are property taxes in Fulton calculated?

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

Last Updated March 1, 2025

Canton, Fulton County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.74%

Estimate Property Tax Bill

$2,144

$1,990

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

Property Tax Rates Across Canton, Fulton County, Illinois

Local government entities set tax rates, which can vary widely within a state. This is because each county annually 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. Canton in Fulton County, IL, presents an interesting case for property tax rates. The effective property tax rate here stands out when compared to other cities in Illinois and the national average. With a median property tax rate of 2.74%, Canton significantly surpasses the national median property tax rate of 1.02%. This means property owners in Canton could be paying higher property taxes compared to many other parts of the country. Understanding these rates is crucial for homeowners and potential buyers in the area, as it directly impacts the overall cost of owning property.

Property Tax Rates Across Canton, Fulton County, Illinois

Source: Ownwell

1.39%

2.49%

3.59%

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 Canton Taxx Rate

2.74%

Median Effective Fulton County Taxx Rate

2.71%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Canton, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61520	1.62%	2.19%	2.74%	3.40%	3.40%

Source: Ownwell

Property Tax Assessment Values Across Canton, Fulton County, Illinois

When examining property taxes in Canton, 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 Fulton 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 Fulton 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 Canton. For example, the median home price in Canton is $78,258, with tax bills ranging significantly across the county. Zip code 61520 has the highest median home price at $78,258.

Property Tax Assessment Values Across Canton, Fulton County, Illinois

Source: Ownwell

$26,937

$71,044

$115,150

Median Canton Market Value

$78,258

Median Fulton County Market Value

$71,967

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Canton, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61520	$34,324	$55,045	$78,258	$115,285	$158,949

Source: Ownwell

Property Tax Bills Across Canton, Fulton County, Illinois

In Canton, located in Fulton County, IL, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in Canton is $78,258, with a median property tax bill of $1,401, which is below the national median of $2,400. This means homeowners in Canton pay a lower property tax rate compared to the national average of 1.02%. However, tax bills can vary widely, with the 25th percentile at $807 and the 90th percentile reaching $2,960. These variations depend on factors such as property size, location, and improvements. Property taxes significantly impact homeowners' budgets, making it essential to ensure assessments are accurate. Ownwell offers valuable assistance by reviewing property assessments and identifying potential errors or opportunities for exemptions. By appealing incorrect assessments, Ownwell helps homeowners reduce their tax burdens, ensuring they only pay their fair share. This service is crucial for maintaining financial stability and maximizing savings.

Property Tax Bills Across Canton, Fulton County, Illinois

Source: Ownwell

$467

$949

$1,430

Median Canton Tax Bill

$1,401

Median Fulton County Tax Bill

$1,058

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Canton, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61520	$455	$807	$1,401	$2,138	$2,960

Source: Ownwell