Grundy County Property Taxes
The median property tax rate in Grundy County is 2.61%, which is significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Grundy County, the typical annual property tax bill reaches $3,869, which exceeds the national median of $2,690. Property taxes in Grundy 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 Grundy 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 Morris or another part of Grundy County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grundy County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.61%
Estimate Property Tax Bill
$3,801
$3,527
Ownwell’s Grundy County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grundy County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Grundy 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's 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 Grundy County, Illinois
Property taxes in Grundy County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Grundy County is 2.61%, which is significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Grundy County set these rates annually, and they can vary significantly between different areas within the county. Each year, Grundy 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 Verona has one of the higher property tax rates in Illinois at 3.20%, while the city of Wilmington boasts one of the lowest at 1.70%. Analyzing how Grundy County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Grundy County Tax Rate
2.61%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grundy County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Braceville | 2.55% | 2.74% | 2.74% | 2.76% | 3.51% |
| Braidwood | 2.41% | 2.45% | 2.58% | 2.73% | 2.83% |
| Carbon Hill | 2.03% | 2.03% | 2.03% | 2.03% | 2.03% |
| Channahon | 2.73% | 2.79% | 2.79% | 2.79% | 2.79% |
| Coal City | 1.89% | 2.38% | 2.38% | 2.45% | 2.45% |
| Diamond | 1.89% | 1.89% | 1.95% | 1.95% | 2.04% |
| Dwight | 2.43% | 2.84% | 3.14% | 3.35% | 3.56% |
| East Brooklyn | 2.79% | 2.83% | 2.83% | 2.97% | 3.45% |
| Gardner | 2.56% | 2.73% | 2.74% | 3.21% | 3.42% |
| Godley | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
| Kinsman | 2.83% | 2.83% | 3.15% | 3.46% | 3.87% |
| Mazon | 2.29% | 2.59% | 3.04% | 3.22% | 3.61% |
| Minooka | 2.67% | 2.67% | 2.67% | 2.67% | 2.69% |
| Morris | 2.21% | 2.42% | 2.61% | 2.64% | 3.09% |
| Newark | 2.55% | 2.89% | 2.93% | 3.02% | 3.13% |
| Ransom | N/A | N/A | N/A | N/A | N/A |
| Reddick | 2.66% | 2.88% | 2.93% | 2.95% | 2.99% |
| Seneca | 1.95% | 2.10% | 2.33% | 2.87% | 3.15% |
| South Wilmington | 2.83% | 2.86% | 2.86% | 2.86% | 2.86% |
| Verona | 2.37% | 2.87% | 3.20% | 3.43% | 3.80% |
| Wilmington | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Grundy County, Illinois
In Grundy County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. 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 Grundy 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 Grundy 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 Grundy County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Grundy County, Newark has the highest median tax bill at $6,104, while East Brooklyn has the lowest at $678.
Average Grundy County Assessed Value
$145,632
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grundy County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Braceville | $9,116 | $30,390 | $75,630 | $129,942 | $173,212 |
| Braidwood | $38,185 | $48,537 | $92,756 | $134,856 | $141,395 |
| Carbon Hill | $18,766 | $32,513 | $52,952 | $130,843 | $186,970 |
| Channahon | $48,549 | $157,426 | $207,932 | $289,366 | $326,486 |
| Coal City | $61,532 | $105,267 | $146,964 | $200,925 | $295,285 |
| Diamond | $46,433 | $125,458 | $156,978 | $252,340 | $388,577 |
| Dwight | $20,944 | $53,637 | $92,187 | $182,730 | $290,123 |
| East Brooklyn | $13,690 | $15,747 | $23,942 | $77,614 | $175,852 |
| Gardner | $31,996 | $63,704 | $117,171 | $180,033 | $253,318 |
| Godley | $3,279 | $3,279 | $3,279 | $3,279 | $3,279 |
| Kinsman | $29,909 | $66,008 | $97,536 | $153,386 | $271,291 |
| Mazon | $30,671 | $70,994 | $120,110 | $187,672 | $266,707 |
| Minooka | $102,690 | $144,696 | $171,360 | $222,504 | $290,793 |
| Morris | $48,376 | $102,278 | $152,614 | $211,878 | $292,279 |
| Newark | $93,103 | $141,903 | $196,380 | $343,326 | $399,088 |
| Ransom | N/A | N/A | N/A | N/A | N/A |
| Reddick | $89,195 | $103,086 | $145,410 | $202,598 | $239,098 |
| Seneca | $31,708 | $116,996 | $216,086 | $291,432 | $323,041 |
| South Wilmington | $21,741 | $37,754 | $80,480 | $113,175 | $156,965 |
| Verona | $18,463 | $58,449 | $131,076 | $212,268 | $291,104 |
| Wilmington | $93,653 | $174,006 | $223,602 | $286,977 | $383,594 |
Source: Ownwell
Property Tax Bills Across Grundy County, Illinois
In Grundy County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the home's location, its assessed value, and the specific tax rates set by local government entities such as school districts and municipalities. For homeowners in Grundy County, the property tax burden can vary significantly. The 25th percentile tax bill is $2,518, while at the 75th percentile, it rises to $5,623. The 90th percentile sees tax bills as high as $7,915. These figures highlight the range of property tax obligations within the county, influenced by property values and local tax rates. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand how local assessments and rates impact their specific tax obligations. This understanding can help in planning and managing household budgets effectively.
Average Grundy County Tax Bill
$3,869
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Grundy County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Braceville | $301 | $1,004 | $2,380 | $3,869 | $5,389 |
| Braidwood | $925 | $1,194 | $2,430 | $3,693 | $4,009 |
| Carbon Hill | $382 | $665 | $1,077 | $2,661 | $3,803 |
| Channahon | $1,309 | $4,390 | $5,799 | $8,070 | $9,105 |
| Coal City | $1,472 | $2,497 | $3,426 | $4,636 | $6,568 |
| Diamond | $897 | $2,520 | $3,057 | $5,041 | $7,622 |
| Dwight | $961 | $2,051 | $3,378 | $6,366 | $9,104 |
| East Brooklyn | $388 | $446 | $678 | $2,478 | $6,240 |
| Gardner | $898 | $1,909 | $3,519 | $5,684 | $8,410 |
| Godley | $82 | $82 | $82 | $82 | $82 |
| Kinsman | $943 | $1,907 | $3,532 | $5,726 | $8,907 |
| Mazon | $1,099 | $2,305 | $3,928 | $5,880 | $8,250 |
| Minooka | $3,389 | $3,915 | $4,644 | $6,114 | $7,979 |
| Morris | $1,505 | $2,749 | $3,977 | $5,658 | $7,860 |
| Newark | $2,783 | $4,121 | $6,104 | $10,110 | $11,679 |
| Ransom | N/A | N/A | N/A | N/A | N/A |
| Reddick | $2,641 | $3,001 | $4,280 | $5,326 | $6,959 |
| Seneca | $2,199 | $3,185 | $5,274 | $7,324 | $8,398 |
| South Wilmington | $621 | $1,079 | $2,300 | $3,235 | $4,486 |
| Verona | $773 | $1,920 | $4,377 | $7,000 | $9,530 |
| Wilmington | $1,830 | $3,135 | $3,912 | $4,979 | $6,519 |
Source: Ownwell