Gardner, Illinois Property Taxes
The median property tax rate in Gardner, IL is 2.74%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Gardner, the typical annual property tax bill reaches $3,519, exceeding the national median of $2,690. Property taxes in Gardner are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gardner's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Gardner or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gardner, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.74%
Estimate Property Tax Bill
$3,210
$2,979
Ownwell’s Gardner Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gardner with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gardner to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Gardner, Illinois
Property taxes in Gardner, Illinois, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gardner is 2.74%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Gardner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gardner estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Gardner's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60424 zip code has the highest median property tax rate of 2.74%, while the 60424 zip code also has the lowest median tax rate of 2.74%. Understanding how these cities compare with Gardner provides valuable insights into the varying tax landscape across Grundy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gardner Tax Rate
2.74%
Average Grundy County Tax Rate
2.61%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gardner, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60424 | 2.56% | 2.73% | 2.74% | 3.21% | 3.42% |
Source: Ownwell
Property Tax Assessment Values Across Gardner, Illinois
In Gardner, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Grundy County Appraisal District for tax purposes. In contrast, the assessed value 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. In Gardner, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Gardner has a median home price of $117,171. The highest median tax bill in the area is $3,519, found in zip code 60424, which is also the lowest median tax bill in the region. Being aware of these valuation processes in Gardner helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gardner Assessed Value
$117,171
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 Gardner, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60424 | $31,996 | $63,704 | $117,171 | $180,033 | $253,318 |
Source: Ownwell
Property Tax Bills Across Gardner, Illinois
In Gardner, Grundy County, IL, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine your annual tax bill. Several factors influence the assessed value, including recent home sales in the area, property improvements, and market trends. For example, with a median home price of $117,171, homeowners in Gardner can expect varying tax bills depending on their property's assessed value and specific circumstances. The 25th percentile tax bill is around $1,909, while the 75th percentile tax bill can reach up to $5,684. Those at the 90th percentile may see bills as high as $8,410. The highest median tax bill in the region is $3,519, and it’s consistent across the zip code 60424. These tax bills significantly impact homeowners, influencing monthly mortgage payments and overall affordability. Comparing this to the national median property tax rate of 0.99%, Gardner's rates can be considered relatively high, affecting the financial planning of its residents.
Average Gardner Tax Bill
$3,519
Average Grundy County Tax Bill
$3,869
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Gardner, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60424 | $898 | $1,909 | $3,519 | $5,684 | $8,410 |
Source: Ownwell