Verona, Grundy County, Illinois Property Taxes

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

Median Verona, IL effective property tax rate: 3.20%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Verona, IL home value: $131,076
Median annual Verona, IL tax bill: $4,377, $1,977 higher than the national median property tax bill of $2,400.

How are property taxes in Grundy calculated?

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

Last Updated March 1, 2025

Verona, Grundy County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.2%

Estimate Property Tax Bill

$4,194

$3,892

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

Property Tax Rates Across Verona, Grundy 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 Verona’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Verona, located in Grundy County, is subject to a median property tax rate of 3.20%, which is significantly higher than the national median property tax rate of 1.02%. This means that homeowners in Verona might pay more in property taxes compared to many other parts of the country. Understanding these rates can be crucial for property owners looking to manage their expenses effectively. By appealing your property tax assessment, you may be able to reduce your tax burden and ensure you're not overpaying.

Property Tax Rates Across Verona, Grundy County, Illinois

Source: Ownwell

1.70%

2.45%

3.20%

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 Verona Tax Rate

3.20%

Median Effective Grundy County Tax Rate

2.61%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Verona, Grundy County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60479	2.37%	2.87%	3.20%	3.43%	3.80%

Source: Ownwell

Property Tax Assessment Values Across Verona, Grundy County, Illinois

When examining property taxes in Verona, 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 Grundy 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 Grundy County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Verona.

For example, the median home price in Verona is $131,076, with tax bills ranging significantly across the county. Zip code 60479 has the highest median home price at $131,076.

Property Tax Assessment Values Across Verona, Grundy County, Illinois

Source: Ownwell

$52,952

$138,277

$223,602

Median Verona Market Value

$131,076

Median Grundy County Market Value

$145,632

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Verona, Grundy County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60479	$18,463	$58,449	$131,076	$212,268	$291,104

Source: Ownwell

Property Tax Bills Across Verona, Grundy County, Illinois

In Verona, Grundy County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, and local taxing authorities set the tax rate based on budgetary needs. In this area, tax bills can vary significantly, with the 25th percentile at $1,920 and the 75th percentile reaching $7,000, demonstrating a wide range of potential costs for homeowners. The highest median tax bill in the region is $4,377, which is above the national median property tax bill of $2,400. This indicates that many homeowners in Verona may face higher-than-average property tax obligations. Ownwell can assist homeowners by reviewing their property assessments and identifying opportunities for tax appeals or exemptions. By leveraging expertise and local knowledge, Ownwell helps ensure that homeowners are not overpaying and can potentially save on their property tax bills, offering peace of mind and financial relief.

Property Tax Bills Across Verona, Grundy County, Illinois

Source: Ownwell

$1,077

$3,591

$6,104

Median Verona Tax Bill

$4,377

Median Grundy County Tax Bill

$3,869

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Verona, Grundy County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60479	$773	$1,920	$4,377	$7,000	$9,530

Source: Ownwell