Wilmington, Grundy County, Illinois Property Taxes

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

Median Wilmington, IL effective property tax rate: 1.70%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Wilmington, IL home value: $223,602
Median annual Wilmington, IL tax bill: $3,912, $1,512 higher than the national median property tax bill of $2,400.

How are property taxes in Grundy County calculated?

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

Last Updated March 1, 2025

Wilmington, Grundy County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.7%

Estimate Property Tax Bill

$3,801

$3,527

Ownwell’s Wilmington Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Wilmington with just two data points.

By entering your property's estimated assessed value, our calculator applies Wilmington’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 Wilmington, Grundy County, Illinois

Local government entities set tax rates, which can vary widely within a state. 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 Wilmington’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Wilmington, located in Grundy County, has an effective property tax rate that aligns with the highest and lowest median rates in the state. This rate is notably higher than the national median property tax rate of 1.02%, emphasizing the importance of understanding local tax obligations. Homeowners in Wilmington face a higher tax burden compared to the national average, which can impact overall affordability and financial planning. By appealing your property tax assessment, you could potentially lower your tax bill, making homeownership more affordable. Understanding these dynamics can empower property owners to make informed decisions about their investments and manage their financial responsibilities effectively.

Property Tax Rates Across Wilmington, 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 Wilmington Taxx Rate

1.70%

Median Effective Grundy County Taxx Rate

2.61%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Wilmington, Grundy County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60481	1.70%	1.70%	1.70%	1.70%	1.70%

Source: Ownwell

Property Tax Assessment Values Across Wilmington, Grundy County, Illinois

When examining property taxes in Wilmington, 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 containing 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 Wilmington. For example, the median home price in Wilmington is $223,602, with tax bills ranging significantly across the county. Zip code 60481 has the highest median home price at $223,602.

Property Tax Assessment Values Across Wilmington, Grundy County, Illinois

Source: Ownwell

$52,952

$138,277

$223,602

Median Wilmington Market Value

$223,602

Median Grundy County Market Value

$145,632

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Wilmington, Grundy County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60481	$93,653	$174,006	$223,602	$286,977	$383,594

Source: Ownwell

Property Tax Bills Across Wilmington, Grundy County, Illinois

In Wilmington, Grundy County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Wilmington is $223,602. Tax rates in this region can result in a variety of tax bills. For instance, the 25th percentile tax bill is $3,135, while the 75th percentile tax bill reaches $4,979, and the 90th percentile tax bill climbs to $6,519. This is significantly higher than the national median property tax bill of $2,400, emphasizing the financial impact on Wilmington homeowners. Factors influencing property taxes include local government budgets and public service funding needs. Ownwell assists homeowners by providing expert property tax appeal services, potentially lowering their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners are not overpaying. This can lead to substantial savings, making homeownership more affordable and less financially burdensome in Wilmington.

Property Tax Bills Across Wilmington, Grundy County, Illinois

Source: Ownwell

$1,077

$3,591

$6,104

Median Wilmington Tax Bill

$3,912

Median Grundy County Tax Bill

$3,869

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Wilmington, Grundy County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60481	$1,830	$3,135	$3,912	$4,979	$6,519

Source: Ownwell