Grand Tower, Jackson County, Illinois Property Taxes

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

Median GRAND TOWER, IL effective property tax rate: 1.94%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median GRAND TOWER, IL home value: $29,472
Median annual GRAND TOWER, IL tax bill: $518, $1,882 lower than the national median property tax bill of $2,400.

How are property taxes in Jackson calculated?

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

Last Updated March 1, 2025

Grand Tower, Jackson County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.94%

Estimate Property Tax Bill

$572

$531

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

Property Tax Rates Across Grand Tower, Jackson County, Illinois

Local government entities are responsible for setting tax rates, which can vary significantly within Illinois. This variation occurs because each county annually estimates its required budget for services and divides it by the total value of all taxable property in its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.

In Grand Tower, located in Jackson County, the effective property tax rate is 1.94%, which aligns with the highest and lowest rates in the area. This rate is considerably higher than the national median property tax rate of 1.02%. The property tax bill in this region can be notably higher than the national median bill of $2,400, which reflects the local government's budgetary needs and the total assessed property value. Understanding these rates is crucial for property owners looking to manage their tax liabilities effectively.

Property Tax Rates Across Grand Tower, Jackson County, Illinois

Source: Ownwell

1.86%

2.72%

3.58%

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 Grand Tower Taxx Rate

1.94%

Median Effective Jackson County Taxx Rate

2.84%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Grand Tower, Jackson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62942	0.18%	1.05%	1.94%	3.47%	3.54%

Source: Ownwell

Property Tax Assessment Values Across Grand Tower, Jackson County, Illinois

When examining property taxes in Grand Tower, 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 Jackson 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 Jackson 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 Grand Tower. For example, the median home price in Grand Tower is $29,472, with tax bills ranging significantly across the county. Zip code 62942 has the highest median home price at $29,472.

Property Tax Assessment Values Across Grand Tower, Jackson County, Illinois

Source: Ownwell

$29,472

$87,741

$146,010

Median Grand Tower Market Value

$29,472

Median Jackson County Market Value

$84,759

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Grand Tower, Jackson County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62942	$11,782	$18,730	$29,472	$41,368	$60,537

Source: Ownwell

Property Tax Bills Across Grand Tower, Jackson County, Illinois

In Grand Tower, located in Jackson County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in this area is $29,472, significantly lower than the national median. Homeowners in Grand Tower can expect tax bills ranging from $227 at the 25th percentile to $1,599 at the 90th percentile, with a median tax bill of $518. This is considerably below the national median property tax bill of $2,400. The tax rate and resulting bill are influenced by factors such as local government budgets and public service funding needs. High property taxes can strain homeowners financially, especially when the assessed value does not accurately reflect the market value. Ownwell can assist homeowners in Grand Tower by providing expert property tax appeal services. By analyzing assessments and identifying discrepancies, Ownwell helps homeowners potentially lower their tax bills, ensuring they pay only their fair share and easing the financial burden of property taxes.

Property Tax Bills Across Grand Tower, Jackson County, Illinois

Source: Ownwell

$518

$2,411

$4,303

Median Grand Tower Tax Bill

$518

Median Jackson County Tax Bill

$2,391

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Grand Tower, Jackson County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62942	$21	$227	$518	$880	$1,599

Source: Ownwell