Grafton, Jersey County, Illinois Property Taxes
Median Grafton, IL effective property tax rate: 2.22%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Grafton, IL home value: $137,055
Median annual Grafton, IL tax bill: $3,337, $937 higher than the national median property tax bill of $2,400.
How are property taxes in Jersey County calculated?
Property taxes in Grafton, 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 Grafton’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Grafton, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Grafton, Jersey County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.22%
Estimate Property Tax Bill
$3,043
$2,823
Property Tax Rates Across Grafton, Jersey County, Illinois
Local government entities determine tax rates, and these can vary significantly within a state. This variation stems from the fact that each county estimates its necessary budget to provide services and divides this by the total value of all taxable property within its jurisdiction. This process results in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the core of the annual process.
In Grafton, located in Jersey County, Illinois, the effective property tax rate stands out when compared to other cities in the state. Illinois has a notably high median property tax rate of 2.22%, which is more than double the national median of 1.02%. This means property owners in Grafton and throughout Illinois generally face higher property tax bills than those in many other parts of the country. Understanding these rates is crucial for property owners, as it impacts their financial planning and potential savings through appeals and exemptions. By staying informed and proactive, property owners in Grafton can better manage their property tax liabilities.
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 Grafton Tax Rate
2.22%
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 Jersey County Tax Rate
2.18%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Grafton, Jersey County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62037 | 1.13% | 1.92% | 2.22% | 2.44% | 2.44% |
Source: Ownwell
Property Tax Assessment Values Across Grafton, Jersey County, Illinois
When examining property taxes in Grafton, Illinois, 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 Jersey 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.
Assessment notices:
In Jersey County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Grafton.
For example, the median home price in Grafton is $137,055, with tax bills ranging significantly across the county. Zip code 62037 has the highest median home price at $137,055.
Property Tax Assessment Values Across Grafton, Jersey County, Illinois
Source: Ownwell
$11,280
$93,349
$175,418
Median Grafton Market Value
$137,055
Median Jersey County Market Value
$130,268
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Grafton, Jersey County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62037 | $26,250 | $62,591 | $137,055 | $200,662 | $343,365 |
Source: Ownwell
Property Tax Bills Across Grafton, Jersey County, Illinois
In Grafton, located in Jersey County, IL, property tax bills are determined by assessing the property's value and applying the local tax rate. The median home price in this area is approximately $137,055, which influences the tax bill. Factors such as location, property size, and improvements play a crucial role in determining the assessed value. In this region, the median property tax bill stands at $3,337, notably higher than the national median of $2,400, reflecting the local tax rate's impact on homeowners.
Property taxes can significantly affect homeowners by increasing annual expenses. However, Ownwell offers a solution by providing expert property tax appeal and exemption services. Our team reviews your property's assessed value, identifies potential discrepancies, and files appeals on your behalf. By leveraging our expertise, homeowners in Grafton can potentially lower their property tax bills, ensuring they only pay their fair share. Trust Ownwell to help you navigate the complexities of property taxes and save on your annual expenses.
Median Grafton Tax Bill
$3,337
Median Jersey County Tax Bill
$2,776
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Grafton, Jersey County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62037 | $378 | $1,166 | $3,337 | $4,738 | $7,884 |
Source: Ownwell