Geneva, Kane County, Illinois Property Taxes

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

Median Geneva, IL effective property tax rate: 2.66%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Geneva, IL home value: $362,946
Median annual Geneva, IL tax bill: $9,788, $7,388 higher than the national median property tax bill of $2,400.

How are property taxes in Kane calculated?

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

Last Updated March 1, 2025

Geneva, Kane County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.66%

Estimate Property Tax Bill

$9,654

$8,959

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

Property Tax Rates Across Geneva, Kane County, Illinois

Local government entities in Geneva, located in Kane County, IL, determine property tax rates, which can significantly differ across the state. This variation is primarily due to the annual process where each county calculates its required budget for essential services and then divides this by the total assessed value of all taxable properties within its boundaries. This calculation establishes the property tax rate. Although the process involves votes and legislation, this is the core of how rates are set each year.

Geneva's effective property tax rate is notably higher than the national median property tax rate of 1.02%, reflecting the local government's budgetary needs and property values. When comparing Geneva to other cities in Illinois, its tax rate aligns with the state's highest and lowest rates, indicating a consistent approach to property taxation within the region. This consistency underscores the importance of understanding local tax dynamics, especially when considering property investments or relocations. Geneva's property tax scenario highlights the critical role of local governance in shaping residents' financial obligations and the broader economic landscape.

Property Tax Rates Across Geneva, Kane County, Illinois

Source: Ownwell

2.23%

2.57%

2.91%

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 Geneva Taxx Rate

2.66%

Median Effective Kane County Taxx Rate

2.60%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Geneva, Kane County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60134	2.47%	2.57%	2.66%	2.78%	2.90%

Source: Ownwell

Property Tax Assessment Values Across Geneva, Kane County, Illinois

When examining property taxes in Geneva, 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 Kane 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 Kane 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 Geneva.

For example, the median home price in Geneva is $362,946, with tax bills ranging significantly across the county. Zip code 60134 has the highest median home price at $362,946.

Property Tax Assessment Values Across Geneva, Kane County, Illinois

Source: Ownwell

$142,312

$365,554

$588,796

Median Geneva Market Value

$362,946

Median Kane County Market Value

$253,745

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Geneva, Kane County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60134	$217,921	$290,374	$362,946	$443,115	$559,306

Source: Ownwell

Property Tax Bills Across Geneva, Kane County, Illinois

In Geneva, located in Kane County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Typically, the local assessment office determines this value, and the tax rate is then applied to calculate the tax bill. Factors such as local government budgets, school funding, and public services influence the tax rate. Geneva's property taxes are notably higher than the national median, with the median tax bill reaching $9,788, compared to the national median of $2,400. Homeowners in Geneva face substantial tax bills, with the 25th percentile at $7,492 and the 75th percentile at $12,213, highlighting the financial impact on residents. Ownwell can assist homeowners in Geneva by providing expert property tax appeal services, potentially lowering their tax bills. By analyzing assessments and identifying discrepancies, Ownwell helps ensure that homeowners are not overpaying, offering a valuable opportunity for savings in a region with high property taxes.

Property Tax Bills Across Geneva, Kane County, Illinois

Source: Ownwell

$3,136

$9,682

$16,228

Median Geneva Tax Bill

$9,788

Median Kane County Tax Bill

$6,484

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Geneva, Kane County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60134	$5,508	$7,492	$9,788	$12,213	$15,274

Source: Ownwell