Bonfield, Kankakee County, Illinois Property Taxes

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

Median Bonfield, IL effective property tax rate: 2.68%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Bonfield, IL home value: $190,593
Median annual Bonfield, IL tax bill: $5,260, $2,860 higher than the national median property tax bill of $2,400.

How are property taxes in Kankakee calculated?

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

Last Updated March 1, 2025

Bonfield, Kankakee County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.68%

Estimate Property Tax Bill

$5,108

$4,740

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

Property Tax Rates Across Bonfield, Kankakee 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.

In Bonfield, located in Kankakee County, the effective property tax rate is 2.68%. This rate is notably higher than the national median property tax rate of 1.02%. Compared to other cities in Illinois, Bonfield's rate stands out as both the highest and lowest within the same zip code, showcasing the uniformity in this area. This rate also surpasses the national median property tax bill of $2,400, indicating a higher financial obligation for property owners in Bonfield.

Understanding these differences can help property owners make informed decisions about their investments and potential tax liabilities.

Property Tax Rates Across Bonfield, Kankakee County, Illinois

Source: Ownwell

2.56%

3.54%

4.53%

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 Bonfield Tax Rate

2.68%

Median Effective Kankakee County Tax Rate

3.07%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Bonfield, Kankakee County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60913	2.18%	2.48%	2.68%	3.06%	3.49%

Source: Ownwell

Property Tax Assessment Values Across Bonfield, Kankakee County, Illinois

When examining property taxes in Bonfield, 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 Kankakee 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 Kankakee 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 Bonfield. For example, the median home price in Bonfield is $190,593, with tax bills ranging significantly across the county. Zip code 60913 has the highest median home price at $190,593.

Property Tax Assessment Values Across Bonfield, Kankakee County, Illinois

Source: Ownwell

$49,746

$124,081

$198,416

Median Bonfield Market Value

$190,593

Median Kankakee County Market Value

$137,616

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Bonfield, Kankakee County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60913	$36,509	$107,214	$190,593	$264,080	$314,581

Source: Ownwell

Property Tax Bills Across Bonfield, Kankakee County, Illinois

Property tax bills in Bonfield, located in Kankakee County, Illinois, are determined by assessing the property's market value and applying the local tax rate. The median home price in Bonfield is $190,593, and the property tax rate significantly impacts homeowners' finances. Bonfield's median property tax bill is $5,260, which is well above the national median property tax bill of $2,400. This higher tax burden can be attributed to the local tax rate and the assessed value of properties. Factors such as property improvements, neighborhood developments, and changes in local tax rates can influence the assessed value and, consequently, the tax bill. For homeowners feeling the financial strain of high property taxes, Ownwell offers a solution. By providing expert property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax bills. Our team analyzes your property’s assessed value and market conditions to identify opportunities for savings, guiding you through the appeal process to ensure you pay only your fair share.

Property Tax Bills Across Bonfield, Kankakee County, Illinois

Source: Ownwell

$1,473

$3,969

$6,465

Median Bonfield Tax Bill

$5,260

Median Kankakee County Tax Bill

$4,151

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Bonfield, Kankakee County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60913	$1,643	$3,006	$5,260	$7,130	$8,449

Source: Ownwell