Pembroke Township, Illinois Property Taxes
The median property tax rate in Pembroke Township, IL is 3.56%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Pembroke Township, the typical annual property tax bill reaches $1,473, exceeding the national median of $2,690. Property taxes in Pembroke Township are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pembroke Township's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Pembroke Township or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pembroke Township, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.56%
Estimate Property Tax Bill
$1,771
$1,643
Ownwell’s Pembroke Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pembroke Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pembroke Township to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Pembroke Township, Illinois
Property taxes in Pembroke Township, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pembroke Township is 3.56%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Pembroke Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pembroke Township estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Pembroke Township's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60958 zip code has the highest median property tax rate of 3.56%, while the same zip code also has the lowest median tax rate of 3.56%. Understanding how these cities compare with Pembroke Township provides valuable insights into the varying tax landscape across Kankakee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pembroke Township Tax Rate
3.56%
Average Kankakee County Tax Rate
3.07%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pembroke Township, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60958 | 1.78% | 3.09% | 3.56% | 4.35% | 4.75% |
Source: Ownwell
Property Tax Assessment Values Across Pembroke Township, Illinois
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pembroke Township, Illinois. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Kankakee County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Pembroke Township, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Pembroke Township is $49,746, with tax bills ranging from $644 at the 25th percentile to $5,610 at the 90th percentile. The highest and lowest median tax bills, both at $1,473, are found in the 60958 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Pembroke Township, Illinois
Source: Ownwell
$34,078
$116,247
$198,416
Average Pembroke Township Assessed Value
$49,746
Average Kankakee County Assessed Value
$137,616
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pembroke Township, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60958 | $11,078 | $16,962 | $49,746 | $81,049 | $155,174 |
Source: Ownwell
Property Tax Bills Across Pembroke Township, Illinois
In Pembroke Township, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. Homeowners in Pembroke Township, located in Kankakee County, pay property taxes that are influenced by various factors including the home's assessed value, the local tax rate, and any applicable exemptions or deductions. For example, the median home price in Pembroke Township is $49,746. Property tax bills can vary significantly, with the 25th percentile paying around $644 annually, while those in the 75th percentile pay approximately $2,346. Homeowners in the 90th percentile can see tax bills as high as $5,610. Comparatively, the median property tax rate in Pembroke Township is higher than the national median of 0.99%, which can place a considerable financial burden on homeowners. Understanding these factors can help residents better anticipate their property tax obligations and manage their finances accordingly.
Average Pembroke Township Tax Bill
$1,473
Average Kankakee County Tax Bill
$4,151
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Pembroke Township, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60958 | $332 | $644 | $1,473 | $2,346 | $5,610 |
Source: Ownwell