Sun River Terrace, Kankakee County, Illinois Property Taxes

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

Median SUN RIVER TERRACE, IL effective property tax rate: 2.73%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median SUN RIVER TERRACE, IL home value: $63,702
Median annual SUN RIVER TERRACE, IL tax bill: $1,739, $661 lower than the national median property tax bill of $2,400.

How are property taxes in Kankakee calculated?

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

Last Updated March 1, 2025

Sun River Terrace, Kankakee County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.73%

Estimate Property Tax Bill

$1,739

$1,614

Ownwell’s Sun River Terrace Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Sun River Terrace with just two data points. By entering your property's estimated assessed value, our calculator applies Sun River Terrace’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 Sun River Terrace, Kankakee County, Illinois

Local government entities set tax rates, which can vary widely within a state. 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.

Sun River Terrace in Kankakee County, IL, has an effective property tax rate of 2.73%, significantly higher than the national median property tax rate of 1.02%. This makes it one of the highest in the state and the nation. The median property tax bill in the area is also notably higher than the national median of $2,400. Despite the higher rates, the funds collected are essential for maintaining local services such as schools, roads, and emergency services.

Comparing Sun River Terrace’s tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. can provide valuable insights for property owners considering an appeal or seeking exemptions.

Property Tax Rates Across Sun River Terrace, 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 Sun River Terrace Tax Rate

2.73%

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 Sun River Terrace, Kankakee County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60964	2.73%	2.73%	2.73%	2.73%	2.80%

Source: Ownwell

Property Tax Assessment Values Across Sun River Terrace, Kankakee County, Illinois

When examining property taxes in Sun River Terrace, 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 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 the season. 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 Sun River Terrace. For example, the median home price in Sun River Terrace is $63,702, with tax bills ranging significantly across the county. 60964 has the highest median home price at $63,702.

Property Tax Assessment Values Across Sun River Terrace, Kankakee County, Illinois

Source: Ownwell

$49,746

$124,081

$198,416

Median Sun River Terrace Market Value

$63,702

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 Sun River Terrace, Kankakee County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60964	$34,378	$50,115	$63,702	$64,995	$71,290

Source: Ownwell

Property Tax Bills Across Sun River Terrace, Kankakee County, Illinois

In Sun River Terrace, located in Kankakee County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Various factors contribute to this calculation, including local government budgets and public service funding needs. Homeowners in Sun River Terrace face a median property tax bill of approximately $1,739, which is below the national median of $2,400. This means that while property taxes are relatively moderate compared to the national average, they still represent a significant expense for homeowners. Ownwell offers valuable assistance by helping homeowners appeal their property tax assessments and identify potential exemptions, which can lead to significant savings. By leveraging their expertise, homeowners can ensure that their property is assessed fairly, potentially reducing their tax burden and ensuring they are not overpaying.

Property Tax Bills Across Sun River Terrace, Kankakee County, Illinois

Source: Ownwell

$1,473

$3,969

$6,465

Median Sun River Terrace Tax Bill

$1,739

Median Kankakee County Tax Bill

$4,151

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Sun River Terrace, Kankakee County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60964	$1,045	$1,368	$1,739	$1,774	$1,946

Source: Ownwell