Wilmington, Kankakee County, Illinois Property Taxes
Median Wilmington, IL effective property tax rate: 2.56%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Wilmington, IL home value: $179,714
Median annual Wilmington, IL tax bill: $4,059, $1,659 higher than the national median property tax bill of $2,400.
How are property taxes in Kankakee calculated?
Property taxes in Wilmington, 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 Wilmington’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wilmington, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wilmington, Kankakee County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.56%
Estimate Property Tax Bill
$4,601
$4,269
Property Tax Rates Across Wilmington, 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.
Below, you can compare Wilmington's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Wilmington, located in Kankakee County, has a property tax rate that stands out in Illinois. The city's rate is significantly higher than the national median property tax rate of 1.02%. This means that property owners in Wilmington may face higher tax bills compared to many other areas in the country. It’s essential for property owners in Wilmington to stay informed about their property tax assessments and explore potential exemptions or appeals to manage their tax liabilities effectively. Understanding these nuances can help make informed decisions about property ownership in Wilmington.
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 Wilmington Tax Rate
2.56%
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 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 Wilmington, Kankakee County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60481 | 1.85% | 2.19% | 2.56% | 2.79% | 3.32% |
Source: Ownwell
Property Tax Assessment Values Across Wilmington, Kankakee County, Illinois
When examining property taxes in Wilmington, 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 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 Wilmington.
For example, the median home price in Wilmington is $179,714, with tax bills ranging significantly across the county. Zip code 60481 has the highest median home price at $179,714.
Property Tax Assessment Values Across Wilmington, Kankakee County, Illinois
Source: Ownwell
$49,746
$124,081
$198,416
Median Wilmington Market Value
$179,714
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 Wilmington, Kankakee County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60481 | $47,526 | $109,668 | $179,714 | $250,177 | $313,937 |
Source: Ownwell
Property Tax Bills Across Wilmington, Kankakee County, Illinois
In Wilmington, 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 median home price in this area is $179,714. Homeowners face varying tax bills, with the 25th percentile at $2,348 and the 75th percentile reaching up to $6,078. The 90th percentile can see tax bills as high as $6,602. This variability in tax bills can significantly impact homeowners, especially when compared to the national median property tax bill of $2,400. Factors influencing these tax bills include local government budgets, school district funding, and public services.
Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. By analyzing your property's assessed value and comparing it to similar properties, Ownwell can identify potential inaccuracies or over-assessments. This can lead to a reduction in your tax bill, ensuring you only pay what is fair. With Ownwell’s expertise, homeowners can achieve significant savings on their property taxes.
Median Wilmington Tax Bill
$4,059
Median Kankakee County Tax Bill
$4,151
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Wilmington, Kankakee County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60481 | $1,276 | $2,348 | $4,059 | $6,078 | $6,602 |
Source: Ownwell