Gilson, Knox County, Illinois Property Taxes

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

Median Gilson, IL effective property tax rate: 1.96%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median Gilson, IL home value: $117,690. Median annual Gilson, IL tax bill: $2,056, $344 lower than the national median property tax bill of $2,400.

How are property taxes in Knox County calculated?

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

Last Updated March 1, 2025

Gilson, Knox County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.96%

Estimate Property Tax Bill

$2,307

$2,141

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

Property Tax Rates Across Gilson, Knox 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, resulting 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 Gilson’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

In Gilson, located in Knox County, the effective property tax rate is 1.96%. This rate is notably higher than the national median property tax rate of 1.02%. When compared to the national median property tax bill of $2400, residents in Gilson may find themselves paying more due to this higher rate. The property tax rate in Gilson is consistent across the county, with both the highest and lowest median tax rates being 1.96% in the 61436 zip code. This uniformity provides a level of predictability for property owners within the area. Comparing these figures to other cities in Illinois and the national average offers valuable insights for current and prospective property owners.

Property Tax Rates Across Gilson, Knox County, Illinois

Source: Ownwell

0.27%

1.39%

2.52%

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 Gilson Taxx Rate

1.96%

Median Effective Knox County Taxx Rate

2.31%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Gilson, Knox County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61436	0.24%	1.32%	1.96%	2.36%	2.56%

Source: Ownwell

Property Tax Assessment Values Across Gilson, Knox County, Illinois

When examining property taxes in Gilson, 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 Knox 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 Knox 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 Gilson.

For example, the median home price in Gilson is $117,690, with tax bills ranging significantly across the county. ZIP code 61436 has the highest median home price at $117,690.

Property Tax Assessment Values Across Gilson, Knox County, Illinois

Source: Ownwell

$41,790

$1,323,092

$2,604,393

Median Gilson Market Value

$117,690

Median Knox County Market Value

$78,330

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Gilson, Knox County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61436	$31,956	$61,380	$117,690	$223,500	$1,161,637

Source: Ownwell

Property Tax Bills Across Gilson, Knox County, Illinois

In Gilson, located in Knox County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value, and the tax rate is set by local taxing authorities. Factors influencing the tax bill include changes in local government budgets, school funding needs, and infrastructure projects. For homeowners in Gilson, the median property tax bill is $2,056, which is below the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $1,130 and the 90th percentile reaching $5,621. This variance can heavily impact homeowners, especially if property assessments increase unexpectedly. Ownwell assists homeowners by providing professional property tax appeal services, potentially lowering these bills. By evaluating property assessments and identifying discrepancies, Ownwell helps ensure homeowners in Gilson are not overpaying, offering peace of mind and potential savings in a complex tax landscape.

Property Tax Bills Across Gilson, Knox County, Illinois

Source: Ownwell

$748

$4,362

$7,975

Median Gilson Tax Bill

$2,056

Median Knox County Tax Bill

$1,699

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Gilson, Knox County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61436	$564	$1,130	$2,056	$3,401	$5,621

Source: Ownwell