Graymont, Livingston County, Illinois Property Taxes

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

Median Graymont, IL effective property tax rate: 2.92%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Graymont, IL home value: $125,286
Median annual Graymont, IL tax bill: $3,664, $1,264 higher than the national median property tax bill of $2,400.

How are property taxes in Livingston calculated?

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

Last Updated March 1, 2025

Graymont, Livingston County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.92%

Estimate Property Tax Bill

$3,658

$3,395

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

Property Tax Rates Across Graymont, Livingston County, Illinois

Local government entities determine property tax rates, which can vary significantly within a state. Each year, counties estimate their budgets to provide necessary services and divide this by the total value of all taxable property in their jurisdiction, resulting in the property tax rate. While voting and legislation play roles in setting these rates and budgets, this is the essence of the annual process.

In Graymont, located in Livingston County, the effective property tax rate is 2.92%, which is notably higher than the national median property tax rate of 1.02%. Compared to other cities in Illinois, Graymont's rate is consistent with the highest median tax rate in the state, reflecting the same value of 2.92%. This suggests a relatively high property tax burden for residents when compared to the national landscape. Understanding these differences can help property owners make informed decisions about their investments and potential savings through property tax appeals or exemptions.

Property Tax Rates Across Graymont, Livingston County, Illinois

Source: Ownwell

2.69%

3.10%

3.51%

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 Graymont Tax Rate

2.92%

Median Effective Livingston County Tax Rate

3.02%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Graymont, Livingston County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61743	2.19%	2.70%	2.92%	3.28%	3.75%

Source: Ownwell

Property Tax Assessment Values Across Graymont, Livingston County, Illinois

When examining property taxes in Graymont, 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 Livingston 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 Livingston 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 Graymont. For example, the median home price in Graymont is $125,286, with tax bills ranging significantly across the county. Zip code 61743 has the highest median home price at $125,286.

Property Tax Assessment Values Across Graymont, Livingston County, Illinois

Source: Ownwell

$103,203

$160,239

$217,275

Median Graymont Market Value

$125,286

Median Livingston County Market Value

$144,219

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Graymont, Livingston County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61743	$27,652	$77,442	$125,286	$191,576	$234,237

Source: Ownwell

Property Tax Bills Across Graymont, Livingston County, Illinois

In Graymont, located in Livingston County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as the home's location, size, and any applicable exemptions can influence the final amount. For homeowners in Graymont, the property tax burden can be significant, with tax bills ranging from $2,304 at the 25th percentile to $7,584 at the 90th percentile. The median property tax bill in this area is $3,664, which is higher than the national median of $2,400. This can place a financial strain on homeowners, making it crucial to explore ways to reduce these costs. Here’s where Ownwell comes in. By offering expert property tax appeal and exemption services, Ownwell helps homeowners in Graymont potentially lower their tax bills, ensuring they only pay what is fair and justifiable based on their property's true value.

Property Tax Bills Across Graymont, Livingston County, Illinois

Source: Ownwell

$3,410

$5,342

$7,273

Median Graymont Tax Bill

$3,664

Median Livingston County Tax Bill

$4,592

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Graymont, Livingston County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61743	$1,542	$2,304	$3,664	$5,983	$7,584

Source: Ownwell