Glasford, Peoria County, Illinois Property Taxes

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

Median Glasford, IL effective property tax rate: 2.44%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Glasford, IL home value: $106,230
Median annual Glasford, IL tax bill: $2,465, $65 higher than the national median property tax bill of $2,400.

How are property taxes in Peoria County calculated?

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

Last Updated March 1, 2025

Glasford, Peoria County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.44%

Estimate Property Tax Bill

$2,592

$2,405

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

Property Tax Rates Across Glasford, Peoria County, Illinois

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

In Glasford, located in Peoria County, Illinois, the effective property tax rate is notably higher than the national median of 1.02%. Glasford's median property tax rate stands at 2.44%, which is significantly above the national average. This means residents in Glasford pay a higher proportion of their property's assessed value in taxes compared to many other areas across the country.

When comparing Glasford’s tax rate to other cities within Illinois, it remains on the higher end of the spectrum. This elevated rate can impact the overall cost of owning property in Glasford, making it essential for property owners to explore potential tax appeal and exemption opportunities to manage their tax liabilities effectively.

Property Tax Rates Across Glasford, Peoria County, Illinois

Source: Ownwell

2.10%

2.66%

3.22%

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 Glasford Tax Rate

2.44%

Median Effective Peoria County Tax Rate

2.68%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Glasford, Peoria County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61533	1.81%	2.18%	2.44%	2.67%	2.99%

Source: Ownwell

Property Tax Assessment Values Across Glasford, Peoria County, Illinois

When examining property taxes in Glasford, 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 Peoria 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 Peoria 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 Glasford. For example, the median home price in Glasford is $106,230, with tax bills ranging significantly across the county. Zip code 61533 has the highest median home price at $106,230.

Property Tax Assessment Values Across Glasford, Peoria County, Illinois

Source: Ownwell

$15,870

$133,065

$250,260

Median Glasford Market Value

$106,230

Median Peoria County Market Value

$93,150

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Glasford, Peoria County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61533	$23,370	$68,340	$106,230	$162,606	$224,460

Source: Ownwell

Property Tax Bills Across Glasford, Peoria County, Illinois

In Glasford, located in Peoria County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the property's market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as local government budgets, school funding needs, and public services influence the tax rate, impacting how much homeowners pay. In Glasford, the median home price is $106,230, and property tax bills can vary significantly. At the 25th percentile, the tax bill is $1,426, while the 75th percentile sees bills up to $3,830. This range highlights the variability homeowners might experience, with some paying considerably more than the national median property tax bill of $2,400. Ownwell can assist homeowners by reviewing their property assessments to ensure accuracy, identifying potential savings, and guiding them through the appeal process. This expertise can lead to significant reductions in property tax bills, providing financial relief for homeowners.

Property Tax Bills Across Glasford, Peoria County, Illinois

Source: Ownwell

$439

$3,464

$6,489

Median Glasford Tax Bill

$2,465

Median Peoria County Tax Bill

$2,323

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Glasford, Peoria County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61533	$556	$1,426	$2,465	$3,830	$5,549

Source: Ownwell