Griggsville, Pike County, Illinois Property Taxes

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

Median Griggsville, IL effective property tax rate: 2.30%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Griggsville, IL home value: $74,700
Median annual Griggsville, IL tax bill: $1,663, $737 lower than the national median property tax bill of $2,400.

How are property taxes in Pike County calculated?

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

Last Updated March 1, 2025

Griggsville, Pike County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.3%

Estimate Property Tax Bill

$1,718

$1,594

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

Property Tax Rates Across Griggsville, Pike County, Illinois

Local government entities are responsible for setting tax rates, which can differ significantly within a state. This is because each county annually estimates the budget needed to provide essential services and divides it by the total value of all taxable property in its jurisdiction. This calculation determines the property tax rate. While the process involves votes and legislation, this is essentially how it works each year.

In Griggsville, located in Pike County, Illinois, the effective property tax rate is 2.30%, which is considerably higher than the national median property tax rate of 1.02%. This means that residents in Griggsville pay more in property taxes compared to many other parts of the country. When compared to other cities in Illinois, Griggsville's property tax rate is on the higher end, reflecting the county's budgetary needs and property values.

Understanding these rates is crucial for property owners, as they directly impact annual tax bills. By comparing Griggsville's property tax rate to both state and national medians, property owners can better gauge their tax obligations and consider appealing if necessary.

Property Tax Rates Across Griggsville, Pike County, Illinois

Source: Ownwell

1.79%

2.06%

2.32%

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 Griggsville Taxx Rate

2.30%

Median Effective Pike County Taxx Rate

1.93%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Griggsville, Pike County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
62340	1.29%	1.77%	2.30%	2.67%	3.13%

Source: Ownwell

Property Tax Assessment Values Across Griggsville, Pike County, Illinois

When examining property taxes in Griggsville, 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 Pike County Assessor's Office 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 Pike 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 Griggsville.

For example, the median home price in Griggsville is $74,700, with tax bills ranging significantly across the county. Zip code 62340 has the highest median home price at $74,700.

Property Tax Assessment Values Across Griggsville, Pike County, Illinois

Source: Ownwell

$47,175

$66,885

$86,595

Median Griggsville Market Value

$74,700

Median Pike County Market Value

$72,180

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Griggsville, Pike County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
62340	$24,750	$44,190	$74,700	$119,820	$192,144

Source: Ownwell

Property Tax Bills Across Griggsville, Pike County, Illinois

In Griggsville, located in Pike 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 market value, which can fluctuate based on property sales and market conditions. Homeowners in Griggsville face property tax bills that vary significantly, with the 25th percentile at $910 and the 90th percentile reaching up to $4,550. The median tax bill of $1,663 in Griggsville is below the national median of $2,400, offering some relief to homeowners. However, these taxes still represent a significant financial obligation. Factors such as local government budgets and school funding needs influence the tax rate, affecting how much homeowners pay annually. Ownwell assists homeowners by providing expert property tax appeal and exemption services, potentially lowering their tax bills. By leveraging local market data and understanding intricate tax laws, Ownwell ensures that homeowners pay only their fair share, offering peace of mind and financial savings.

Property Tax Bills Across Griggsville, Pike County, Illinois

Source: Ownwell

$834

$1,249

$1,663

Median Griggsville Tax Bill

$1,663

Median Pike County Tax Bill

$1,317

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Griggsville, Pike County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
62340	$339	$910	$1,663	$2,863	$4,550

Source: Ownwell