Georgetown, Vermilion County, Illinois Property Taxes
Median Georgetown, IL effective property tax rate: 2.38%, significantly higher than the national median of 1.02%, but slightly higher than the Illinois state median of 2.35%.
Median Georgetown, IL home value: $64,425
Median annual Georgetown, IL tax bill: $1,375, $1,025 lower than the national median property tax bill of $2,400.
How are property taxes in Vermilion County calculated?
Property taxes in Georgetown, 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 Georgetown’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Georgetown, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Georgetown, Vermilion County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.38%
Estimate Property Tax Bill
$1,533
$1,423
Property Tax Rates Across Georgetown, Vermilion County, Illinois
Local government entities, such as those in Georgetown, Vermilion County, set property tax rates, which can vary significantly even within Illinois. Each year, counties estimate their budgetary needs for providing essential services and then divide this amount by the total assessed value of all taxable properties within their jurisdiction. This calculation determines the property tax rate. While votes and legal frameworks play a role in setting these rates and budgets, this is the core of the annual process.
In Georgetown, the property tax rate is notably higher than both the Illinois median and the national median property tax rate of 1.02%. This difference can be attributed to the specific budgetary requirements and property values within Vermilion County. When compared to other cities in Illinois, Georgetown's property tax rate stands out, highlighting the importance of understanding local tax structures. As property taxes directly impact homeowners, being informed about these rates can help residents manage their financial planning more effectively.
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 Georgetown Tax Rate
2.38%
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 Vermilion County Tax Rate
2.53%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Georgetown, Vermilion County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61846 | 1.08% | 1.82% | 2.38% | 3.08% | 3.08% |
Source: Ownwell
Property Tax Assessment Values Across Georgetown, Vermilion County, Illinois
When examining property taxes in Georgetown, 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 Vermilion 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 Vermilion 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 Georgetown. For example, the median home price in Georgetown is $64,425, with tax bills ranging significantly across the county. Zip code 61846 has the highest median home price at $64,425.
Property Tax Assessment Values Across Georgetown, Vermilion County, Illinois
Source: Ownwell
$28,646
$72,481
$116,316
Median Georgetown Market Value
$64,425
Median Vermilion County Market Value
$59,223
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Georgetown, Vermilion County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61846 | $20,558 | $40,476 | $64,425 | $95,400 | $141,136 |
Source: Ownwell
Property Tax Bills Across Georgetown, Vermilion County, Illinois
Median Georgetown Tax Bill
$1,375
Median Vermilion County Tax Bill
$1,325
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Georgetown, Vermilion County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61846 | $344 | $726 | $1,375 | $2,234 | $3,334 |
Source: Ownwell