Braidwood, Will County, Illinois Property Taxes

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

Median Braidwood, IL effective property tax rate: 2.06%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Braidwood, IL home value: $181,458
Median annual Braidwood, IL tax bill: $3,620, $1,220 higher than the national median property tax bill of $2,400.

How are property taxes in Will County calculated?

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

Last Updated March 1, 2025

Braidwood, Will County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.06%

Estimate Property Tax Bill

$3,738

$3,469

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

Property Tax Rates Across Braidwood, Will 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 votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.

Braidwood in Will County, Illinois, has an effective property tax rate of 2.06%, which is significantly higher than the national median of 1.02%. This makes Braidwood's property tax rate one of the highest in the state. The median property tax bill in Braidwood also surpasses the national median of $2,400, reflecting the higher tax rate.

Comparatively, Illinois is known for its high property tax rates, and Braidwood exemplifies this trend. Property owners in this area face substantial tax bills, which can impact decisions on purchasing or maintaining property. Understanding these rates and how they compare on a state and national level can be crucial for property owners when evaluating their financial commitments and planning for future investments.

Property Tax Rates Across Braidwood, Will County, Illinois

Source: Ownwell

1.73%

3.67%

5.61%

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 Braidwood Tax Rate

2.06%

Median Effective Will County Tax Rate

2.62%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Braidwood, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60408	1.67%	1.95%	2.06%	2.11%	2.19%

Source: Ownwell

Property Tax Assessment Values Across Braidwood, Will County, Illinois

When examining property taxes in Braidwood, 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 Will County assessment 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.

Assessment notices:

In Will 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 Braidwood.

For example, the median home price in Braidwood is $181,458, with tax bills ranging significantly across the county. ZIP code 60408 has the highest median home price at $181,458.

Property Tax Assessment Values Across Braidwood, Will County, Illinois

Source: Ownwell

$101,070

$390,154

$679,238

Median Braidwood Market Value

$181,458

Median Will County Market Value

$251,502

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Braidwood, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60408	$111,329	$150,441	$181,458	$216,710	$260,872

Source: Ownwell

Property Tax Bills Across Braidwood, Will County, Illinois

In Braidwood, located in Will County, IL, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, and local tax rates are applied to this assessed value to determine the tax bill. With a median home price of $181,458, homeowners in Braidwood can expect property tax bills that vary significantly. For instance, the 25th percentile tax bill is $2,810, while the 75th percentile reaches $4,451, and the 90th percentile climbs to $5,567. These figures highlight the potential financial impact on homeowners, especially when compared to the national median property tax bill of $2,400. Ownwell can assist homeowners by providing expert property tax appeal services, ensuring that their property is accurately assessed and that they are not overpaying on their tax bills. By leveraging local expertise and a thorough understanding of tax regulations, Ownwell helps homeowners potentially save hundreds or even thousands of dollars annually on their property taxes.

Property Tax Bills Across Braidwood, Will County, Illinois

Source: Ownwell

$1,870

$11,744

$21,617

Median Braidwood Tax Bill

$3,620

Median Will County Tax Bill

$6,703

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Braidwood, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60408	$1,843	$2,810	$3,620	$4,451	$5,567

Source: Ownwell