Channahon, Will County, Illinois Property Taxes

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

Median Channahon, IL effective property tax rate: 2.67%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Channahon, IL home value: $254,964
Median annual Channahon, IL tax bill: $6,780, $4,380 higher than the national median property tax bill of $2,400.

How are property taxes in Will County calculated?

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

Last Updated March 1, 2025

Channahon, Will County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.67%

Estimate Property Tax Bill

$6,808

$6,317

Ownwell’s Channahon Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Channahon with just two data points. By entering your property's estimated assessed value, our calculator applies Channahon’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 Channahon, Will County, Illinois

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget annually to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results 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.

Channahon, located in Will County, Illinois, has an effective property tax rate of 2.67%, which is significantly higher than the national median property tax rate of 1.02%. This means that residents in Channahon pay more in property taxes compared to the average American homeowner. The median property tax bill nationwide is $2,400, which can be contrasted with the higher payments expected in Channahon due to its elevated tax rate. Understanding these differences can help property owners make informed decisions about their real estate investments and financial planning. For those considering a move or investment in Illinois, being aware of these tax implications is crucial.

Property Tax Rates Across Channahon, 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 Channahon Tax Rate

2.67%

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 Channahon, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60410	2.36%	2.57%	2.67%	2.73%	2.90%

Source: Ownwell

Property Tax Assessment Values Across Channahon, Will County, Illinois

When examining property taxes in Channahon, 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 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 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 Channahon.

For example, the median home price in Channahon is $254,964, with tax bills ranging significantly across the county. Zip code 60410 has the highest median home price at $254,964.

Property Tax Assessment Values Across Channahon, Will County, Illinois

Source: Ownwell

$101,070

$390,154

$679,238

Median Channahon Market Value

$254,964

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 Channahon, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60410	$174,953	$209,710	$254,964	$306,160	$368,514

Source: Ownwell

Property Tax Bills Across Channahon, Will County, Illinois

In Channahon, located in Will County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Homeowners in Channahon face a median property tax bill of $6,780, significantly higher than the national median of $2,400. This high tax bill reflects the region's above-average property values and tax rates. Factors such as local government budgets, school funding, and community services influence these rates. For homeowners, this can mean a substantial financial burden, especially if property values increase. Ownwell offers a solution by providing property tax appeal and exemption services, helping homeowners potentially reduce their tax bills. By analyzing assessment data and identifying discrepancies, Ownwell can assist in lowering the assessed value, resulting in significant savings. This service ensures homeowners pay only their fair share, alleviating some of the financial pressure associated with high property taxes.

Property Tax Bills Across Channahon, Will County, Illinois

Source: Ownwell

$1,870

$11,744

$21,617

Median Channahon Tax Bill

$6,780

Median Will County Tax Bill

$6,703

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Channahon, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60410	$4,145	$5,468	$6,780	$8,251	$10,010

Source: Ownwell