Godley, Will County, Illinois Property Taxes

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

Median Godley, IL effective property tax rate: 1.73%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Godley, IL home value: $106,878
Median annual Godley, IL tax bill: $1,870, $530 lower than the national median property tax bill of $2,400.

How are property taxes in Will County calculated?

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

Last Updated March 1, 2025

Godley, Will County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.73%

Estimate Property Tax Bill

$1,849

$1,716

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

Local government entities are responsible for setting property tax rates, and these rates can differ significantly across a state. This variation occurs because each county calculates its budget needs to fund local services and divides this by the total value of all taxable properties within its area, resulting in the property tax rate. Though votes and regulations play a role in determining tax rates and budgets, this is the fundamental process followed each year.

In Godley, located in Will County, the effective property tax rate can be compared to other cities in Illinois and across the United States to gain a clearer understanding of where it stands. Illinois has a median property tax rate of 1.73%, which is notably higher than the national median of 1.02%. This means that property owners in Godley might experience a higher property tax burden compared to the national average. However, understanding these figures helps property owners make informed decisions and explore potential property tax appeal opportunities.

Property Tax Rates Across Godley, 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 Godley Tax Rate

1.73%

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 Godley, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60407	1.20%	1.46%	1.73%	1.81%	1.99%

Source: Ownwell

Property Tax Assessment Values Across Godley, Will County, Illinois

When examining property taxes in Godley, 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 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 Godley. For example, the median home price in Godley is $106,878, with tax bills ranging significantly across the county. Zip code 60407 has the highest median home price at $106,878.

Property Tax Assessment Values Across Godley, Will County, Illinois

Source: Ownwell

$101,070

$390,154

$679,238

Median Godley Market Value

$106,878

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 Godley, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60407	$47,076	$58,683	$106,878	$152,374	$178,592

Source: Ownwell

Property Tax Bills Across Godley, Will County, Illinois

In Godley, located in Will County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in this area is $106,878, and homeowners can expect a tax bill that ranges significantly. For instance, the tax bill at the 25th percentile is $961, while at the 75th percentile, it rises to $2,755, and at the 90th percentile, it reaches $3,284. When compared to the national median property tax bill of $2,400, Godley's tax bills can be both lower and higher, depending on the specific property and its assessed value. Homeowners feeling the burden of these taxes can benefit from Ownwell's property tax appeal services. By analyzing individual assessments and identifying discrepancies, Ownwell can help homeowners potentially lower their tax bills, ensuring they only pay their fair share.

Property Tax Bills Across Godley, Will County, Illinois

Source: Ownwell

$1,870

$11,744

$21,617

Median Godley Tax Bill

$1,870

Median Will County Tax Bill

$6,703

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Godley, Will County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60407	$697	$961	$1,870	$2,755	$3,284

Source: Ownwell