Woodford County Property Taxes
The median property tax rate in Woodford County is 2.44%, which is significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Woodford County, the typical annual property tax bill reaches $3,222, surpassing the national median of $2,690. Property taxes in Woodford County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Woodford County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Eureka or another part of Woodford County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Woodford County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.44%
Estimate Property Tax Bill
$3,388
$3,144
Ownwell’s Woodford County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Woodford County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Woodford County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Woodford County, Illinois
Property taxes in Woodford County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Woodford County is 2.44%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Woodford County set these rates annually, and they can vary significantly between different areas within the county. Each year, Woodford County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Metamora has one of the higher property tax rates in the region at 2.58%, while the city of Flanagan boasts one of the lowest at 1.74%. Analyzing how Woodford County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Woodford County Tax Rate
2.44%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodford County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benson | 1.71% | 2.08% | 2.27% | 2.47% | 2.72% |
| Carlock | 1.97% | 2.10% | 2.24% | 2.35% | 2.48% |
| Congerville | 1.92% | 2.07% | 2.22% | 2.29% | 2.47% |
| Dana | 1.93% | 1.93% | 1.93% | 1.93% | 1.93% |
| Danvers | 2.11% | 2.11% | 2.11% | 2.11% | 2.11% |
| Deer Creek | 1.94% | 2.07% | 2.21% | 2.27% | 2.53% |
| East Peoria | 1.95% | 2.22% | 2.39% | 2.60% | 2.67% |
| El Paso | 1.96% | 2.30% | 2.46% | 2.74% | 2.83% |
| Eureka | 1.91% | 2.17% | 2.34% | 2.47% | 2.69% |
| Flanagan | 1.74% | 1.74% | 1.74% | 1.74% | 1.74% |
| Germantown Hills | 2.24% | 2.45% | 2.57% | 2.65% | 2.69% |
| Goodfield | 1.77% | 2.04% | 2.19% | 2.27% | 2.43% |
| Gridley | 1.95% | 2.08% | 2.30% | 2.52% | 2.66% |
| Hudson | 2.15% | 2.30% | 2.39% | 2.44% | 2.52% |
| Kappa | 1.46% | 2.11% | 2.39% | 2.53% | 2.74% |
| Lowpoint | 1.67% | 2.01% | 2.32% | 2.61% | 2.65% |
| Metamora | 2.14% | 2.37% | 2.58% | 2.77% | 3.11% |
| Minonk | 1.80% | 2.26% | 2.54% | 3.01% | 3.01% |
| Panola | 2.04% | 2.18% | 2.39% | 2.69% | 2.83% |
| Roanoke | 1.89% | 2.31% | 2.54% | 2.73% | 3.05% |
| Secor | 1.92% | 2.14% | 2.32% | 3.19% | 3.19% |
| Spring Bay | 1.76% | 2.10% | 2.37% | 2.69% | 2.69% |
| Washburn | 1.73% | 2.23% | 2.53% | 3.13% | 3.13% |
Source: Ownwell
Property Tax Assessment Values Across Woodford County, Illinois
In Woodford County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Woodford County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Woodford County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For example, Danvers has the highest median tax bill at $6,652, while Flanagan has the lowest at $1,014. Being aware of these valuation processes in Woodford County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Woodford County, Illinois
Source: Ownwell
$58,215
$165,922
$273,628
Average Woodford County Assessed Value
$138,837
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodford County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benson | $38,781 | $71,235 | $106,080 | $148,818 | $196,851 |
| Carlock | $6,646 | $40,676 | $178,392 | $274,378 | $355,543 |
| Congerville | $5,783 | $58,857 | $176,628 | $257,886 | $335,918 |
| Dana | $179,733 | $179,733 | $179,733 | $179,733 | $179,733 |
| Danvers | $240,740 | $253,073 | $273,628 | $294,184 | $306,517 |
| Deer Creek | $16,804 | $171,199 | $224,636 | $252,076 | $311,717 |
| East Peoria | $12,391 | $84,855 | $146,655 | $210,675 | $272,558 |
| El Paso | $12,360 | $74,963 | $122,706 | $185,135 | $259,737 |
| Eureka | $8,832 | $92,454 | $144,828 | $192,062 | $246,629 |
| Flanagan | $58,215 | $58,215 | $58,215 | $58,215 | $58,215 |
| Germantown Hills | $130,492 | $180,615 | $227,196 | $295,268 | $346,942 |
| Goodfield | $31,972 | $111,524 | $180,123 | $255,872 | $307,154 |
| Gridley | $101,909 | $102,710 | $104,043 | $232,707 | $309,905 |
| Hudson | $100,461 | $206,073 | $244,467 | $277,401 | $291,870 |
| Kappa | $30,160 | $73,034 | $113,565 | $148,726 | $167,362 |
| Lowpoint | $17,298 | $46,060 | $87,576 | $147,795 | $204,614 |
| Metamora | $5,873 | $94,953 | $160,851 | $227,175 | $305,456 |
| Minonk | $12,345 | $47,273 | $89,860 | $136,696 | $190,208 |
| Panola | $9,043 | $49,998 | $114,630 | $166,908 | $185,101 |
| Roanoke | $21,110 | $61,908 | $102,585 | $145,690 | $197,619 |
| Secor | $4,535 | $26,870 | $78,711 | $187,982 | $300,714 |
| Spring Bay | $5,857 | $43,365 | $76,683 | $114,807 | $148,865 |
| Washburn | $7,921 | $44,445 | $78,014 | $116,685 | $164,324 |
Source: Ownwell
Property Tax Bills Across Woodford County, Illinois
In Woodford County, IL, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in Woodford County is $138,837. Property tax rates in this region can vary, but the median tax rate is 0.99%, aligning with the national median. Homeowners in this county face tax bills that differ significantly depending on their property's assessed value and specific location. For instance, the 25th percentile tax bill stands at $1,636, while homeowners at the 75th percentile face a tax bill of $5,043. Those at the 90th percentile see an even higher tax bill of $7,068. Cities within Woodford County also show a range in median tax bills, with Danvers having the highest at $6,652 and Flanagan the lowest at $1,014. These variations impact homeowners differently, influencing overall housing affordability and financial planning. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Woodford County Tax Bill
$3,222
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodford County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benson | $722 | $1,409 | $2,276 | $3,400 | $4,674 |
| Carlock | $152 | $973 | $3,926 | $6,007 | $8,205 |
| Congerville | $199 | $1,316 | $3,709 | $5,628 | $7,486 |
| Dana | $3,461 | $3,461 | $3,461 | $3,461 | $3,461 |
| Danvers | $6,652 | $6,652 | $6,652 | $6,652 | $6,652 |
| Deer Creek | $1,211 | $3,407 | $4,944 | $5,871 | $6,955 |
| East Peoria | $333 | $1,766 | $3,256 | $4,974 | $6,599 |
| El Paso | $330 | $1,590 | $2,871 | $4,473 | $6,363 |
| Eureka | $231 | $1,889 | $3,216 | $4,454 | $5,741 |
| Flanagan | $1,014 | $1,014 | $1,014 | $1,014 | $1,014 |
| Germantown Hills | $2,943 | $4,291 | $5,616 | $7,654 | $9,217 |
| Goodfield | $979 | $2,189 | $3,894 | $5,601 | $6,841 |
| Gridley | $2,691 | $3,896 | $5,905 | $7,913 | $9,119 |
| Hudson | $4,866 | $5,377 | $6,549 | $6,721 | $7,030 |
| Kappa | $476 | $1,464 | $2,552 | $3,573 | $3,947 |
| Lowpoint | $389 | $873 | $1,861 | $3,185 | $4,630 |
| Metamora | $199 | $2,218 | $3,944 | $5,853 | $7,826 |
| Minonk | $356 | $1,047 | $2,050 | $3,333 | $4,920 |
| Panola | $256 | $1,159 | $2,731 | $3,938 | $4,479 |
| Roanoke | $529 | $1,442 | $2,476 | $3,607 | $5,195 |
| Secor | $131 | $755 | $2,001 | $4,154 | $6,581 |
| Spring Bay | $147 | $743 | $1,648 | $2,514 | $3,518 |
| Washburn | $213 | $941 | $1,872 | $2,873 | $4,063 |
Source: Ownwell