Quantcast

Kankakee Times

Monday, May 20, 2024

Analysis: Kankakee County effective property tax rate outpaced the national average in Q1

Re 1

Property owners in Kankakee County paid 2.6% the value of their homes in property taxes in the first quarter of 2023 which is more than 2.4 times the national average, according to the real estate analysis posted by the Kankakee Times.

The median sales price of a Kankakee County home in the first quarter of 2023 was $137,500, based on data from the 192 properties sold during that time. In 2021 the median tax bill for the county was $3,591, which is 2.6% of the median value of the homes that were taxed.

This is 2.4 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Kankakee County real estate data showed homeowners in Manteno, Kankakee, and Grant Park paid the highest rates.

The following table compares Manteno with some other cities belonging to Kankakee County by their median effective property tax rate, calculated using sales and property tax data from the first quarter of 2023.

CityQ1 2023 SalesQ1 2023 Median PriceMedian tax 2023Effective tax rate
Manteno20$216,000$6,8863.2%
Kankakee73$105,000$3,2833.1%
Grant Park5$159,900$4,8833.1%
St. Anne5$94,000$2,8353%
Bradley39$137,500$4,0212.9%
Limestone3$130,000$3,7142.9%
Herscher3$150,000$4,3432.9%
Aroma Park2$105,325$3,0092.9%
Bourbonnais25$205,000$5,2702.6%
Chebanse2$167,500$4,2612.5%
Momence8$141,500$2,9662.1%
Bonfield1$300,000$4,5891.5%
Reddick1$286,000$3,6651.3%

MORE NEWS