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Kankakee Times

Friday, November 22, 2024

Analysis: Kankakee County effective property tax rates outpaced the national average in Q2 2023

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Kankakee County Recorder Lori Gadbois (2023) | https://www.facebook.com/LoriGadboisRecorder/

Kankakee County Recorder Lori Gadbois (2023) | https://www.facebook.com/LoriGadboisRecorder/

Property owners in Kankakee County paid 2.4% of the value of their homes in property taxes in the second quarter of 2023, which is more than 2.2 times the national average, according to the real estate analysis posted by Kankakee Times.

The median sales price of a Kankakee County home in the second quarter of 2023 was $170,000, based on data from the 357 properties sold during that time. In 2023, the median tax bill for the county was $4,094, which is 2.4% of the median value of the homes that were taxed.

This is 2.2 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 Chebanse, St. Anne, and Kankakee paid the highest rates.

The above article calculates the effective property tax rate for 2023 using estimated inflation values and 2021 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

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

CityQ2 2023 SalesQ2 2023 Median PriceMedian tax 2023Effective tax rate
Chebanse2$76,500$4,2615.6%
St. Anne5$85,000$2,8353.3%
Kankakee122$107,700$3,2833%
Grant Park6$167,500$4,8832.9%
Manteno38$247,500$6,8862.8%
Bradley62$166,000$4,0212.4%
Herscher3$179,900$4,3432.4%
Limestone5$164,500$3,7142.3%
Bourbonnais68$240,000$5,2702.2%
Momence21$152,000$2,9662%
Essex3$201,000$3,7721.9%
Aroma Park4$167,500$3,0091.8%
Bonfield4$380,000$4,5891.2%

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