Average Tax Assessment in Bond County
Real Estate Values and Property Tax Valuation in Bond County, Illinois
Bond County has 818 properties with a cumulative value of $52.5M, representing 0.007% of all real estate value in Illinois. The county collected $1.3M in property taxes from these properties, with an average property tax rate of 2.43%. The average Bond County homeowner pays $1,663 in property taxes compared to the state average of $5,405. Property taxes are based on the assessed value of the property, which is typically lower than the market value.
In Illinois, property taxes are based on the value of the property as of January 1st. Property owners have the option to appeal their property taxes between June and December, or within 30 days of when the notices are published. Property tax bills are issued on February 1st and July 1st, with the first installment due on June 1st in Cook County. This first installment is estimated at 55% of the prior year's tax bill, with taxes paid in arrears.
Updated November 01, 2023
| Important Links | |
|---|---|
| Bond Recorder of Deeds | (618) 664-0449 |
| Bond Treasurer | (618) 664-0618 |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Tax Appeal Deadline: | June - December or 30 days after notices are published |
| Property Tax Bills Issued: | February 1st and July 1st |
| Real Property Tax Bill Due (1st of #): | June, Two installments but due dates may vary by county March 1st, Cook County - 1st half installment, estimated at 55% of prior year tax bill with taxes paid in arrears. |
| Real Property Tax Bill Due (2nd of #): | September, Two installments but due dates may vary by county August 1, Cook County - 2nd half installment - TARGETED but may be delayed - due 30 days after being issued. Reconciled installment using the BOR certified AV, actual local tax rate, and final state equalization factor, less the estimated 1st installment with taxes paid in arrears |
| Available Exemptions | |
|---|---|
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Bond County
Residential Property Taxes by Cities in Bond County
Bond County has an average property tax rate of 2.43%, which is slightly lower than the national average of 2.48%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. The average Bond County property tax bill is estimated to be $1,663. Property taxes in Bond County vary across cities, with Greenville having the highest effective property tax rate of 2.61%. This is slightly higher than the county average, but still lower than the national average. Other cities in Bond County have lower effective property tax rates, ranging from 1.90% to 2.43%. This means that property owners in Bond County can expect to pay lower taxes than the national average.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Bond County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Greenville | $0 | $24,111 | $49,800 | $90,894 | $156,063 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Bond County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Greenville | $196 | $845 | $1,333 | $2,388 | $4,603 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Greenville | - | 3.50% | 2.68% | 2.63% | 2.95% |
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Real Estate Values in Bond County
The data from Redfin indicates that there is no change in median home price in Bond County from October 2022 to October 2023. However, there is a decrease in home inventory from 35 in October 2022 to 33 in October 2023. This suggests that the demand for homes in Bond County is increasing, which could lead to an increase in home prices in the future.
Average Home Value in Bond County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Bond County
Last updated: November 2023
Percent Change in New Home Listings in Bond County
Last updated: November 2023
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Mortgage Rates in Bond County
Mortgages in Bond County are a significant part of the local economy, with a total outstanding loan amount of $11.5 million across 105 loans. This represents a significant portion of the total home value in the county, with the median mortgage rate in Greenville being 4.19%. This rate is slightly higher than the national average, but still provides an attractive option for potential homebuyers.
The variation in mortgage rates across Bond County is relatively small, with the median rate in Greenville being the same as the lowest rate in the county. This means that potential homebuyers in Bond County can expect to find competitive rates regardless of where they are looking to purchase a home. With the total outstanding loan amount being so high, it is clear that mortgages are an important part of the local economy.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Bond County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Greenville | $25,655 | $45,730 | $94,341 | $151,066 | $300,008 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Bond County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Greenville | 2.93% | 3.60% | 4.19% | 5.00% | 6.35% |
Housing Expenses in Bond County, Illinois
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