Average Tax Assessment in Carroll County
Real Estate Values and Property Tax Valuation in Carroll County, Illinois
Carroll County has a total of 7,619 properties with a cumulative value of $1.0B. This represents 0.15% of all real estate value in Illinois. Property taxes in Carroll County amount to $23.2M, with an average homeowner paying $3,126 in property taxes, which is lower than the state average of $5,405. The average property tax rate in Carroll County is 2.27%, which is lower than the state average of 2.47%. Property taxes are calculated based on the assessed value of the property.
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 | |
|---|---|
| Carroll Assessor | (712) 792-9973 |
| Carroll Assessor | (770) 830-5812 |
| Carroll Assessor | (765) 564-3444 |
| Carroll Assessor | (731) 986-1975 |
| 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 Carroll County
Residential Property Taxes by Cities in Carroll County
Carroll County has an average property tax rate of 2.27%, which is slightly lower than the state average of 2.3%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. Property taxes in Carroll County are collected by the county government and are used to fund public services such as schools, roads, and public safety.
The effective property tax rate in Carroll County varies across cities. Milledgeville has the highest effective property tax rate at 2.73%, while Lanark has the lowest at 2.02%. This means that property owners in Milledgeville will pay more in taxes than those in Lanark. However, the average property tax bill in Carroll County is still relatively low at $3,126.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Carroll 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 |
|---|---|---|---|---|---|
| Chadwick | $37,118 | $56,136 | $81,719 | $131,673 | $212,259 |
| Lanark | $55,349 | $89,409 | $182,952 | $332,810 | $548,409 |
| Milledgeville | $44,331 | $62,845 | $87,118 | $128,567 | $191,544 |
| Mount Carroll | $33,723 | $51,233 | $80,534 | $126,587 | $195,379 |
| Savanna | $20,144 | $32,376 | $51,191 | $82,539 | $131,248 |
| Shannon | $39,658 | $56,797 | $84,376 | $132,021 | $201,479 |
| Thomson | $30,057 | $54,604 | $91,554 | $143,402 | $192,489 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Carroll County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Chadwick | $635 | $1,200 | $2,072 | $3,402 | $5,626 |
| Lanark | $1,035 | $1,861 | $3,694 | $6,806 | $11,285 |
| Milledgeville | $904 | $1,539 | $2,396 | $3,697 | $5,742 |
| Mount Carroll | $618 | $1,149 | $2,041 | $3,362 | $5,337 |
| Savanna | $383 | $707 | $1,363 | $2,249 | $3,530 |
| Shannon | $589 | $992 | $1,757 | $2,813 | $4,412 |
| Thomson | $625 | $1,189 | $2,226 | $3,618 | $5,324 |
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 |
|---|---|---|---|---|---|
| Chadwick | 1.71% | 2.14% | 2.54% | 2.58% | 2.65% |
| Lanark | 1.87% | 2.08% | 2.02% | 2.05% | 2.06% |
| Milledgeville | 2.04% | 2.45% | 2.75% | 2.88% | 3.00% |
| Mount Carroll | 1.83% | 2.24% | 2.53% | 2.66% | 2.73% |
| Savanna | 1.90% | 2.18% | 2.66% | 2.72% | 2.69% |
| Shannon | 1.49% | 1.75% | 2.08% | 2.13% | 2.19% |
| Thomson | 2.08% | 2.18% | 2.43% | 2.52% | 2.77% |
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Real Estate Values in Carroll County
The data from Redfin shows that home prices in Carroll County, Illinois have decreased significantly from October 2022 to October 2023. The median home price in October 2023 was $84.0K, which is a decrease of 29.41% from the median home price in October 2022 of $119.0K. Additionally, the home inventory in Carroll County decreased from 78 in October 2022 to 48 in October 2023. This indicates that the housing market in Carroll County is becoming more competitive, as fewer homes are available for sale.
Average Home Value in Carroll County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Carroll County
Last updated: November 2023
Percent Change in New Home Listings in Carroll County
Last updated: November 2023
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Mortgage Rates in Carroll County
Carroll County has a total of $65.1 million in outstanding home mortgage loans. This represents 549 loans, or an average of $118,000 per loan. The median mortgage rate in Carroll County is 3.83%, which is slightly lower than the national average of 3.9%. However, there is significant variation in mortgage rates across the county. The city of Savanna has the highest median mortgage rate at 3.9%, while the city of Thomson has the lowest median mortgage rate at 3.76%. This difference of 0.14% can make a significant difference in the total cost of a loan over its lifetime.
Overall, Carroll County has a relatively low median mortgage rate compared to the national average. However, it is important to consider the variation in rates across the county when shopping for a mortgage. Taking the time to compare rates across cities can help borrowers save money in the long run.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Carroll County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Chadwick | $14,671 | $41,675 | $65,943 | $88,955 | $122,351 |
| Lanark | $44,240 | $83,023 | $152,057 | $235,417 | $369,154 |
| Milledgeville | $32,654 | $48,060 | $81,658 | $119,875 | $142,143 |
| Mount Carroll | $35,044 | $52,075 | $74,373 | $104,379 | $165,680 |
| Savanna | $21,869 | $34,281 | $51,788 | $95,092 | $139,210 |
| Shannon | $18,676 | $32,167 | $64,476 | $84,082 | $102,200 |
| Thomson | $36,015 | $71,092 | $113,696 | $155,720 | $186,364 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Carroll County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Chadwick | 2.89% | 3.48% | 3.87% | 4.32% | 4.97% |
| Lanark | 2.87% | 3.25% | 3.77% | 4.12% | 4.60% |
| Milledgeville | 2.90% | 3.37% | 3.78% | 4.50% | 5.37% |
| Mount Carroll | 2.90% | 3.43% | 3.87% | 4.33% | 4.89% |
| Savanna | 2.90% | 3.46% | 3.90% | 4.40% | 4.96% |
| Shannon | 2.80% | 3.48% | 3.87% | 4.47% | 5.17% |
| Thomson | 2.88% | 3.12% | 3.76% | 4.12% | 4.75% |
Housing Expenses in Carroll County, Illinois
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