Average Tax Assessment in Ford County
Real Estate Values and Property Tax Valuation in Ford County, Illinois
Ford County has 6,055 properties with a cumulative value of $624.9M. This represents 0.09% of all real estate value in Illinois. Property taxes in Ford County totaled $16.2M, with an average homeowner paying $2,703 in property taxes compared to the state average of $5,405. The average property tax rate in Ford County is 2.60%, higher than the state average of 2.47%. 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 | |
|---|---|
| Ford Assessor | (217) 379-4132 |
| Ford Treasurer | (620) 227-4536 |
| 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 |
Don't Miss Your Property Tax Appeal Deadline
Real Estate Statistics in Ford County
Residential Property Taxes by Cities in Ford County
Ford County has an average property tax rate of 2.60%, which is slightly lower than the average rate for the rest of the state. This rate is applied to the assessed value of a property to calculate the amount of taxes due. Property taxes in Ford County are collected by the county government and are used to fund public services such as schools, roads, and public safety.
Property tax rates in Ford County vary across the cities, with Sibley having the highest effective rate of 2.8%, and Gibson City having the lowest rate of 2.49%. The difference in rates is due to the varying assessed values of properties in each city. Property owners in Sibley pay more in taxes than those in Gibson City, but the overall rate is still lower than the state average.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Ford 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 |
|---|---|---|---|---|---|
| Gibson City | $47,082 | $73,050 | $103,620 | $154,680 | $218,766 |
| Melvin | $19,170 | $37,800 | $60,900 | $104,610 | $207,522 |
| Paxton | $44,898 | $65,318 | $85,635 | $117,780 | $164,430 |
| Piper City | $25,800 | $39,300 | $69,900 | $100,620 | $155,154 |
| Roberts | $19,986 | $34,200 | $60,000 | $103,170 | $164,658 |
| Sibley | $26,025 | $38,550 | $64,455 | $104,985 | $222,669 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Ford County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Gibson City | $829 | $1,523 | $2,437 | $3,936 | $5,898 |
| Melvin | $268 | $577 | $1,263 | $2,849 | $6,223 |
| Paxton | $896 | $1,546 | $2,219 | $3,219 | $4,783 |
| Piper City | $363 | $890 | $1,644 | $2,772 | $4,324 |
| Roberts | $302 | $657 | $1,330 | $3,075 | $5,348 |
| Sibley | $378 | $775 | $1,576 | $2,996 | $7,080 |
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 |
|---|---|---|---|---|---|
| Gibson City | 1.76% | 2.08% | 2.35% | 2.54% | 2.70% |
| Melvin | 1.40% | 1.53% | 2.07% | 2.72% | 3.00% |
| Paxton | 2.00% | 2.37% | 2.59% | 2.73% | 2.91% |
| Piper City | 1.41% | 2.26% | 2.35% | 2.75% | 2.79% |
| Roberts | 1.51% | 1.92% | 2.22% | 2.98% | 3.25% |
| Sibley | 1.45% | 2.01% | 2.45% | 2.85% | 3.18% |
Reduce your property tax bill with Ownwell!
Real Estate Values in Ford County
The median home price in Ford County, Illinois decreased by 55.79% from October 2022 to October 2023, from $228.4K to $101.0K. This indicates a significant decrease in home prices in the area. The home inventory in Ford County remained the same during this period, suggesting that the decrease in home prices was due to other factors such as a decrease in demand or an increase in supply. This trend is likely reflective of the overall housing market in Illinois, which has seen a decrease in home prices in recent years.
Average Home Value in Ford County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Ford County
Last updated: November 2023
Percent Change in New Home Listings in Ford County
Last updated: November 2023
Reduce your property tax bill with Ownwell
Mortgage Rates in Ford County
Ford County has a total of $168.9M in outstanding home mortgage loans, with 1.7K loans in total. This represents a significant portion of the total home value in the county, indicating that homeowners in Ford County are taking advantage of the current low interest rates.
The median mortgage rate in Ford County varies across cities, with Piper City having the highest rate of 4.3%, while Sibley has the lowest rate of 3.92%. This difference of 0.38% is relatively small, but it can still have a significant impact on the total cost of a loan over the life of the loan. Homeowners in Ford County should shop around to find the best rate for their particular situation.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Ford County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Gibson City | $38,509 | $60,777 | $92,076 | $128,981 | $166,995 |
| Melvin | $21,938 | $34,704 | $52,891 | $101,171 | $195,033 |
| Paxton | $34,415 | $52,052 | $73,964 | $110,248 | $151,545 |
| Piper City | $19,312 | $34,958 | $54,417 | $79,634 | $106,845 |
| Roberts | $22,948 | $33,443 | $58,543 | $85,713 | $125,365 |
| Sibley | $29,353 | $44,152 | $64,279 | $108,927 | $239,801 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Ford County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Gibson City | 2.90% | 3.50% | 4.12% | 5.00% | 6.25% |
| Melvin | 3.10% | 3.51% | 4.14% | 4.90% | 6.33% |
| Paxton | 2.90% | 3.44% | 4.02% | 4.75% | 6.04% |
| Piper City | 2.91% | 3.48% | 4.30% | 5.13% | 6.34% |
| Roberts | 2.94% | 3.49% | 4.10% | 4.72% | 6.32% |
| Sibley | 3.00% | 3.57% | 3.92% | 4.75% | 6.11% |
Housing Expenses in Ford County, Illinois
Reduce your property tax bill with Ownwell
With Ownwell's property tax monitoring service ensures you'll never overpay on property taxes again.
How Ownwell works?
- Enter your property address and get an instant estimate of your potential tax savings based on local market data and our historical tax savings in your area.
- Sign up online and authorize Ownwell to fight your tax bill in less than 5 minutes.
- Sit back and let us get to work. Ownwell handles everything start to finish with no up-front costs. It’s all backed by our industry-leading Savings-or-Free Guarantee.
- When we save you money our fee is just 25% of your savings. If you don't save, you don't pay. We will continue to monitor your property taxes every year to ensure that you never overpay or have to worry about your property taxes again.