Average Tax Assessment in Jo Daviess County
Real Estate Values and Property Tax Valuation in Jo Daviess County, Illinois
Jo Daviess County has 626 properties with a cumulative value of $93.1M, representing 0.01% of all real estate value in Illinois. Property taxes in Jo Daviess County totaled $2.2M, with an average homeowner paying $3,581 in property taxes compared to the state average of $5,405. The average property tax rate in Jo Daviess County is 2.41%, lower than the state average of 2.47%. Property taxes are based on the assessed value of the property, which is determined by the local assessor.
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 | |
|---|---|
| Jo Daviess Assessor | (815) 777-1016 |
| 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 Jo Daviess County
Residential Property Taxes by Cities in Jo Daviess County
Jo Daviess County has an average property tax rate of 2.41%, which is slightly lower than the state average of 2.48%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. The average property tax bill in Jo Daviess County is $3,581, which is slightly higher than the state average of $3,541.
Property tax rates vary across the cities in Jo Daviess County. Galena has the highest effective property tax rate at 2.39%, while the other cities have rates ranging from 1.90% to 2.30%. This means that property owners in Galena will pay more in taxes than those in other cities. However, the difference in rates is not significant enough to make a major impact on the overall property tax burden.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Jo Daviess 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 |
|---|---|---|---|---|---|
| Galena | $63,372 | $84,759 | $112,611 | $193,425 | $268,047 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Jo Daviess County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Galena | $1,555 | $2,011 | $2,920 | $4,606 | $6,335 |
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 |
|---|---|---|---|---|---|
| Galena | 2.45% | 2.37% | 2.59% | 2.38% | 2.36% |
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Real Estate Values in Jo Daviess County
The data from Redfin shows that home prices in Jo Daviess County, Illinois have increased significantly from October 2022 to October 2023. The median home price in October 2023 was $300.0K, an increase of 85.19% from the median home price of $162.0K in October 2022. At the same time, the home inventory in Jo Daviess County decreased from 154 in October 2022 to 104 in October 2023. This indicates that the demand for homes in Jo Daviess County is increasing, driving up prices.
Average Home Value in Jo Daviess County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Jo Daviess County
Last updated: November 2023
Percent Change in New Home Listings in Jo Daviess County
Last updated: November 2023
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Mortgage Rates in Jo Daviess County
Mortgages in Jo Daviess County are a major source of financing for homeowners in the area. According to recent statistics, there is a total of $7.5M in outstanding loans across the county. This represents 59 outstanding loans, which is a significant amount for the area. The median mortgage rate in Jo Daviess County is 3.25%, which is slightly lower than the national average. This rate is consistent across all cities in the county, with Galena having the highest median rate.
The total outstanding loan amount in Jo Daviess County is relatively small compared to the total home value in the area. This means that the percentage of total home value that is financed by mortgages is relatively low. However, there is still a significant variation in mortgage rates across the county, with Galena having the highest median rate. This variation in rates can make it difficult for homeowners to find the best deal when shopping for a mortgage.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Jo Daviess County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Galena | $68,388 | $93,526 | $116,901 | $169,022 | $237,927 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Jo Daviess County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Galena | 2.71% | 2.95% | 3.25% | 3.91% | 4.50% |
Housing Expenses in Jo Daviess County, Illinois
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