Average Tax Assessment in Kankakee County
Real Estate Values and Property Tax Valuation in Kankakee County, Illinois
Kankakee County has a total of 4,092 properties with a cumulative value of $646.1M. This accounts for 0.09% of all real estate value in Illinois. Property taxes in Kankakee County totaled $18.8M, with an average homeowner paying $4,659 in property taxes, which is lower than the state average of $5,405. The average property tax rate in Kankakee County is 2.91%, 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 | |
|---|---|
| Kankakee Recorder of Deeds | (815) 937-2980 |
| 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 Kankakee County
Residential Property Taxes by Cities in Kankakee County
Kankakee County has an average property tax rate of 2.91%, which is slightly higher than the national average of 2.07%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. The average Kankakee County property tax bill is $4,659. Property tax rates in Kankakee County vary across cities, with Kankakee having the highest effective property tax rate at 3.43%, and Grant Park having the lowest at 2.54%. This means that property owners in Kankakee will pay more in taxes than those in Grant Park. The difference in rates is significant enough that it can have a major impact on the amount of taxes due. It is important for property owners to be aware of the rates in their city in order to plan for their tax bills.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Kankakee 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 |
|---|---|---|---|---|---|
| Bourbonnais | $72,991 | $121,456 | $164,931 | $217,965 | $324,420 |
| Grant Park | $54,471 | $137,632 | $205,479 | $264,273 | $325,860 |
| Kankakee | $32,284 | $42,395 | $72,327 | $141,959 | $259,812 |
| Manteno | $87,089 | $132,636 | $171,300 | $230,241 | $316,450 |
| Momence | $22,047 | $59,385 | $118,614 | $213,852 | $318,591 |
| Saint Anne | $40,104 | $65,843 | $115,544 | $181,903 | $258,920 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Kankakee County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bourbonnais | $1,866 | $3,251 | $4,356 | $6,312 | $9,714 |
| Grant Park | $1,525 | $3,426 | $5,143 | $6,519 | $8,384 |
| Kankakee | $1,294 | $1,871 | $2,987 | $4,863 | $7,799 |
| Manteno | $2,867 | $4,067 | $5,236 | $7,363 | $10,137 |
| Momence | $794 | $1,491 | $3,153 | $5,387 | $7,941 |
| Saint Anne | $1,120 | $2,115 | $3,470 | $5,875 | $8,426 |
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 |
|---|---|---|---|---|---|
| Bourbonnais | 2.56% | 2.68% | 2.64% | 2.90% | 2.99% |
| Grant Park | 2.80% | 2.49% | 2.50% | 2.47% | 2.57% |
| Kankakee | 4.01% | 4.41% | 4.13% | 3.43% | 3.00% |
| Manteno | 3.29% | 3.07% | 3.06% | 3.20% | 3.20% |
| Momence | 3.60% | 2.51% | 2.66% | 2.52% | 2.49% |
| Saint Anne | 2.79% | 3.21% | 3.00% | 3.23% | 3.25% |
Reduce your property tax bill with Ownwell!
Real Estate Values in Kankakee County
The median home price in Kankakee County, Illinois has increased by 9.63% from October 2022 to October 2023, from $187.0K to $205.0K. This indicates a strong housing market in the area. However, the home inventory in Kankakee County has decreased from 360 in October 2022 to 256 in October 2023, indicating a decrease in the number of homes available for sale. This could be due to a combination of factors, such as an increase in demand for homes in the area or a decrease in the number of homes being listed for sale.
Average Home Value in Kankakee County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Kankakee County
Last updated: November 2023
Percent Change in New Home Listings in Kankakee County
Last updated: November 2023
Reduce your property tax bill with Ownwell
Mortgage Rates in Kankakee County
Kankakee County has a total of $106.7M in outstanding home mortgage loans. This amount represents 559 loans, which is a significant portion of the total home value in the county. The median mortgage rate in Kankakee County varies across cities, with Grant Park having the highest rate of 4.08%, while Bourbonnais has the lowest rate of 3.63%. This variation in rates can be attributed to the different economic and housing conditions in each city.
Overall, Kankakee County has a relatively high amount of outstanding home mortgage loans, which is indicative of a strong housing market in the area. The variation in mortgage rates across cities provides potential homebuyers with more options when it comes to finding the best deal. With a wide range of mortgage rates available, Kankakee County is an attractive option for those looking to purchase a home.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Kankakee County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bourbonnais | $65,804 | $97,806 | $172,899 | $245,446 | $301,462 |
| Grant Park | $86,853 | $128,276 | $205,589 | $275,904 | $395,499 |
| Kankakee | $22,712 | $35,048 | $80,351 | $142,799 | $279,016 |
| Manteno | $65,966 | $111,087 | $159,678 | $216,509 | $309,942 |
| Momence | $56,136 | $95,269 | $183,561 | $246,013 | $405,490 |
| Saint Anne | $118,455 | $148,734 | $193,673 | $332,527 | $531,459 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Kankakee County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bourbonnais | 2.70% | 3.00% | 3.63% | 4.62% | 5.50% |
| Grant Park | 3.08% | 3.50% | 4.08% | 4.53% | 5.40% |
| Kankakee | 2.80% | 3.25% | 3.96% | 4.65% | 5.50% |
| Manteno | 2.70% | 2.99% | 3.75% | 4.63% | 5.25% |
| Momence | 2.79% | 2.90% | 3.78% | 4.64% | 5.85% |
| Saint Anne | 2.86% | 3.50% | 3.88% | 4.31% | 4.97% |
Housing Expenses in Kankakee 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.