Average Tax Assessment in Knox County
Real Estate Values and Property Tax Valuation in Knox County, Illinois
Knox County has 11,519 properties with a cumulative value of $1.3B, representing 0.18% of all real estate value in Illinois. Property taxes in Knox County totaled $27.0M, with an average homeowner paying $2,415 in property taxes compared to the state average of $5,405. The average property tax rate in Knox County is 2.12%, lower than the state average of 2.47%. Property taxes are calculated 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 | |
|---|---|
| Knox Clerk | (940) 459-2441 |
| TexasFile Clerk Records | - |
| Knox Register of Deeds | (865) 215-2330 |
| Knox Property Valuation | (606) 546-4113 |
| 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 Knox County
Residential Property Taxes by Cities in Knox County
Knox County has an average property tax rate of 2.12%, which is slightly lower than the state average of 2.30%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. The average Knox County property tax bill is $2,415. Property tax rates can vary significantly across the cities in Knox County. The city with the highest effective property tax rate is Dahinda, at 2.57%, while the city with the lowest effective property tax rate is Victoria, at 1.04%. This means that property owners in Dahinda pay more than twice as much in property taxes as those in Victoria. Property taxes are an important source of revenue for local governments in Knox County, and the differences in rates across cities can have a significant impact on the amount of taxes paid.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Knox 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 |
|---|---|---|---|---|---|
| Abingdon | $24,402 | $38,730 | $61,485 | $88,140 | $117,684 |
| Altona | $31,974 | $42,922 | $67,140 | $99,368 | $169,296 |
| Dahinda | $56,562 | $114,878 | $192,990 | $315,622 | $420,798 |
| East Galesburg | $28,233 | $40,718 | $75,450 | $122,482 | $253,788 |
| Galesburg | $15,168 | $37,328 | $66,600 | $113,130 | $164,325 |
| Gilson | $28,227 | $51,210 | $89,670 | $136,335 | $205,020 |
| Knoxville | $48,810 | $69,210 | $96,660 | $132,705 | $178,782 |
| Maquon | $24,870 | $40,485 | $72,390 | $129,052 | $214,440 |
| Oneida | $34,662 | $51,465 | $73,860 | $110,580 | $163,128 |
| Rio | $32,958 | $58,020 | $88,110 | $136,620 | $200,784 |
| Victoria | $22,344 | $34,620 | $52,050 | $96,750 | $175,506 |
| Wataga | $35,220 | $51,810 | $73,680 | $104,370 | $156,330 |
| Williamsfield | $30,375 | $47,842 | $72,345 | $112,102 | $169,590 |
| Yates City | $37,383 | $57,638 | $85,800 | $123,870 | $169,281 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Knox County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Abingdon | $431 | $772 | $1,306 | $2,009 | $2,871 |
| Altona | $542 | $893 | $1,512 | $2,332 | $4,316 |
| Dahinda | $1,066 | $2,622 | $5,176 | $8,748 | $11,799 |
| East Galesburg | $376 | $709 | $1,361 | $2,430 | $6,119 |
| Galesburg | $351 | $768 | $1,482 | $2,603 | $3,994 |
| Gilson | $535 | $995 | $1,820 | $3,081 | $5,085 |
| Knoxville | $838 | $1,316 | $1,950 | $2,939 | $4,268 |
| Maquon | $326 | $826 | $1,662 | $3,220 | $5,471 |
| Oneida | $529 | $1,002 | $1,572 | $2,566 | $4,119 |
| Rio | $550 | $1,137 | $1,982 | $3,416 | $5,106 |
| Victoria | $296 | $657 | $1,199 | $2,515 | $4,413 |
| Wataga | $598 | $973 | $1,482 | $2,314 | $3,711 |
| Williamsfield | $470 | $954 | $1,704 | $2,825 | $4,597 |
| Yates City | $630 | $1,231 | $1,940 | $3,075 | $4,358 |
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 |
|---|---|---|---|---|---|
| Abingdon | 1.77% | 1.99% | 2.12% | 2.28% | 2.44% |
| Altona | 1.70% | 2.08% | 2.25% | 2.35% | 2.55% |
| Dahinda | 1.88% | 2.28% | 2.68% | 2.77% | 2.80% |
| East Galesburg | 1.33% | 1.74% | 1.80% | 1.98% | 2.41% |
| Galesburg | 2.31% | 2.06% | 2.23% | 2.30% | 2.43% |
| Gilson | 1.90% | 1.94% | 2.03% | 2.26% | 2.48% |
| Knoxville | 1.72% | 1.90% | 2.02% | 2.21% | 2.39% |
| Maquon | 1.31% | 2.04% | 2.30% | 2.50% | 2.55% |
| Oneida | 1.53% | 1.95% | 2.13% | 2.32% | 2.53% |
| Rio | 1.67% | 1.96% | 2.25% | 2.50% | 2.54% |
| Victoria | 1.32% | 1.90% | 2.30% | 2.60% | 2.51% |
| Wataga | 1.70% | 1.88% | 2.01% | 2.22% | 2.37% |
| Williamsfield | 1.55% | 1.99% | 2.36% | 2.52% | 2.71% |
| Yates City | 1.69% | 2.14% | 2.26% | 2.48% | 2.57% |
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Real Estate Values in Knox County
The median home price in Knox County, Illinois decreased by 3.33% from October 2022 to October 2023, from $135.0K to $130.5K. Additionally, the home inventory in Knox County decreased from 140 in October 2022 to 119 in October 2023. This indicates that the housing market in Knox County is becoming more competitive, as fewer homes are available for purchase.
Average Home Value in Knox County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Knox County
Last updated: November 2023
Percent Change in New Home Listings in Knox County
Last updated: November 2023
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Mortgage Rates in Knox County
Mortgages in Knox County are a major factor in the local economy. According to recent statistics, there is a total of $53.5 million in outstanding home mortgage loans in the county. This represents 543 individual loans, which is a significant portion of the total home value in the area. The median mortgage rate in Knox County varies across cities, with Abingdon having the highest rate of 4.37% and Dahinda having the lowest rate of 3.87%. This variation in rates can have a significant impact on the affordability of a home loan, and it is important for potential buyers to research the different rates available in their area. Overall, mortgages in Knox County are an important part of the local economy and can be a great way for people to purchase a home.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Knox County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Abingdon | $28,438 | $54,856 | $64,919 | $77,979 | $116,042 |
| Altona | $19,062 | $31,919 | $59,194 | $70,965 | $79,276 |
| Dahinda | $102,761 | $126,541 | $171,320 | $262,008 | $324,745 |
| East Galesburg | $19,300 | $24,198 | $50,810 | $151,411 | $281,696 |
| Galesburg | $31,321 | $47,870 | $71,101 | $99,768 | $148,092 |
| Gilson | $52,570 | $82,668 | $93,035 | $129,271 | $145,969 |
| Knoxville | $36,740 | $71,088 | $95,113 | $123,894 | $169,468 |
| Maquon | $5,537 | $16,198 | $27,831 | $103,395 | $178,930 |
| Oneida | $29,194 | $35,409 | $73,912 | $102,769 | $153,466 |
| Rio | $58,893 | $82,771 | $126,574 | $172,242 | $230,477 |
| Victoria | $19,293 | $27,907 | $45,047 | $80,015 | $174,589 |
| Wataga | $23,056 | $37,469 | $61,681 | $79,395 | $108,688 |
| Williamsfield | $38,922 | $51,658 | $80,679 | $102,726 | $170,696 |
| Yates City | $26,079 | $32,433 | $73,694 | $101,949 | $115,260 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Knox County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Abingdon | 3.08% | 3.82% | 4.37% | 4.87% | 5.75% |
| Altona | 3.25% | 3.77% | 4.36% | 4.83% | 6.15% |
| Dahinda | 2.85% | 3.25% | 3.87% | 4.33% | 4.75% |
| East Galesburg | 3.25% | 3.54% | 4.22% | 4.87% | 5.58% |
| Galesburg | 3.00% | 3.57% | 4.12% | 4.75% | 5.50% |
| Gilson | 2.70% | 3.12% | 4.08% | 4.50% | 6.00% |
| Knoxville | 2.90% | 3.50% | 4.12% | 4.75% | 5.38% |
| Maquon | 3.37% | 3.75% | 4.11% | 4.50% | 4.90% |
| Oneida | 3.23% | 3.64% | 4.00% | 4.50% | 5.25% |
| Rio | 3.40% | 3.63% | 4.00% | 4.75% | 6.00% |
| Victoria | 2.75% | 3.80% | 4.12% | 4.50% | 5.29% |
| Wataga | 3.00% | 3.58% | 3.90% | 4.37% | 5.48% |
| Williamsfield | 3.07% | 3.71% | 4.18% | 4.75% | 5.77% |
| Yates City | 3.10% | 3.66% | 4.05% | 4.65% | 5.25% |
Housing Expenses in Knox County, Illinois
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