Average Tax Assessment in Will County
Real Estate Values and Property Tax Valuation in Will County, Illinois
Will County has a total of 219,748 properties with a cumulative value of $56.2B, making up 8.01% of all real estate value in Illinois. Property taxes in Will County totaled $1.5B, with an average homeowner paying $6,872 in property taxes compared to the state average of $5,405. The average property tax rate in Will County is 2.68%, higher than the state average of 2.47%. Properties are typically valued for tax purposes based on their estimated 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 | |
|---|---|
| Will Treasurer | (815) 740-4675 |
| Will Recorder of Deeds | (815) 740-4637 |
| Will Assessor | (815) 740-4648 |
| 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 Will County
Residential Property Taxes by Cities in Will County
Will County has an average property tax rate of 2.68%, which is slightly higher than the national average of 2.31%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. Property taxes in Will County are used to fund local services such as schools, police, fire, and other public services.
Property tax rates in Will County vary across cities, with Park Forest having the highest effective property tax rate at 5.46%, and Peotone having the lowest effective property tax rate at 2.12%. This means that homeowners in Park Forest will pay more in property taxes than homeowners in Peotone. Property taxes are an important source of revenue for local governments, and understanding the differences in rates across cities can help homeowners make informed decisions when buying a home.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Will 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 |
|---|---|---|---|---|---|
| Aurora | $156,360 | $172,329 | $241,563 | $296,178 | $339,297 |
| Beecher | $117,638 | $157,244 | $189,822 | $232,940 | $265,647 |
| Bolingbrook | $147,303 | $181,959 | $225,780 | $300,912 | $370,216 |
| Braidwood | $100,651 | $135,526 | $163,362 | $193,126 | $232,666 |
| Channahon | $162,310 | $194,049 | $236,552 | $282,629 | $341,121 |
| Crest Hill | $108,576 | $133,485 | $174,402 | $218,161 | $276,238 |
| Crete | $93,588 | $131,214 | $175,968 | $220,520 | $274,421 |
| Elwood | $144,468 | $168,216 | $197,982 | $249,964 | $308,286 |
| Frankfort | $195,837 | $228,468 | $316,125 | $420,568 | $520,977 |
| Homer Glen | $238,659 | $280,179 | $342,192 | $416,313 | $521,289 |
| Joliet | $85,758 | $112,137 | $152,894 | $199,398 | $241,477 |
| Lockport | $130,485 | $169,698 | $217,764 | $294,922 | $367,290 |
| Manhattan | $154,800 | $191,100 | $258,750 | $305,100 | $386,115 |
| Minooka | $161,161 | $216,242 | $283,296 | $328,588 | $392,750 |
| Mokena | $171,976 | $217,518 | $297,783 | $388,046 | $499,720 |
| Monee | $140,457 | $163,854 | $201,054 | $315,762 | $407,654 |
| Naperville | $260,052 | $351,576 | $472,725 | $559,243 | $658,413 |
| New Lenox | $180,408 | $228,891 | $285,861 | $348,921 | $397,278 |
| Orland Park | $252,266 | $261,843 | $283,959 | $303,317 | $375,335 |
| Park Forest | $28,629 | $79,581 | $82,494 | $99,153 | $167,091 |
| Peotone | $125,552 | $148,544 | $181,068 | $222,086 | $271,251 |
| Plainfield | $175,848 | $212,390 | $252,876 | $318,497 | $391,136 |
| Rockdale | $96,566 | $111,981 | $129,984 | $152,853 | $174,184 |
| Romeoville | $149,193 | $163,891 | $194,294 | $238,819 | $270,237 |
| Shorewood | $175,359 | $212,514 | $268,965 | $322,290 | $377,804 |
| Steger | $78,815 | $89,448 | $104,364 | $127,725 | $155,582 |
| Tinley Park | $197,878 | $230,814 | $354,650 | $383,102 | $412,406 |
| University Park | $45,453 | $67,449 | $115,008 | $137,973 | $164,432 |
| Wilmington | $51,070 | $105,334 | $149,700 | $207,615 | $261,594 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Will County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aurora | $4,870 | $5,456 | $7,842 | $9,818 | $11,284 |
| Beecher | $3,302 | $4,362 | $5,737 | $7,184 | $8,383 |
| Bolingbrook | $4,085 | $5,455 | $7,013 | $9,129 | $11,165 |
| Braidwood | $1,771 | $2,671 | $3,492 | $4,288 | $5,294 |
| Channahon | $3,697 | $5,060 | $6,271 | $7,684 | $9,302 |
| Crest Hill | $2,470 | $3,224 | $4,360 | $5,753 | $7,355 |
| Crete | $2,561 | $4,169 | $6,114 | $8,038 | $10,206 |
| Elwood | $2,645 | $3,739 | $4,683 | $5,960 | $7,612 |
| Frankfort | $4,851 | $6,208 | $8,587 | $11,707 | $14,762 |
| Homer Glen | $5,413 | $6,873 | $8,571 | $10,729 | $13,686 |
| Joliet | $1,987 | $2,973 | $4,206 | $5,553 | $6,781 |
| Lockport | $2,834 | $4,390 | $6,087 | $8,554 | $10,853 |
| Manhattan | $4,455 | $6,161 | $8,332 | $10,160 | $12,294 |
| Minooka | $3,714 | $4,952 | $7,445 | $8,810 | $10,500 |
| Mokena | $4,011 | $5,457 | $7,788 | $10,477 | $14,052 |
| Monee | $4,457 | $5,724 | $7,031 | $8,378 | $10,478 |
| Naperville | $5,569 | $7,881 | $10,935 | $13,145 | $15,649 |
| New Lenox | $4,480 | $5,985 | $7,948 | $9,887 | $11,365 |
| Orland Park | $5,654 | $6,415 | $7,029 | $7,640 | $9,006 |
| Park Forest | $2,853 | $3,781 | $4,499 | $5,667 | $8,725 |
| Peotone | $2,451 | $3,059 | $3,907 | $4,856 | $6,060 |
| Plainfield | $4,096 | $5,261 | $6,589 | $8,393 | $10,296 |
| Rockdale | $1,590 | $2,452 | $2,988 | $3,629 | $4,189 |
| Romeoville | $4,080 | $4,718 | $5,714 | $7,101 | $8,306 |
| Shorewood | $4,066 | $5,251 | $6,862 | $8,376 | $9,772 |
| Steger | $2,120 | $2,864 | $3,603 | $4,559 | $5,613 |
| Tinley Park | $5,435 | $7,220 | $11,156 | $12,167 | $13,136 |
| University Park | $1,530 | $2,645 | $4,601 | $6,172 | $7,630 |
| Wilmington | $1,052 | $2,087 | $3,243 | $4,691 | $6,137 |
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 |
|---|---|---|---|---|---|
| Aurora | 3.11% | 3.17% | 3.25% | 3.31% | 3.33% |
| Beecher | 2.81% | 2.77% | 3.02% | 3.08% | 3.16% |
| Bolingbrook | 2.77% | 3.00% | 3.11% | 3.03% | 3.02% |
| Braidwood | 1.76% | 1.97% | 2.14% | 2.22% | 2.28% |
| Channahon | 2.28% | 2.61% | 2.65% | 2.72% | 2.73% |
| Crest Hill | 2.27% | 2.42% | 2.50% | 2.64% | 2.66% |
| Crete | 2.74% | 3.18% | 3.47% | 3.65% | 3.72% |
| Elwood | 1.83% | 2.22% | 2.37% | 2.38% | 2.47% |
| Frankfort | 2.48% | 2.72% | 2.72% | 2.78% | 2.83% |
| Homer Glen | 2.27% | 2.45% | 2.50% | 2.58% | 2.63% |
| Joliet | 2.32% | 2.65% | 2.75% | 2.78% | 2.81% |
| Lockport | 2.17% | 2.59% | 2.80% | 2.90% | 2.95% |
| Manhattan | 2.88% | 3.22% | 3.22% | 3.33% | 3.18% |
| Minooka | 2.30% | 2.29% | 2.63% | 2.68% | 2.67% |
| Mokena | 2.33% | 2.51% | 2.62% | 2.70% | 2.81% |
| Monee | 3.17% | 3.49% | 3.50% | 2.65% | 2.57% |
| Naperville | 2.14% | 2.24% | 2.31% | 2.35% | 2.38% |
| New Lenox | 2.48% | 2.61% | 2.78% | 2.83% | 2.86% |
| Orland Park | 2.24% | 2.45% | 2.48% | 2.52% | 2.40% |
| Park Forest | 9.97% | 4.75% | 5.45% | 5.72% | 5.22% |
| Peotone | 1.95% | 2.06% | 2.16% | 2.19% | 2.23% |
| Plainfield | 2.33% | 2.48% | 2.61% | 2.64% | 2.63% |
| Rockdale | 1.65% | 2.19% | 2.30% | 2.37% | 2.40% |
| Romeoville | 2.73% | 2.88% | 2.94% | 2.97% | 3.07% |
| Shorewood | 2.32% | 2.47% | 2.55% | 2.60% | 2.59% |
| Steger | 2.69% | 3.20% | 3.45% | 3.57% | 3.61% |
| Tinley Park | 2.75% | 3.13% | 3.15% | 3.18% | 3.19% |
| University Park | 3.37% | 3.92% | 4.00% | 4.47% | 4.64% |
| Wilmington | 2.06% | 1.98% | 2.17% | 2.26% | 2.35% |
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Real Estate Values in Will County
The median home price in Will County, Illinois has increased by 5.18% from October 2022 to October 2023, from $290.0K to $305.5K. This indicates a positive trend in the housing market in Will County. However, the home inventory has decreased from 2.2K in October 2022 to 1.8K in October 2023, indicating a decrease in the availability of homes for sale in the area.
Average Home Value in Will County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Will County
Last updated: November 2023
Percent Change in New Home Listings in Will County
Last updated: November 2023
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Mortgage Rates in Will County
Will County, Illinois, has an outstanding loan amount of $59.9 billion across its home mortgages. This represents a total of 146,300 outstanding loans in the county. The median mortgage rate in Will County varies across cities, with Rockdale having the highest rate at 5.65%, and Manhattan having the lowest rate at 4.49%. This difference in rates can have a significant impact on the total cost of a loan.
The total outstanding loan amount in Will County is equivalent to approximately 75% of the total home value in the county. This indicates that mortgages are a popular option for homeowners in Will County, and that the variation in rates across cities can have a significant effect on the total cost of a loan. It is important for potential homeowners to research the different rates available in their area in order to find the best deal for their needs.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Will County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aurora | $78,961 | $103,022 | $140,330 | $198,990 | $256,407 |
| Beecher | $54,065 | $88,273 | $127,696 | $175,296 | $225,537 |
| Bolingbrook | $44,943 | $85,547 | $140,253 | $205,129 | $273,965 |
| Braidwood | $34,618 | $66,724 | $111,743 | $156,260 | $201,674 |
| Channahon | $48,692 | $87,373 | $139,484 | $201,574 | $262,193 |
| Crest Hill | $40,090 | $73,099 | $110,505 | $151,301 | $196,462 |
| Crete | $45,954 | $81,505 | $125,986 | $178,230 | $246,165 |
| Elwood | $38,401 | $76,926 | $127,989 | $175,711 | $242,221 |
| Frankfort | $60,172 | $115,456 | $192,595 | $288,041 | $375,892 |
| Homer Glen | $46,822 | $106,829 | $188,564 | $272,076 | $352,054 |
| Joliet | $31,824 | $62,102 | $105,070 | $153,524 | $204,182 |
| Lockport | $48,084 | $90,397 | $141,150 | $201,275 | $269,391 |
| Manhattan | $70,669 | $115,549 | $168,528 | $235,877 | $298,816 |
| Minooka | $59,084 | $100,318 | $152,040 | $209,067 | $269,653 |
| Mokena | $50,026 | $95,084 | $165,032 | $251,651 | $339,492 |
| Monee | $61,193 | $95,213 | $141,378 | $214,455 | $300,856 |
| Naperville | $68,425 | $135,544 | $249,151 | $346,350 | $453,868 |
| New Lenox | $50,204 | $96,167 | $171,095 | $243,935 | $306,576 |
| Orland Park | $46,476 | $104,481 | $167,592 | $237,308 | $308,137 |
| Park Forest | $27,597 | $47,835 | $75,601 | $112,157 | $152,095 |
| Peotone | $43,225 | $83,773 | $129,070 | $183,359 | $233,968 |
| Plainfield | $57,459 | $97,975 | $152,072 | $220,142 | $293,894 |
| Rockdale | $24,648 | $46,994 | $84,424 | $121,419 | $148,712 |
| Romeoville | $52,422 | $81,645 | $119,255 | $169,713 | $220,918 |
| Shorewood | $64,145 | $105,232 | $161,351 | $221,781 | $287,051 |
| Steger | $26,536 | $50,757 | $80,067 | $115,484 | $152,531 |
| Tinley Park | $65,742 | $103,464 | $165,255 | $240,732 | $301,503 |
| University Park | $26,189 | $51,001 | $88,325 | $130,607 | $174,253 |
| Wilmington | $30,393 | $63,533 | $110,104 | $157,793 | $212,732 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Will County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aurora | 3.12% | 3.83% | 4.75% | 6.25% | 7.03% |
| Beecher | 3.25% | 3.87% | 4.85% | 6.20% | 6.99% |
| Bolingbrook | 3.25% | 3.92% | 5.12% | 6.62% | 7.74% |
| Braidwood | 3.09% | 3.87% | 4.99% | 6.41% | 7.53% |
| Channahon | 3.20% | 3.87% | 4.87% | 6.52% | 7.58% |
| Crest Hill | 3.20% | 3.87% | 4.87% | 6.33% | 7.25% |
| Crete | 3.12% | 3.82% | 4.75% | 6.43% | 7.75% |
| Elwood | 3.12% | 3.84% | 4.65% | 6.43% | 7.66% |
| Frankfort | 3.12% | 3.75% | 4.75% | 6.38% | 7.43% |
| Homer Glen | 3.13% | 3.87% | 4.87% | 6.70% | 7.75% |
| Joliet | 3.25% | 3.96% | 5.12% | 6.60% | 7.75% |
| Lockport | 3.12% | 3.87% | 4.75% | 6.37% | 7.50% |
| Manhattan | 3.10% | 3.67% | 4.49% | 5.98% | 6.93% |
| Minooka | 3.25% | 3.87% | 4.75% | 6.33% | 7.28% |
| Mokena | 3.12% | 3.84% | 4.75% | 6.50% | 7.67% |
| Monee | 3.00% | 3.75% | 4.75% | 6.37% | 7.42% |
| Naperville | 3.00% | 3.66% | 4.50% | 6.39% | 7.36% |
| New Lenox | 3.14% | 3.87% | 4.75% | 6.54% | 7.62% |
| Orland Park | 3.25% | 3.86% | 4.81% | 6.75% | 7.66% |
| Park Forest | 3.20% | 3.86% | 5.12% | 6.90% | 7.94% |
| Peotone | 3.12% | 3.87% | 4.87% | 6.42% | 7.63% |
| Plainfield | 3.13% | 3.87% | 4.87% | 6.43% | 7.50% |
| Rockdale | 3.25% | 4.25% | 5.65% | 7.03% | 7.87% |
| Romeoville | 3.25% | 3.99% | 5.10% | 6.53% | 7.60% |
| Shorewood | 3.12% | 3.77% | 4.56% | 6.13% | 6.98% |
| Steger | 3.23% | 3.90% | 5.25% | 6.71% | 7.86% |
| Tinley Park | 3.28% | 4.00% | 5.51% | 6.72% | 7.54% |
| University Park | 3.37% | 4.25% | 5.50% | 7.06% | 8.14% |
| Wilmington | 3.10% | 3.75% | 4.69% | 6.37% | 7.62% |
Housing Expenses in Will County, Illinois
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