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Will County Gazette

Thursday, May 9, 2024

Analysis: Will County effective property tax rate outpaced the national average in Q1

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Property owners in Will County paid 2.2% the value of their homes in property taxes in the first quarter of 2023 which is more than 2 times the national average, according to the real estate analysis posted by the Will County Gazette.

The median sales price of a Will County home in the first quarter of 2023 was $265,000, based on data from the 1,765 properties sold during that time. In 2020 the median tax bill for the county was $5,860, which is 2.2% of the median value of the homes that were taxed.

This is 2 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Will County real estate data showed homeowners in Gilletts, Boula, and Minooka paid the highest rates.

The following table compares Gilletts with some other cities belonging to Will County by their median effective property tax rate, calculated using sales and property tax data from the first quarter of 2023.

CityQ1 2023 SalesQ1 2023 Median PriceMedian tax 2023Effective tax rate
Gilletts1$99,000$5,8555.9%
Boula1$75,000$3,8825.2%
Minooka3$209,000$8,5234.1%
Ridgewood4$49,500$1,9163.9%
Tinley Park19$337,000$12,7273.8%
Park Forest13$155,000$5,2973.4%
Willowbrook5$283,000$9,3573.3%
Monee23$238,000$7,6223.2%
University Park17$162,000$5,1673.2%
Cherry Hill1$217,500$6,5423%
Crete43$189,900$5,7353%
Frankfort Square30$244,500$7,0842.9%
Lakewood Falls2$210,250$5,9332.8%
Mokena46$339,000$9,1882.7%
New Lenox79$320,000$8,5632.7%
Steger20$125,155$3,3602.7%
Bolingbrook136$297,500$7,7982.6%
Braidwood27$120,300$3,1692.6%
Homer Glen49$357,000$9,4212.6%
Lockport97$275,000$7,1082.6%
Arbury Hills2$236,750$6,0952.6%
Carillon10$215,500$5,4002.5%
Aurora18$364,950$8,6632.4%
Joliet412$215,000$5,0602.4%
Romeoville109$265,000$6,4532.4%
Manhattan27$373,197$8,8232.4%
Channahon16$294,950$6,8312.3%
Frankfort65$462,000$10,7442.3%
Naperville92$584,314$12,6202.2%
Plainfield110$387,500$8,4872.2%
Crest Hill54$213,750$4,7712.2%
Crystal Lawns8$220,000$4,8222.2%
Wilton6$237,239$5,2472.2%
Lincoln Estates2$345,000$7,4642.2%
Shorewood54$362,450$7,5612.1%
Ingalls Park12$140,000$2,9752.1%
Lily Cache2$212,500$4,2812%
River Edge Estates3$555,000$11,3412%
Spencer1$425,000$8,4492%
Beecher11$277,000$5,6072%
Wilmington20$209,250$3,8831.9%
Elwood9$235,000$4,3831.9%
Forest Manor2$225,500$4,2411.9%
Rockdale5$180,000$3,0441.7%
Wheatland View1$465,000$7,4601.6%
Godley3$110,000$1,7241.6%
Peotone15$260,000$4,2441.6%
Wolf Creek Island1$280,000$4,1781.5%
Preston Heights8$162,500$2,4251.5%
Coynes3$225,000$3,1461.4%
Lakewood Shores7$195,000$2,5721.3%
Custer Park1$350,000$4,0551.2%
Fairmont9$100,000$1,0501.1%

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