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Will County, IL Property Tax Information

Gain insightful knowledge on property tax assessments, tax records, rates and exemptions

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Search Property Tax Records in Will County, IL

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Sample Property Tax Report for a Will County, IL property

Property tax in Illinois is imposed by local government taxing districts (e.g., school districts, municipalities, counties) and administered by local officials.

Market Value

Market value has been defined by The Supreme Court as the sale price of real estate as agreed upon between a willing buyer and willing seller, with neither being under duress to buy or sell.

Land value $1,206,465
Building value + $1,590,246
Market value = $2,796,711
Assessed Value

Assessment is the basis upon which taxing authorities tax a property. Real property in Will County is assessed at 33.33% of market value.

Land assessed value $402,115
Building assessed value + $530,029
Assessed value = $932,144
Equalized Assessed Value

In Illinois land which is used for open space purposes and has been so used for the 3 years immediately preceding the year in which the assessment is made, it is valued on the basis of its fair cash value, estimated at the price it would bring at a fair, voluntary sale for use by the buyer for open space purposes.

Open space value $11,500
Building assessed value + $530,029
Equalized assessed value = $541,529
Exemptions And Taxable Value

Exemptions are available in Will County, which may lower the property's tax bill. These are deducted from the property's assessed value to give the property's taxable value.

We have no information about whether any exemptions currently apply to this property. Therefore, the taxable value will be equal to the assessed value.

Property Tax

Property tax is calculated by multiplying the property's taxable value by the total tax rates applicable to it and is an estimate of what an owner not benefiting from any exemptions would pay.
Actual taxes might differ from the figures displayed here due to various abatement and financial assistance programs or to non ad-valorem taxes.

Tax description Assessed value Tax rate Tax amount
Will County $541,529 * 0.5994% = $3,245.92
Will County Bldg Comm $541,529 * 0.0222% = $120.22
Frkft Twp Town Funds $541,529 * 0.0960% = $519.87
Frkft Twp Road Funds $541,529 * 0.1195% = $647.13
Frankfort Fire Dist $541,529 * 0.7840% = $4,245.59
School District 157-C $541,529 * 3.9318% = $21,291.84
Comm College Dist 525 $541,529 * 0.2955% = $1,600.22
Village Of Frankfort $541,529 * 0.3390% = $1,835.78
Vil Frankfort Rd & Br $541,529 * 0.0999% = $540.99
Frankfort Park Dist $541,529 * 0.2215% = $1,199.49
Frankfort Pub Library $541,529 * 0.1988% = $1,076.56
Forest Preserve $541,529 * 0.1970% = $1,066.81
High School Dist 210 $541,529 * 2.0605% = $11,158.21
Property tax $541,529 * 8.9651% = $48,548.62

For more information please visit the web pages of Will County's Supervisor of Assessments and Treasurer or look up this property's current valuation and tax situation.

Tax per Square Foot

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Sorry, for this property we don't have any information about the tax paid per square foot.

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