60931 Property Tax Rate

Property owners in ZIP code 60931 (Donovan, Illinois) pay a median of $2,558/year in property taxes on homes valued at $112,000. This translates to an effective tax rate of 2.28%, which is 22% above the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 60931 is approximately $213, which factors into escrow payments on mortgages. This ZIP code is located within Iroquois County. This is $943 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 60931 has higher property taxes. ZIP codes with similar effective rates include 60152 (2.28%) and 62201 (2.29%).

In Donovan, property taxes represent approximately 4.8% of the median household income of $53,500, providing context for the relative tax burden on homeowners in this area.

Illinois caps assessed value increases at 7% annually, though Iroquois County reassesses properties to market value at sale. Iroquois County's General Homestead Exemption provides $10,000 off assessed value — submit your application to the Iroquois County Assessor by the deadline on your Supervisor's Notice. Contact the Iroquois County Assessor immediately after purchase to file your exemption and confirm your base year assessment.