60936 Property Tax Rate

Property owners in ZIP code 60936 (Gibson City, Illinois) pay a median of $2,625/year in property taxes on homes valued at $151,000. This translates to an effective tax rate of 1.74%, which is 7% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 60936 is approximately $219, which factors into escrow payments on mortgages. This ZIP code is located within Ford County. This is $876 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 60936 has higher property taxes. ZIP codes with similar effective rates include 60613 (1.74%) and 62862 (1.74%).

In Gibson City, property taxes represent approximately 5.1% of the median household income of $51,952, providing context for the relative tax burden on homeowners in this area.

Illinois limits assessed value growth to 7% per year, but Ford County reassesses to market value upon sale. File for Ford County's General Homestead Exemption ($10,000 reduction in assessed value) with the Ford County Assessor by the filing deadline on your assessment notice. Submit your exemption application to the Ford County Assessor within 30 days of closing to lock in the tax reduction.