61038 Property Tax Rate

Property owners in ZIP code 61038 (Garden Prairie, Illinois) pay a median of $5,183/year in property taxes on homes valued at $274,200. This translates to an effective tax rate of 1.89%, which is near the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 61038 is approximately $432, which factors into escrow payments on mortgages. This ZIP code is located within Boone County. This is $1,682 more than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 61038 has lower property taxes. ZIP codes with similar effective rates include 61041 (1.89%) and 60924 (1.89%).

In Garden Prairie, property taxes represent approximately 7.4% of the median household income of $69,808, providing context for the relative tax burden on homeowners in this area.

Illinois limits annual assessed value increases to 7%, but Boone County reassesses properties to market value at sale. File for Boone County's General Homestead Exemption ($10,000 reduction in assessed value) with the Boone County Assessor by the deadline on your assessment notice. Submit your exemption application to the Boone County Assessor within 30 days of closing to secure the tax savings.