62941 Property Tax Rate

Property owners in ZIP code 62941 (Grand Chain, Illinois) pay a median of $1,735/year in property taxes on homes valued at $114,500. This translates to an effective tax rate of 1.52%, which is 19% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62941 is approximately $145, which factors into escrow payments on mortgages. This ZIP code is located within Pulaski County. This is $1,766 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62941 has lower property taxes. ZIP codes with similar effective rates include 61924 (1.52%) and 62277 (1.52%).

In Grand Chain, property taxes represent approximately 3.5% of the median household income of $50,000, providing context for the relative tax burden on homeowners in this area.

Illinois law caps assessed value growth at 7% annually, but Pulaski County will reassess your property at market value upon purchase. The General Homestead Exemption reduces assessed value by $10,000 for primary residences — apply to the Pulaski County Assessor's office within the first tax year of ownership. File your exemption claim and request a copy of your Notice of Assessment to confirm the reassessment is accurate.