Braidwood, Grundy County, Illinois Property Taxes

Name: Property Tax Bills Across Braidwood, Grundy County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Braidwood, IL effective property tax rate: 2.58%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Braidwood, IL home value: $92,756
Median annual Braidwood, IL tax bill: $2,430, $30 higher than the national median property tax bill of $2,400.

How are property taxes in Grundy calculated?

Property taxes in Braidwood, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Braidwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Braidwood, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Braidwood, Grundy County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.58%

Estimate Property Tax Bill

$2,393

$2,221

Ownwell’s Braidwood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Braidwood with just two data points. By entering your property's estimated assessed value, our calculator applies Braidwood’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Grundy County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Braidwood, Grundy County, Illinois

Local government entities determine property tax rates, which can greatly differ within a state. This is because each year, counties estimate their necessary budget to fund essential services and then divide this amount by the total value of all taxable property within their borders. This calculation establishes the property tax rate. Although votes and laws play roles in determining tax rates and budgets, this is the core annual process.

In Braidwood, located in Grundy County, the effective property tax rate is notably higher than the national median of 1.02%. This is a common trend in Illinois, where property taxes often exceed national averages. Comparing Braidwood’s tax rate to other cities within Illinois and the broader U.S. reveals significant differences. With Illinois having a median property tax rate of 2.58%, it becomes evident that property taxes here are substantially above the national median.

Understanding these rates is crucial for property owners who wish to manage their tax liabilities effectively. With Ownwell's property tax appeal and exemption services, homeowners can potentially reduce their tax burdens, making homeownership more affordable in high-tax areas like Braidwood.

Property Tax Rates Across Braidwood, Grundy County, Illinois

Source: Ownwell

1.70%

2.45%

3.20%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Braidwood Tax Rate

2.58%

Median Effective Grundy County Tax Rate

2.61%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Braidwood, Grundy County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60408	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Braidwood, Grundy County, Illinois

When examining property taxes in Braidwood, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Grundy County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: Grundy County sends assessment notices in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Braidwood. For example, the median home price in Braidwood is $92,756, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Braidwood, Grundy County, Illinois

Source: Ownwell

$52,952

$138,277

$223,602

Median Braidwood Market Value

$92,756

Median Grundy County Market Value

$145,632

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Braidwood, Grundy County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60408	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Braidwood, Grundy County, Illinois

In Braidwood, located in Grundy County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. Homeowners in this region face a median property tax bill far exceeding the national median of $2,400, with bills ranging from $1,194 at the 25th percentile to $4,009 at the 90th percentile. The tax rate in this area contributes to the higher property tax burden compared to the national median rate of 1.02%. Various factors, such as local government budgets and school district funding requirements, influence the property tax rates, directly impacting homeowners' financial obligations. High property taxes can strain homeowners, making it essential to explore ways to reduce this burden. Ownwell offers a solution by providing expert property tax appeal and exemption services. By leveraging local expertise and understanding of property tax regulations, Ownwell can help homeowners in Braidwood potentially lower their property tax bills, ensuring they pay only what is fair and accurate.

Property Tax Bills Across Braidwood, Grundy County, Illinois

Source: Ownwell

$1,077

$3,591

$6,104

Median Braidwood Tax Bill

$2,430

Median Grundy County Tax Bill

$3,869

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Braidwood, Grundy County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60408	N/A	N/A	N/A	N/A	N/A

Source: Ownwell