Milford, Iroquois County, Illinois Property Taxes
Property Taxes in Milford, Illinois
Median Milford, Illinois effective property tax rate: 3.00%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.
Median Milford, Illinois home value: $115,716
Median annual Milford, Illinois tax bill: $3,820, $1,420 higher than the national median property tax bill of $2,400.
How are property taxes in Iroquois calculated?
Property taxes in Milford, Illinois 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 Milford's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Milford, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Milford, Iroquois County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3%
Estimate Property Tax Bill
$3,471
$3,221
How Does the Milford Property Tax Calculator Work?
Use this Milford property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Milford's median effective tax rate of 3.00% — based on actual property records in Iroquois County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Milford's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Milford's bill may vary by ZIP code, but the available rate data is concentrated in 60953, where the median property tax bill is $3,820. That is higher than the Illinois median tax bill by $1,420 and also above the national median property tax bill of $2,400.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Milford.
About Milford Property Taxes
About Property Taxes in Milford, Iroquois, Illinois
Milford’s median effective property tax rate of 3.00% is higher than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Iroquois County base levy combined with local school district levies and Special service areas (SSAs) that vary by subdivision throughout the city.
Property tax rates are not uniform across Milford. Homeowners in the 60953 ZIP code carry a median effective rate of 3.00%, while those in the same ZIP also pay 3.00%. This reflects how school district boundaries and local assessment districts are drawn across Iroquois County. Understanding which part of Milford you live in can make a meaningful difference to your annual tax bill.
Milford homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Milford, Iroquois County, Illinois
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Milford's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
Our median effective property tax rate (tax bill Ă· 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 Milford Tax Rate
3.00%
Our median effective property tax rate (tax bill Ă· 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 Iroquois County Tax Rate
2.86%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Milford, Iroquois County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60953 | 2.18% | 2.63% | 3.00% | 3.54% | 4.01% |
Source: Ownwell
Property Tax Assessment Values Across Milford, Iroquois County, Illinois
When examining property taxes in Milford, Illinois, 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 Iroquois County appraisal district 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:
In Iroquois County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month.
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 Milford.
For example, the median home price in Milford is $115,716, with tax bills ranging significantly across the county. 60953 has the highest median home price at $115,716.
Property Tax Assessment Values Across Milford, Iroquois County, Illinois
Source: Ownwell
$83,658
$117,924
$152,190
Median Milford Market Value
$115,716
Median Iroquois County Market Value
$113,187
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Milford, Iroquois County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60953 | $26,332 | $58,862 | $115,716 | $190,852 | $275,834 |
Source: Ownwell
Property Tax Bills Across Milford, Iroquois County, Illinois
Property tax bills in Milford are based on the assessed value of a home and the local tax rate set by taxing authorities in Iroquois County. When a home’s market value changes, the assessed value can change as well, which can raise or lower the bill. Local budgets for schools, roads, public safety, and other services also influence how much homeowners owe.
With a median home price of $115,716, property taxes can represent a meaningful part of housing costs. The median tax bill is $3,820, which is above the national median property tax bill of $2,400 and reflects a higher-than-average burden for many homeowners. Bills vary widely, with the 25th percentile at $2,171 and the 75th percentile at $6,330, showing that similar homes can face very different tax obligations.
For homeowners, this means property taxes are not fixed. They depend on how the home is valued and how local rates are applied, so changes in either can affect annual costs.
Median Milford Tax Bill
$3,820
Median Iroquois County Tax Bill
$3,480
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Milford, Iroquois County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60953 | $1,067 | $2,171 | $3,820 | $6,330 | $10,163 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Iroquois Tax Assessor | |
| Website | iroquoisil.devnetwedge.com |