Grant Park, Kankakee County, Illinois Property Taxes

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Property Taxes in Grant Park, Illinois

Median Grant Park, Illinois effective property tax rate: 3.16%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.
Median Grant Park, Illinois home value: $198,540
Median annual Grant Park, Illinois tax bill: $6,381, $3,981 higher than the national median property tax bill of $2,400.

How are property taxes in Kankakee calculated?

Property taxes in Grant Park, 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 Grant Park's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Grant Park, knowing local tax details benefits homeowners and investors.

Last Updated April 13, 2026

Grant Park, Kankakee County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.16%

Estimate Property Tax Bill

$6,274

$5,822

How Does the Grant Park Property Tax Calculator Work?

Use this Grant Park property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Grant Park's median effective tax rate of 3.16% — based on actual property records in Kankakee County — to generate your estimate.

Enter your property's estimated assessed value — the figure the local assessment system uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Grant Park's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.

Your bill may vary by ZIP code within Grant Park: rates range from 3.16% in 60940 to 3.16% in 60940, primarily due to differences in school district levies and local assessment districts.

For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Grant Park.

About Grant Park Property Taxes

About Property Taxes in Grant Park, Kankakee, Illinois

Grant Park’s median effective property tax rate of 3.16% is higher than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Kankakee County base levy combined with local school district levies and special service areas that vary by subdivision throughout the city.

Property tax rates are not uniform across Grant Park. Homeowners in ZIP code 60940 carry a median effective rate of 3.16%, and the same ZIP also has the lowest median rate in the city. This narrow spread reflects how school district boundaries and local assessment districts are drawn across Kankakee County. Understanding where you live in Grant Park can make a meaningful difference to your annual tax bill.

Grant Park homeowners who believe their assessed value is too high can file a formal appeal with the 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 Grant Park, Kankakee 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 Grant Park's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Property Tax Rates Across Grant Park, Kankakee County, Illinois

Source: Ownwell

2.59%

3.26%

3.94%

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 Grant Park Tax Rate

3.16%

Median Effective Kankakee County Tax Rate

3.15%

Median Effective Illinois Tax Rate

2.33%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Grant Park, Kankakee County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60940	2.65%	2.93%	3.16%	3.40%	3.78%

Source: Ownwell

Property Tax Assessment Values Across Grant Park, Kankakee County, Illinois

When examining property taxes in Grant Park, 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. Kankakee County 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 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 Kankakee County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the season.

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 Grant Park.

For example, the median home price in Grant Park is $198,540, with tax bills ranging significantly across the county. ZIP code 60940 has the highest median home price at $198,540.

Property Tax Assessment Values Across Grant Park, Kankakee County, Illinois

Source: Ownwell

$35,619

$121,247

$206,874

Median Grant Park Market Value

$198,540

Median Kankakee County Market Value

$151,347

Median Illinois Market Value

$227,888

Median United States Market Value

$235,294

Property Tax Assessment Values Across Grant Park, Kankakee County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60940	$36,679	$126,783	$198,540	$263,178	$325,675

Source: Ownwell

Property Tax Bills Across Grant Park, Kankakee County, Illinois

Property tax bills in Grant Park are based on the assessed value of a home and the local tax rate set by taxing authorities in Kankakee County. When a home’s market value changes, the assessed value can change too, which can raise or lower the tax bill. Local budgets for schools, roads, public safety, and other services also affect what homeowners owe.

For Grant Park homeowners, the median home price is $198,540, and the median tax bill is $6,381 in ZIP code 60940. That is well above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%. Tax bills can vary widely, with the 25th percentile at $4,377 and the 75th percentile at $8,140, while the 90th percentile reaches $10,319. This means homeowners in Grant Park may face a significant annual cost, especially if their assessed value is high or local tax rates increase.

Property Tax Bills Across Grant Park, Kankakee County, Illinois

Source: Ownwell

$1,026

$3,988

$6,949

Median Grant Park Tax Bill

$6,381

Median Kankakee County Tax Bill

$4,678

Median Illinois Tax Bill

$5,277

Median United States Tax Bill

$2,400

Property Tax Bills Across Grant Park, Kankakee County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60940	$2,023	$4,377	$6,381	$8,140	$10,319

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	June 1

Links
Kankakee Tax Assessor
Website	kankakeeil.devnetwedge.com

Frequently Asked Property Tax Questions in Grant Park, Illinois

How are property taxes calculated in Grant Park, Illinois?

Property taxes in Grant Park, Illinois are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.

How do I appeal my property taxes in Grant Park, Illinois?

To appeal your property taxes in Grant Park, Illinois, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.

What property tax exemptions are available in Grant Park, Illinois?

Common property tax exemptions in Grant Park, Illinois include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.

When are property taxes due in Grant Park, Illinois?

Property tax deadlines in Grant Park, Illinois vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.

How can Ownwell help reduce my property taxes in Grant Park, Illinois?

Ownwell provides professional property tax appeal services in Grant Park, Illinois. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.