Galesburg, Knox County, Illinois Property Taxes
Property Taxes in Galesburg, Illinois
Median Galesburg, Illinois effective property tax rate: 3.09%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.
Median Galesburg, Illinois home value: $40,710
Median annual Galesburg, Illinois tax bill: $1,198, $1,202 lower than the national median property tax bill of $2,400.
How are property taxes in Knox calculated?
Property taxes in Galesburg, 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 Galesburg's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Galesburg, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Galesburg, Knox County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.09%
Estimate Property Tax Bill
$1,258
$1,167
How Does the Galesburg Property Tax Calculator Work?
Use this Galesburg property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Galesburg's median effective tax rate of 3.09% — based on actual property records in Knox 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 Galesburg'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 Galesburg: rates range from 1194.00 in 61401 to 1194.00 in 61401, 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 Galesburg.
About Galesburg Property Taxes
About Property Taxes in Galesburg, Knox, IL
Galesburg’s median effective property tax rate of 3.09% is higher than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Knox 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 Galesburg. Homeowners in ZIP code 61401 carry a median effective rate of 3.09%, while those in the same ZIP code also pay 3.09% at the median. This reflects how school district boundaries and local assessment districts are drawn across Knox County. Understanding where you live in Galesburg can make a meaningful difference to your annual tax bill.
Galesburg 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 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 Galesburg, Knox 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 Galesburg'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 Galesburg Tax Rate
3.09%
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 Knox County Tax Rate
2.82%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Galesburg, Knox County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61401 | 2.40% | 3.09% | 3.09% | 3.09% | 3.09% |
| 61402 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Galesburg, Knox County, Illinois
When examining property taxes in Galesburg, 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 Knox County assessor 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 are sent in the spring each year and 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.
For example, the median home price in Galesburg is $40,710, with tax bills ranging significantly across the county. 61401 has the highest median home price at $40,530.
Property Tax Assessment Values Across Galesburg, Knox County, Illinois
Source: Ownwell
$40,530
$174,788
$309,045
Median Galesburg Market Value
$40,710
Median Knox County Market Value
$93,540
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Galesburg, Knox County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61401 | $8,760 | $13,740 | $40,530 | $79,530 | $185,046 |
| 61402 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Galesburg, Knox County, Illinois
Property tax bills in Galesburg are based on the assessed value of a home, not its market price. Local taxing authorities apply tax rates to that assessed value to calculate the annual bill, and the amount can vary depending on exemptions and the specific taxing districts that serve the property. With a median home price of $40,710, even small changes in assessment can have a noticeable impact on what homeowners owe.
Galesburg homeowners typically see bills that reflect a wide range of outcomes. The 25th percentile tax bill is $399, while the 75th percentile is $2,299 and the 90th percentile reaches $4,662. The median tax bill in ZIP code 61401 is $1,194, which is below the national median property tax bill of $2,400 and below the national median property tax rate of 1.02%. For homeowners, this means property taxes can be a major part of housing costs, especially when assessments rise faster than expected.
Median Galesburg Tax Bill
$1,198
Median Knox County Tax Bill
$2,355
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Galesburg, Knox County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61401 | $271 | $398 | $1,194 | $2,295 | $4,628 |
| 61402 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Knox Tax Assessor | |
| Website | knoxil.devnetwedge.com |