Cortland, Dekalb County, Illinois Property Taxes
Median Cortland, IL effective property tax rate: 3.03%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Cortland, IL home value: $190,152
Median annual Cortland, IL tax bill: $5,901, $3,501 higher than the national median property tax bill of $2,400.
How are property taxes in DeKalb calculated?
Property taxes in Cortland, 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 Cortland’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cortland, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cortland, Dekalb County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.03%
Estimate Property Tax Bill
$5,762
$5,347
Property Tax Rates Across Cortland, Dekalb County, Illinois
Local government entities are responsible for setting property tax rates, which can vary significantly even within a single state. Each year, counties estimate the budget needed to provide essential services and divide it by the total value of all taxable properties within their jurisdiction. This calculation determines the property tax rate. Although votes and legislation play a role in setting these rates and budgets, this is the fundamental process.
In Cortland, located in DeKalb County, Illinois, the effective property tax rate stands out when compared to other cities in the state. Illinois has a median property tax rate higher than the national median of 1.02%. This means property owners in Cortland may experience a higher tax burden compared to the national average. However, within Illinois, Cortland's rate is consistent, as it shares the same rate with other areas in the state. For property owners, understanding these nuances is crucial for financial planning and making informed decisions about property investments. Comparing Cortland’s property tax rate to both state and national medians can provide valuable insights for residents and potential buyers.
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 Cortland Taxx Rate
3.03%
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 Dekalb County Taxx Rate
2.86%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
0.99%
Property Tax Rates Across Cortland, Dekalb County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60112 | 2.70% | 2.92% | 3.03% | 3.32% | 4.01% |
Source: Ownwell
Property Tax Assessment Values Across Cortland, Dekalb County, Illinois
When examining property taxes in Cortland, 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 DeKalb County assessment 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.
In DeKalb County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Cortland. For example, the median home price in Cortland is $190,152, with tax bills ranging significantly across the county. 60112 has the highest median home price at $190,152.
Property Tax Assessment Values Across Cortland, Dekalb County, Illinois
Source: Ownwell
$145,544
$224,239
$302,934
Median Cortland Market Value
$190,152
Median Dekalb County Market Value
$185,016
Median Illinois Market Value
$194,700
Median United States Market Value
$244,900
Property Tax Assessment Values Across Cortland, Dekalb County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60112 | $134,004 | $162,599 | $190,152 | $214,956 | $234,492 |
Source: Ownwell
Property Tax Bills Across Cortland, Dekalb County, Illinois
Median Cortland Tax Bill
$5,901
Median Dekalb County Tax Bill
$5,206
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Cortland, Dekalb County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60112 | $3,853 | $4,672 | $5,901 | $7,255 | $8,494 |
Source: Ownwell