Dekalb, Illinois Property Taxes
The median property tax rate in DeKalb, IL is 2.99%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in DeKalb at $161,013, the typical annual property tax bill reaches $4,798, exceeding the national median of $2,690. Property taxes in DeKalb are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding DeKalb's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of DeKalb or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dekalb, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s DeKalb Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DeKalb with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DeKalb to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Dekalb, Illinois
Property taxes in DeKalb, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in DeKalb stands at 2.99%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within DeKalb set these rates annually, and they can vary significantly across different neighborhoods. Each year, DeKalb estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares DeKalb's effective property tax rate to other counties in Illinois and the national median. For comparison, the 60115 zip code has the highest median property tax rate of 2.99%, while the 60115 zip code also has the lowest median tax rate of 2.99%. Understanding how these cities compare with DeKalb provides valuable insights into the varying tax landscape across DeKalb County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dekalb Tax Rate
2.99%
Average Dekalb County Tax Rate
2.86%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dekalb, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60115 | 2.54% | 2.81% | 2.99% | 3.33% | 3.37% |
Source: Ownwell
Property Tax Assessment Values Across Dekalb, Illinois
In DeKalb, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the DeKalb County Assessment Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In DeKalb, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For example, the highest and lowest median tax bills in DeKalb are both $4798, found in zip code 60115. Being aware of these valuation processes in DeKalb helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dekalb Assessed Value
$161,013
Average Dekalb County Assessed Value
$185,016
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dekalb, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60115 | $105,911 | $129,102 | $161,013 | $205,149 | $251,894 |
Source: Ownwell
Property Tax Bills Across Dekalb, Illinois
In DeKalb, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate, determined by various taxing authorities such as school districts and municipalities, is then applied to this assessed value. For homeowners in DeKalb, the median home price stands at $161,013. Property tax bills can vary significantly, with the 25th percentile tax bill at $3,734 and the 75th percentile reaching $6,160. The highest median tax bill recorded in the area is $4,798 in the 60115 zip code, which also represents the lowest median tax bill, indicating a consistent tax rate across the city. These tax bills directly impact homeowners by influencing their annual housing costs. Compared to the national median property tax rate of 0.99%, DeKalb's tax rates can be seen as relatively high, which could affect decisions on homeownership and property investments in the area.
Average Dekalb Tax Bill
$4,798
Average Dekalb County Tax Bill
$5,206
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Dekalb, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60115 | $2,968 | $3,734 | $4,798 | $6,160 | $7,683 |
Source: Ownwell