Hampshire, Dekalb County, Illinois Property Taxes
Median HAMPSHIRE, IL effective property tax rate: 2.78%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median HAMPSHIRE, IL home value: $188,061
Median annual HAMPSHIRE, IL tax bill: $5,188, $2,788 higher than the national median property tax bill of $2,400.
How are property taxes in DeKalb calculated?
Property taxes in HAMPSHIRE, 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 HAMPSHIRE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in HAMPSHIRE, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hampshire, Dekalb County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.78%
Estimate Property Tax Bill
$5,228
$4,852
Property Tax Rates Across Hampshire, Dekalb County, Illinois
Local government entities set tax rates, which can vary widely within a state. 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.
In Hampshire, located in DeKalb County, Illinois, the effective property tax rate is significantly higher than the national median property tax rate of 1.02%. This means that homeowners in Hampshire are paying a larger percentage of their property's assessed value in taxes compared to many other areas in the country. The median property tax rate in Illinois also surpasses the national average, indicating a broader trend within the state. This can have a substantial impact on homeowners' annual expenses and should be a key consideration for potential buyers or current residents looking to appeal their property taxes. By understanding these rates, property owners can make informed decisions and potentially seek exemptions or appeals to reduce their tax burden.
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 Hampshire Taxx Rate
2.78%
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 Hampshire, Dekalb County, Illinois
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
60140 | 2.22% | 2.47% | 2.78% | 3.20% | 3.53% |
Source: Ownwell
Property Tax Assessment Values Across Hampshire, Dekalb County, Illinois
When examining property taxes in Hampshire, 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 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.
In DeKalb County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Hampshire. For example, the median home price in Hampshire is $188,061, with tax bills ranging significantly across the county. Zip code 60140 has the highest median home price at $188,061.
Property Tax Assessment Values Across Hampshire, Dekalb County, Illinois
Source: Ownwell

$145,544
$224,239
$302,934
Median Hampshire Market Value
$188,061
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 Hampshire, Dekalb County, Illinois
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
60140 | $134,173 | $149,817 | $188,061 | $216,219 | $263,509 |
Source: Ownwell
Property Tax Bills Across Hampshire, Dekalb County, Illinois
Median Hampshire Tax Bill
$5,188
Median Dekalb County Tax Bill
$5,206
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Hampshire, Dekalb County, Illinois
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
60140 | $3,006 | $4,328 | $5,188 | $6,315 | $7,155 |
Source: Ownwell