Hampshire, Dekalb County, Illinois Property Taxes

Name: Property Tax Bills Across Hampshire, Dekalb County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

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

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.78%

Estimate Property Tax Bill

$5,228

$4,852

Ownwell’s HAMPSHIRE Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in HAMPSHIRE with just two data points. By entering your property's estimated assessed value, our calculator applies HAMPSHIRE’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in DeKalb. For those interested in more localized information, please scroll down to explore city-level trends!

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.

Property Tax Rates Across Hampshire, Dekalb County, Illinois

Source: Ownwell

2.35%

2.89%

3.43%

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%

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

In Hampshire, located in DeKalb County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as local government budgets, school funding needs, and public services influence the tax rate, which in turn affects homeowners. In Hampshire, the median property tax bill is $5,188, significantly higher than the national median of $2,400. This means homeowners in the area may face a substantial financial burden. However, Ownwell can help alleviate this by offering property tax appeal services. By reviewing your property's assessed value and ensuring it accurately reflects the market conditions, Ownwell can assist in reducing your tax bill. Our expertise in identifying potential exemptions and inaccuracies ensures homeowners pay only what is fair, potentially saving them thousands of dollars annually.

Property Tax Bills Across Hampshire, Dekalb County, Illinois

Source: Ownwell

$3,270

$5,340

$7,410

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