Malta, Dekalb County, Illinois Property Taxes
Median Malta, IL effective property tax rate: 2.91%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Malta, IL home value: $162,740
Median annual Malta, IL tax bill: $4,671, $2,271 higher than the national median property tax bill of $2,400.
How are property taxes in DeKalb calculated?
Property taxes in Malta, 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 Malta’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Malta, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Malta, Dekalb County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.91%
Estimate Property Tax Bill
$4,736
$4,395
Property Tax Rates Across Malta, 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. Below, you can compare Malta’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
Malta, located in DeKalb County, has a property tax rate that reflects the county's budgeting needs and property values. The median property tax rate in Illinois is significantly higher than the national median, highlighting the state's reliance on property taxes for local funding. This means that residents in Malta might experience higher property tax bills compared to the national average. Understanding these rates can help property owners make informed decisions about property tax appeals and exemptions. By analyzing Malta's property tax rate within the context of state and national figures, property owners can better comprehend their tax obligations and explore ways to potentially 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 Malta Taxx Rate
2.91%
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 Malta, Dekalb County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60150 | 2.23% | 2.65% | 2.91% | 3.25% | 3.31% |
Source: Ownwell
Property Tax Assessment Values Across Malta, Dekalb County, Illinois
When examining property taxes in Malta, 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 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 Malta. For example, the median home price in Malta is $162,740, with tax bills ranging significantly across the county. Zip code 60150 has the highest median home price at $162,740.
Property Tax Assessment Values Across Malta, Dekalb County, Illinois
Source: Ownwell
$145,544
$224,239
$302,934
Median Malta Market Value
$162,740
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 Malta, Dekalb County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60150 | $103,215 | $134,832 | $162,740 | $213,074 | $315,147 |
Source: Ownwell
Property Tax Bills Across Malta, Dekalb County, Illinois
In Malta, IL, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. Factors such as location, property size, and improvements can influence this assessed value. Homeowners in Malta face a median property tax bill of $4,671, significantly higher than the national median of $2,400. This discrepancy highlights the importance of understanding how property taxes are calculated and exploring potential savings. For instance, the 25th percentile tax bill is $3,658, while the 90th percentile tax bill can reach up to $9,535, indicating a wide range of tax burdens among homeowners.
Ownwell offers valuable assistance to homeowners by providing expert property tax appeal and exemption services. By assessing the property's valuation and identifying discrepancies or opportunities for exemptions, Ownwell can help reduce the overall tax burden. This service is especially beneficial for those paying higher-than-average tax bills, ensuring that homeowners pay only their fair share, potentially saving them thousands of dollars each year.
Median Malta Tax Bill
$4,671
Median Dekalb County Tax Bill
$5,206
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Malta, Dekalb County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60150 | $2,648 | $3,658 | $4,671 | $6,156 | $9,535 |
Source: Ownwell