Waterman, Dekalb County, Illinois Property Taxes
Median Waterman, IL effective property tax rate: 2.49%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Waterman, IL home value: $181,076
Median annual Waterman, IL tax bill: $4,475, $2,075 higher than the national median property tax bill of $2,400.
How are property taxes in DeKalb calculated?
Property taxes in Waterman, 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 Waterman’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Waterman, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Waterman, Dekalb County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.49%
Estimate Property Tax Bill
$4,509
$4,184
Property Tax Rates Across Waterman, Dekalb County, Illinois
Local government entities set tax rates, which can vary widely within a state. Why? Because 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 Waterman’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
Waterman in DeKalb County, Illinois, is subject to a property tax rate of 2.49%, which is significantly higher than the national median rate of 1.02%. This higher rate reflects the county's approach to funding public services and infrastructure. The median property tax rate in Illinois, represented by Waterman, is among the highest in the nation. This means that homeowners in Waterman pay more in property taxes compared to the national median property tax bill of $2400. Understanding these rates can help property owners make informed decisions about their investments and financial planning.
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 Waterman Taxx Rate
2.49%
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 Waterman, Dekalb County, Illinois
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
60556 | 2.10% | 2.32% | 2.49% | 2.74% | 2.87% |
Source: Ownwell
Property Tax Assessment Values Across Waterman, Dekalb County, Illinois
Property Tax Assessment Values Across Waterman, Dekalb County, Illinois
Source: Ownwell

$145,544
$224,239
$302,934
Median Waterman Market Value
$181,076
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 Waterman, Dekalb County, Illinois
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
60556 | $113,350 | $142,003 | $181,076 | $221,751 | $268,036 |
Source: Ownwell
Property Tax Bills Across Waterman, Dekalb County, Illinois
In Waterman, located in DeKalb County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. In Waterman, the median property tax bill is $4,475, significantly higher than the national median of $2,400. This can place a considerable financial burden on homeowners, especially when compared to the national median property tax rate of 1.02%.
Homeowners in Waterman can benefit from Ownwell's services, which specialize in property tax appeals and exemptions. By reviewing the assessed value of your property and comparing it to similar properties, Ownwell can identify potential discrepancies and help you file an appeal. This process can lead to a reduction in your property tax bill, providing significant savings. With Ownwell's expertise, homeowners can navigate the complex property tax system and ensure they are not overpaying.
Median Waterman Tax Bill
$4,475
Median Dekalb County Tax Bill
$5,206
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Waterman, Dekalb County, Illinois
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
60556 | $2,595 | $3,359 | $4,475 | $5,579 | $7,448 |
Source: Ownwell