Cuba, Fulton County, Illinois Property Taxes

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

Median Cuba, IL effective property tax rate: 2.79%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Cuba, IL home value: $81,712
Median annual Cuba, IL tax bill: $1,152, $1,248 lower than the national median property tax bill of $2,400.

How are property taxes in Fulton calculated?

Property taxes in Cuba, 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 Cuba’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cuba, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Cuba, Fulton County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.79%

Estimate Property Tax Bill

$2,280

$2,116

Ownwell’s Cuba Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cuba with just two data points. By entering your property's estimated assessed value, our calculator applies Cuba’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 Fulton County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Cuba, Fulton County, Illinois

Local government entities determine property tax rates, leading to significant variations within a state. This process involves estimating the necessary budget for public services and dividing it by the total assessed value of all taxable properties in the jurisdiction, resulting in the property tax rate. Though voting and legislation play roles in setting these rates and budgets, this is the core of the annual process.

In Cuba, located in Fulton County, Illinois, the effective property tax rate is 2.79%. This rate is notably higher than the national median property tax rate of 1.02%. Comparing this to other cities in Illinois, Cuba's rate represents both the highest and lowest median tax rate for its zip code. This consistency reflects a unique aspect of the local tax structure.

For property owners in Cuba, these rates translate into a significant financial commitment, especially when compared to the national median property tax bill of $2,400. Understanding these rates and their implications is crucial for property owners considering tax appeal or exemption services.

Property Tax Rates Across Cuba, Fulton County, Illinois

Source: Ownwell

1.39%

2.49%

3.59%

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 Cuba Taxx Rate

2.79%

Median Effective Fulton County Taxx Rate

2.71%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Cuba, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61427	1.43%	1.98%	2.79%	3.20%	3.20%

Source: Ownwell

Property Tax Assessment Values Across Cuba, Fulton County, Illinois

When examining property taxes in Cuba, Illinois, 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 Fulton County Assessor 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 Fulton 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 Cuba. For example, the median home price in Cuba is $81,712, with tax bills ranging significantly across the county. ZIP code 61427 has the highest median home price at $81,712.

Property Tax Assessment Values Across Cuba, Fulton County, Illinois

Source: Ownwell

$26,937

$71,044

$115,150

Median Cuba Market Value

$81,712

Median Fulton County Market Value

$71,967

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Cuba, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61427	$29,568	$48,859	$81,712	$127,748	$175,532

Source: Ownwell

Property Tax Bills Across Cuba, Fulton County, Illinois

In Cuba, located in Fulton County, IL, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value. Homeowners in Cuba face a median property tax bill of $1,152, which is below the national median of $2,400. Despite this, the tax burden can vary significantly. For instance, the 25th percentile tax bill is $612, while the 75th percentile reaches $1,855, and the 90th percentile can go as high as $2,974. These variations are influenced by factors such as property location, size, and local government budget needs. High property taxes can impact homeowners by increasing their annual expenses, potentially affecting their financial stability. Ownwell offers a solution by providing property tax appeal services, helping homeowners identify possible errors in their assessments and file appeals to lower their tax bills. By leveraging expert knowledge and experience, Ownwell can assist homeowners in reducing their property tax burden, leading to significant savings.

Property Tax Bills Across Cuba, Fulton County, Illinois

Source: Ownwell

$467

$949

$1,430

Median Cuba Tax Bill

$1,152

Median Fulton County Tax Bill

$1,058

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Cuba, Fulton County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61427	$286	$612	$1,152	$1,855	$2,974

Source: Ownwell