Cullom, Livingston County, Illinois Property Taxes
Median Cullom, IL effective property tax rate: 2.94%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median Cullom, IL home value: $155,529. Median annual Cullom, IL tax bill: $4,977, $2,577 higher than the national median property tax bill of $2,400.
How are property taxes in Livingston calculated?
Property taxes in Cullom, 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 Cullom’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cullom, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cullom, Livingston County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.94%
Estimate Property Tax Bill
$4,573
$4,243
Property Tax Rates Across Cullom, Livingston County, Illinois
Local government entities set tax rates, which can vary widely within Illinois. Each year, counties like Livingston estimate their required budget to provide services and divide that by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.
Cullom in Livingston County has an effective property tax rate of 2.94%, which is significantly higher than the national median of 1.02%. This places Cullom among the municipalities with the highest property tax rates in Illinois. The state's median property tax rate is also above the national median, reflecting the overall trend in Illinois. Despite the higher rates, property tax revenues support essential public services, contributing to community development and infrastructure.
Comparing Cullom’s effective property tax rate to other cities in Illinois and the U.S. highlights the importance of understanding local tax policies. This knowledge can be crucial for property owners seeking to manage their tax liabilities effectively.
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 Cullom Tax Rate
2.94%
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 Livingston County Tax Rate
3.02%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Cullom, Livingston County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60929 | 2.66% | 2.92% | 2.94% | 3.21% | 3.42% |
Source: Ownwell
Property Tax Assessment Values Across Cullom, Livingston County, Illinois
When examining property taxes in Cullom, 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 Livingston 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 Livingston 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 Cullom.
For example, the median home price in Cullom is $155,529, with tax bills ranging significantly across the county. Zip code 60929 has the highest median home price at $155,529.
Property Tax Assessment Values Across Cullom, Livingston County, Illinois
Source: Ownwell
$103,203
$160,239
$217,275
Median Cullom Market Value
$155,529
Median Livingston County Market Value
$144,219
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cullom, Livingston County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60929 | $42,419 | $75,858 | $155,529 | $223,032 | $333,312 |
Source: Ownwell
Property Tax Bills Across Cullom, Livingston County, Illinois
In Cullom, located in Livingston County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Cullom, understanding this process is crucial as property taxes can significantly impact household finances. The median home price in Cullom is $155,529, and the property tax bill can vary widely, with the 25th percentile at $2,472 and the 75th percentile at $6,334. Notably, the highest median tax bill in the area is $4,977. These figures highlight the potential for substantial property tax expenses, which can be a burden for many homeowners.
Ownwell offers a solution by providing expert property tax appeal and exemption services. By analyzing individual property assessments and identifying discrepancies, Ownwell helps homeowners potentially reduce their tax liabilities. This service can lead to significant savings, easing the financial burden of high property tax bills and ensuring homeowners are not overpaying.
Median Cullom Tax Bill
$4,977
Median Livingston County Tax Bill
$4,592
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Cullom, Livingston County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60929 | $1,349 | $2,472 | $4,977 | $6,334 | $11,102 |
Source: Ownwell