De Land, Illinois Property Taxes
The median property tax rate in De Land, Illinois is 2.80%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in De Land at $305,199, the typical annual property tax bill reaches $8,807, far exceeding the national median of $2,690. Property taxes in De Land are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding De Land's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of De Land or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
De Land, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s DE LAND Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in DE LAND with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DE LAND to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across De Land, Illinois
Property taxes in De Land, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in De Land is 2.80%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within De Land set these rates annually, and they can vary significantly across different neighborhoods. Each year, De Land estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. Understanding how these cities compare with De Land provides valuable insights into the varying tax landscape across Piatt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average De Land Tax Rate
2.80%
Average Piatt County Tax Rate
2.43%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across De Land, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61839 | 2.41% | 2.54% | 2.80% | 2.93% | 3.21% |
Source: Ownwell
Property Tax Assessment Values Across De Land, Illinois
In DE LAND, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by local authorities for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In DE LAND, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in DE LAND helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Piatt County is $8807 in the 61839 zip code, while the lowest is also $8807 in the same zip code. This highlights the importance of understanding local tax dynamics to better manage property taxes.
Average De Land Assessed Value
$305,199
Average Piatt County Assessed Value
$166,770
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across De Land, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61839 | $98,217 | $169,130 | $305,199 | $417,662 | $677,667 |
Source: Ownwell
Property Tax Bills Across De Land, Illinois
In De Land, Piatt County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The tax rate is then applied to this assessed value. For instance, with a median home price of $305,199, the property tax bill can vary significantly. Homeowners in the 25th percentile may pay around $4,237, while those in the 75th percentile could see bills as high as $13,711. At the 90th percentile, the tax bill can reach up to $18,867. Several factors influence the final tax bill, including property size, location, and local government budgets. Compared to the national median property tax rate of 0.99%, the rates in De Land can lead to higher tax bills for homeowners, impacting their overall financial planning. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average De Land Tax Bill
$8,807
Average Piatt County Tax Bill
$4,197
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across De Land, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61839 | $2,941 | $4,237 | $8,807 | $13,711 | $18,867 |
Source: Ownwell