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DeKalb Times

Sunday, November 24, 2024

Effective property tax rate in DeKalb County outpaced the national average in Q3 2022

Re 12

Property owners in DeKalb County paid 2.4% of the value of their homes in property taxes in the third quarter of 2022, which is more than 2.2 times the national average, according to the real estate analysis posted by the DeKalb Times.

The median sales price of a DeKalb County home in the third quarter of 2022 was $208,500, based on data from the 110 properties sold during that time. In 2021 the median tax bill for the county was $5,038, which is 2.4% of the median value of the homes that were taxed.

This is 2.2 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of DeKalb County real estate data showed homeowners in Malta and Hinckley paid the highest rates.

The following table compares Malta with some other cities belonging to DeKalb County by their median effective property tax rate, calculated using sales and property tax data from the third quarter of 2022.

CityQ3 2022 SalesQ3 2022 Median PriceMedian tax 2022Effective tax rate
Malta1$75,000$5,0666.8%
Hinckley3$164,000$6,0893.7%
Waterman5$146,000$4,7603.3%
Kingston2$169,250$5,5593.3%
DeKalb38$181,250$5,2362.9%
Cortland2$235,450$6,1612.6%
Sycamore31$225,000$5,7202.5%
Genoa8$225,000$5,4622.4%
Somonauk3$235,000$5,3142.3%
Maple Park4$334,750$7,6362.3%
Kirkland4$215,750$4,9552.3%
Sandwich9$247,000$4,9862%

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