Average Tax Assessment in Cumberland County
Real Estate Values and Property Tax Valuation in Cumberland County, Illinois
Cumberland County has 1,254 properties with a cumulative value of $150.9M, representing 0.02% of all real estate value in Illinois. Property taxes in Cumberland County totaled $2.7M, with an average homeowner paying $2,216 in property taxes compared to the state average of $5,405. The average property tax rate in Cumberland County is 1.77%, lower than the state average of 2.47%. Property taxes are calculated based on the assessed value of the property, which is typically lower than the market value.
In Illinois, property taxes are based on the value of the property as of January 1st. Property owners have the option to appeal their property taxes between June and December, or within 30 days of when the notices are published. Property tax bills are issued on February 1st and July 1st, with the first installment due on June 1st in Cook County. This first installment is estimated at 55% of the prior year's tax bill, with taxes paid in arrears.
Updated November 01, 2023
| Important Links | |
|---|---|
| Cumberland Assessor | (910) 678-7507 |
| Cumberland Assessor | (717) 240-6350 |
| Cumberland Commissioner of Revenue | (804) 492-4280 |
| Cumberland County Clerk | (270) 864-3726 |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Tax Appeal Deadline: | June - December or 30 days after notices are published |
| Property Tax Bills Issued: | February 1st and July 1st |
| Real Property Tax Bill Due (1st of #): | June, Two installments but due dates may vary by county March 1st, Cook County - 1st half installment, estimated at 55% of prior year tax bill with taxes paid in arrears. |
| Real Property Tax Bill Due (2nd of #): | September, Two installments but due dates may vary by county August 1, Cook County - 2nd half installment - TARGETED but may be delayed - due 30 days after being issued. Reconciled installment using the BOR certified AV, actual local tax rate, and final state equalization factor, less the estimated 1st installment with taxes paid in arrears |
| Available Exemptions | |
|---|---|
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Cumberland County
Residential Property Taxes by Cities in Cumberland County
Cumberland County has an average property tax rate of 1.77%, which is slightly lower than the national average of 1.89%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. The average property tax bill in Cumberland County is $2,216. Property tax rates vary across the cities in the county, with Greenup having the highest effective property tax rate of 1.82% and Toledo having the lowest effective property tax rate of 1.78%. This means that property owners in Greenup will pay slightly more in taxes than those in Toledo. Overall, Cumberland County has a relatively low property tax rate compared to other counties in the state, making it an attractive option for homeowners looking to save on their tax bills.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Cumberland County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Cumberland County.
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
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Real Estate Values in Cumberland County
The median home price in Cumberland County, Illinois has remained steady from October 2022 to October 2023, at $160.0K. However, the home inventory in the county has increased significantly, from 8 in October 2022 to 15 in October 2023. This suggests that the demand for homes in Cumberland County is increasing, and that the market is becoming more competitive.
Average Home Value in Cumberland County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Cumberland County
Last updated: November 2023
Percent Change in New Home Listings in Cumberland County
Last updated: November 2023
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Mortgage Rates in Cumberland County
According to the statistics, there are currently no outstanding loans in Cumberland County. This means that the total outstanding loan amount across home mortgages in Cumberland County is zero. Furthermore, the median mortgage rate in the county varies across cities, with the highest median mortgage rate being in one city and the lowest median mortgage rate being in another. This variation in rates across counties is indicative of the fact that mortgage rates can vary significantly depending on the location of the property.
Overall, the total outstanding loan amount across home mortgages in Cumberland County is zero, and the percentage to total home value is also zero. This indicates that the county is not heavily reliant on mortgages, and that the majority of homeowners are able to purchase their homes outright. However, the variation in mortgage rates across counties is still significant, and it is important for potential homebuyers to research the rates in their area before making a decision.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Cumberland County by city.
We currently do not have this data but we are working to add this soon.
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Cumberland County.
We currently do not have this data but we are working to add this soon.
Housing Expenses in Cumberland County, Illinois
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