Average Tax Assessment in De Witt County
Real Estate Values and Property Tax Valuation in De Witt County, Illinois
De Witt County has 873 properties with a cumulative value of $123.9M, representing 0.02% of all real estate value in Illinois. The total property taxes collected in De Witt County is $3.7M, with an average property tax rate of 2.97%, lower than the state average of 2.47%. The average homeowner in De Witt County pays $4,219 in property taxes, which is lower than the state average of $5,405. Property taxes are calculated based on the assessed value of the property.
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 | |
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De Witt Treasurer | (217) 935-7820 |
Important Dates | |
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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 | |
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Senior | Available |
Disabled | Available |
Homestead | Available |
Veteran | Available |
Solar/Wind | Available |
Charitable | Available |
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Real Estate Statistics in De Witt County
Residential Property Taxes by Cities in De Witt County
De Witt County has an average property tax rate of 2.97%, which is slightly higher than the state average of 2.90%. This rate is applied to all properties in the county, regardless of location. However, the effective property tax rate can vary significantly across the cities in the county. For example, the city of Clinton has the highest effective property tax rate of 2.47%, while the city of Farmer City has the lowest effective property tax rate of 1.90%. This means that property owners in Clinton will pay more in taxes than those in Farmer City.
Overall, De Witt County has a slightly higher than average property tax rate, but the rates can vary significantly across the cities. Property owners should be aware of the effective property tax rate in their city in order to ensure they are paying the correct amount of taxes. Additionally, property owners should also be aware of any changes to the property tax rate in their city in order to ensure they are not overpaying in taxes.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in De Witt 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.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
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Clinton | $45,748 | $77,340 | $123,273 | $203,268 | $284,770 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in De Witt County.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
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Clinton | $1,140 | $1,918 | $3,037 | $4,741 | $6,713 |
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.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
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Clinton | 2.49% | 2.48% | 2.46% | 2.33% | 2.36% |
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Real Estate Values in De Witt County
The data from Redfin shows that the median home price in De Witt County, Illinois decreased by 29.71% from October 2022 to October 2023. This indicates that the housing market in De Witt County is experiencing a downward trend in home prices. Additionally, the home inventory in De Witt County decreased from 40 in October 2022 to 35 in October 2023, which could be a contributing factor to the decrease in home prices.
Average Home Value in De Witt County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in De Witt County
Last updated: November 2023
Percent Change in New Home Listings in De Witt County
Last updated: November 2023
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Mortgage Rates in De Witt County
De Witt County has a total of $21.7M in outstanding home mortgage loans, representing 116 individual loans. This amount is equivalent to approximately 0.5% of the total home value in the county. The median mortgage rate in De Witt County is 3.88%, with Clinton having the highest median rate at 3.88%. This rate is slightly higher than the national average of 3.75%. However, there is a significant variation in mortgage rates across the county, with some cities having rates as low as 3.25%. This variation in rates allows borrowers to shop around and find the best deal for their needs.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in De Witt County by city.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
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Clinton | $41,167 | $58,777 | $141,373 | $246,880 | $350,290 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across De Witt County.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
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Clinton | 3.09% | 3.50% | 3.88% | 4.07% | 5.03% |
Housing Expenses in De Witt County, Illinois
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