Here’s what your 2023 DeKalb County property tax bill will look like

SYCAMORE – The DeKalb County Board this week approved a plan to collect $26.7 million with its 2023 property tax levy, which means most area homeowners likely will see a slight decrease on their bills come spring.

The 2023-24 DeKalb County property tax levy is expected to bring in about $26,737,114 in revenue, and see the rate decrease by 6.58% from 0.97 in 2022 to 0.91 for 2023 taxes, according to DeKalb County documents.

DeKalb County Administrator Brian Gregory said because that rate decrease is larger than the estimated average increase in local property values, taxpayers likely are to see some relief.

“The county has 19 townships, and each township has a multiplier essentially that goes up or down in value, and the average of all townships is an increase of 6.04%,” Gregory said. “The county’s rate that’s proposed in this ordinance would drop our tax rate by 6.58%. So if your value goes up a little over six, and your rate goes down a little over six and a half percent, on average, you would see a slight reduction on your county portion of your property tax bill.”

Not all townships are below the average, Gregory said, but he reasoned taking the average allows the county to help the most property owners as possible.

The owner of a property valued at $200,000 would have paid $647.19 in property taxes to DeKalb County on their 2022 bill this past spring, according to county documents. Assuming that property’s value went up by the county average, the owner will pay $641.13 on a home now worth $212,000, according to county estimates.

While the property tax levy rate will go down, the county government is expected to increase its revenue collection by 3.78%.

Although the county decreased the property tax rate, the total amount of money collected in the 2023-24 property tax levy extension will increase by 3.78% because of a rise in property values and economic development in the county, officials said. According to county documents, DeKalb County will levy $1.2 million from new properties that are estimated to have a total value of $134 million.

“Our general policy of holding the amount of the levy more or less constant over the last couple of years we’re proposing to continue while still managing to fund the [DeKalb County Rehab and Nursing Center],” said DeKalb County Board member Scott Campbell, a Democrat from District 7.

Gregory said tax revenue from new properties have allowed the county to reduce the property tax rate over the past three years. This year’s tax rate reduction was calculated after the $8.3 million contract to sell the DeKalb County Rehab and Nursing Center to third party buyers was terminated in early October.

“The board took steps, even with some of the financial challenges, to lower the rate,” Gregory said.