62447 Property Tax Rate

Property owners in ZIP code 62447 (Neoga, Illinois) pay a median of $2,512/year in property taxes on homes valued at $153,500. This translates to an effective tax rate of 1.64%, which is 13% below the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 62447 is approximately $209, which factors into escrow payments on mortgages. This ZIP code is located within Cumberland County. This is $989 less than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 62447 has lower property taxes. ZIP codes with similar effective rates include 60646 (1.64%) and 60661 (1.64%).

In Neoga, property taxes represent approximately 3.0% of the median household income of $84,158, providing context for the relative tax burden on homeowners in this area.

Illinois caps assessed value increases at 7% per year, ensuring your tax bill grows at a predictable, manageable pace. Cumberland County homeowners qualify for the General Homestead Exemption ($10,000 assessed value reduction), yielding approximately $149–$298 in annual tax savings. Submit your exemption application to the Cumberland County Assessor within one month of closing to secure this benefit.