Elmwood residents paid property taxes amounting to 2.6% of their home values in the fourth quarter of 2025, BlockShopper.com reports, a figure that is more than three times the national rate.
The median sales price for properties in Elmwood during the same period was $117,000, determined from data on nine homes sold. For 2025, the city’s median property tax bill reached $3,078—2.6% of the median assessed value of taxed properties.
The average effective property tax rate nationwide was 0.888% in 2024.
Norwood and Elmwood posted the highest effective property tax rates among cities in Peoria County.
The article’s calculations of 2025 effective property tax rates use estimated inflation figures coupled with county 2023 tax data. Because of that, actual rates might show slight variances.
According to Redfin, national home prices continued their upward trend in 2025, with the median U.S. price standing at approximately $447,000 in June—a 1.13% increase from a year before. Additionally, there was a notable supply-demand difference, with 36% more sellers than buyers, representing a gap of 508,715 homes. By Redfin’s metrics, a balanced market has buyers and sellers within a 10% range of each other.
See below for a comparison of Norwood’s median effective property tax rate with other Peoria County cities, based on fourth quarter of 2025 property sales and tax data.
| City | Q4 2025 Sales | Q4 2025 Median Price | Median tax 2025 | Effective tax rate |
|---|---|---|---|---|
| Norwood | 2 | $78,500 | $2,385 | 3% |
| Elmwood | 9 | $117,000 | $3,078 | 2.6% |
| Peoria | 525 | $125,000 | $2,831 | 2.3% |
| Dunlap | 10 | $165,000 | $3,743 | 2.3% |
| Bartonville | 34 | $138,500 | $2,899 | 2.1% |
| Hanna City | 7 | $130,000 | $2,718 | 2.1% |
| Brimfield | 3 | $143,000 | $3,003 | 2.1% |
| Princeville | 7 | $155,000 | $3,100 | 2% |
| West Peoria | 24 | $101,250 | $1,946 | 1.9% |
| Chillicothe | 36 | $140,000 | $2,705 | 1.9% |
| Bellevue | 8 | $117,250 | $1,965 | 1.7% |
| Peoria Heights | 25 | $138,000 | $2,318 | 1.7% |
| Kingston Mines | 2 | $97,500 | $1,638 | 1.7% |
| Lake Camelot | 5 | $312,000 | $4,907 | 1.6% |
| Rome | 5 | $175,000 | $2,548 | 1.5% |
| Glasford | 4 | $160,000 | $2,151 | 1.3% |