Pekin’s median commercial property tax rate was 2.8% for fiscal year 2025, the lowest within Tazewell County, according to BlockShopper.com.
The countywide median for the same time period was 2.9%, placing Pekin 0.1 percentage points below the county average.
East Peoria matched the Tazewell County median with a 2.9% commercial property tax rate in fiscal year 2025.
Across the three cities in Tazewell County, rates varied from 2.8% in East Peoria to 6% in Washington.
For fiscal year 2024, Pekin’s median commercial property tax rate had been 3.1%, also placing it second in the county.
A national analysis by the Lincoln Institute of Land Policy showed that in 2024, commercial property tax rates averaged 1.76% across 53 major U.S. cities. According to the study, a $1 million property, with $200,000 in fixtures, would result in an annual tax bill of about $21,060. The report found considerable variation, with rates from below 1% in certain cities to as high as 4% elsewhere.
Different states may use classification systems that create higher effective tax rates for commercial, industrial and apartment properties compared to residential properties. In some localities, businesses are taxed at rates several times above those for homes; for example, Charleston’s rate can be roughly six times higher.
| Rank | City | Tax Rate % |
|---|---|---|
| 1 | Washington | 6% |
| 2 | Pekin | 2.8% |
| 2 | East Peoria | 2.8% |
| Rank | Address | Tax Rate % |
|---|---|---|
| 1 | 1216 14th St. | 6.6% |
| 2 | 206 Derby St. | 5.3% |
| 3 | Front Street | 4.7% |
| 4 | 1440 N. Eighth St. | 4.4% |
| 5 | 2207 Broadway St. | 2.8% |
| 6 | 211 Eighth St. | 2.5% |
| 7 | 407 Third St. | 1.3% |
| 8 | 718 Court St. | 0.6% |
| 8 | 1610 Broadway St. | 0.6% |
Note: Certain property addresses might be incomplete or omitted due to county assessor data limitations.
This article’s information comes from BlockShopper.com. Access the original source data here.
