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Peoria Standard

Monday, November 25, 2024

Effective property tax rate in Tazewell County outpaced the national average in Q1 2022

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Property owners in Tazewell County paid 2.4% of the value of their homes in property taxes in the first quarter of 2022, which is more than 2.1 times the national average, according to the real estate analysis posted by the Peoria Standard.

The median sales price of a Tazewell County home in the first quarter of 2022 was $123,000, based on data from the 567 properties sold during that time. In 2021 the median tax bill for the county was $2,887, which is 2.4% of the median value of the homes that were taxed.

This is 2.1 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Tazewell County real estate data showed homeowners in Hopedale, Armington, and Minier paid the highest rates.

The following table compares Hopedale with some other cities belonging to Tazewell County by their median effective property tax rate, calculated using sales and property tax data from the first quarter of 2022.

CityQ1 2022 SalesQ1 2022 Median PriceMedian tax 2022Effective tax rate
Hopedale7$79,000$3,0503.9%
Armington2$62,500$2,3753.8%
Minier7$90,000$3,0923.4%
Mackinaw11$110,000$3,4473.1%
Washington87$147,500$4,1352.8%
East Peoria125$120,000$3,2812.7%
Heritage Lake5$180,000$4,7972.7%
Creve Coeur25$64,600$1,6702.6%
Pekin157$90,000$2,3122.6%
Deer Creek6$118,650$3,1322.6%
Marquette Heights7$90,000$2,2432.5%
Morton78$217,500$4,4142%
Tremont12$198,500$3,9832%
Delavan16$140,450$2,7422%
South Pekin8$101,450$1,5091.5%
Green Valley9$180,000$2,5571.4%
North Pekin4$167,500$1,5850.9%

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