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Peoria Standard

Tuesday, November 26, 2024

Analysis: Tazewell County effective property tax rate outpaced the national average in Q3 2022

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Property owners in Tazewell County paid 2.1% of the value of their homes in property taxes in the third quarter of 2022, which is more than 1.9 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 third quarter of 2022 was $136,000, based on data from the 753 properties sold during that time. In 2021 the median tax bill for the county was $2,887, which is 2.1% of the median value of the homes that were taxed.

This is 1.9 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 Heritage Lake, Delavan, and Marquette Heights paid the highest rates.

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

CityQ3 2022 SalesQ3 2022 Median PriceMedian tax 2022Effective tax rate
Heritage Lake6$180,000$4,7972.7%
Delavan17$103,000$2,7422.7%
Marquette Heights19$86,000$2,2432.6%
East Peoria152$130,000$3,2812.5%
Washington116$170,000$4,1352.4%
Hopedale9$127,000$3,0502.4%
Creve Coeur41$74,000$1,6702.3%
Morton98$188,750$4,4142.3%
Tremont20$172,500$3,9832.3%
Armington2$101,250$2,3752.3%
Mackinaw23$161,500$3,4472.1%
Pekin211$116,000$2,3122%
Minier13$151,000$3,0922%
North Pekin3$81,000$1,5852%
Green Valley7$150,000$2,5571.7%
Deer Creek8$206,775$3,1321.5%
South Pekin7$109,500$1,5091.4%

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