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Peoria Standard

Saturday, September 28, 2024

Analysis: Peoria County effective property tax rates outpaced the national average in Q1

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Property owners in Peoria County paid 2.9% of the value of their homes in property taxes in the first quarter of 2024, which is more than 2.6 times the national average, according to the real estate analysis posted by Peoria Standard.

The median sales price of a Peoria County home in the first quarter of 2024 was $103,000, based on data from the 627 properties sold during that time. In 2024, the median tax bill for the county was $3,029, which is 2.9% of the median value of the homes that were taxed.

This is 2.6 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Peoria County real estate data showed homeowners in Bellevue, Peoria, and Dunlap paid the highest rates.

The above article calculates the effective property tax rate for 2024 using estimated inflation values and 2021 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Bellevue with some other cities belonging to Peoria County by their median effective property tax rate, calculated using sales and property tax data from the first quarter of 2024.

CityQ1 2024 SalesQ1 2024 Median PriceMedian tax 2024Effective tax rate
Bellevue8$59,500$2,1443.6%
Peoria419$85,000$2,8893.4%
Dunlap3$157,500$3,8782.5%
Elmwood6$131,250$3,2102.4%
Brimfield6$122,500$2,9892.4%
Lake Camelot8$216,450$4,8872.3%
Bartonville18$135,950$2,9712.2%
Rome2$114,000$2,5572.2%
Chillicothe19$130,000$2,7952.2%
West Peoria24$97,450$2,0202.1%
Glasford5$110,000$2,3022.1%
Peoria Heights30$105,000$2,0792%
Norwood2$189,500$2,4641.3%

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