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Peoria Standard

Sunday, November 24, 2024

Analysis: Peoria County effective property tax rates outpaced the national average in Q3 2023

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Property owners in Peoria County paid 2.2% of the value of their homes in property taxes in the third quarter of 2023, which is more than 2 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 third quarter of 2023 was $132,000, based on data from the 909 properties sold during that time. In 2023, the median tax bill for the county was $2,926, which is 2.2% of the median value of the homes that were taxed.

This is 2 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 Rome, Elmwood, and Bellevue paid the highest rates.

The above article calculates the effective property tax rate for 2023 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 Rome with some other cities belonging to Peoria County by their median effective property tax rate, calculated using sales and property tax data from the third quarter of 2023.

CityQ3 2023 SalesQ3 2023 Median PriceMedian tax 2023Effective tax rate
Rome5$69,000$2,4713.6%
Elmwood9$94,000$3,1013.3%
Bellevue14$72,500$2,0712.9%
Brimfield8$113,497$2,8882.5%
Mapleton2$112,000$2,7562.5%
Bartonville46$123,500$2,8712.3%
Peoria560$124,950$2,7912.2%
Dunlap11$179,000$3,7472.1%
West Peoria28$95,000$1,9522.1%
Lake Camelot15$229,900$4,7222.1%
Princeville8$156,000$3,1902%
Chillicothe35$140,000$2,7011.9%
Glasford6$117,500$2,2241.9%
Hanna City4$142,750$2,6351.8%
Peoria Heights35$142,000$2,0081.4%
Kingston Mines2$130,250$1,6691.3%

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