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Peoria Standard

Sunday, November 24, 2024

Analysis: Tazewell County effective property tax rates outpaced the national average in Q2 2023

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Property owners in Tazewell County paid 2.4% of the value of their homes in property taxes in the second quarter of 2023, which is more than 2.1 times the national average, according to the real estate analysis posted by Peoria Standard.

The median sales price of a Tazewell County home in the second quarter of 2023 was $140,000, based on data from the 632 properties sold during that time. In 2023, the median tax bill for the county was $3,291, 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 Green Valley, Deer Creek, and Hopedale 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 Green Valley with some other cities belonging to Tazewell County by their median effective property tax rate, calculated using sales and property tax data from the second quarter of 2023.

CityQ2 2023 SalesQ2 2023 Median PriceMedian tax 2023Effective tax rate
Green Valley8$101,875$2,7242.7%
Deer Creek4$129,950$3,3362.6%
Hopedale7$125,000$3,2502.6%
East Peoria125$140,000$3,4962.5%
Washington92$182,500$4,4052.4%
Mackinaw19$153,000$3,6722.4%
Pekin180$108,000$2,4632.3%
Marquette Heights14$103,000$2,3902.3%
Creve Coeur29$80,000$1,7792.2%
Morton82$218,500$4,7022.2%
Delavan26$137,500$2,9212.1%
Heritage Lake3$251,213$5,1102%
Tremont21$227,000$4,2431.9%
Minier6$185,000$3,2951.8%
South Pekin4$95,499$1,6081.7%
North Pekin10$100,000$1,6891.7%
Armington2$440,000$2,5300.6%

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