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Peoria Standard

Tuesday, October 15, 2024

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

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Property owners in Woodford County paid 2.4% of the value of their homes in property taxes in the second quarter of 2024, 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 Woodford County home in the second quarter of 2024 was $175,000, based on data from the 122 properties sold during that time. In 2024, the median tax bill for the county was $4,109, 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 Woodford County real estate data showed homeowners in Germantown Hills, Secor, and Bay View Gardens paid the highest rates.

The above article calculates the effective property tax rate for 2024 using estimated inflation values and 2020 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

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

CityQ2 2024 SalesQ2 2024 Median PriceMedian tax 2024Effective tax rate
Germantown Hills7$157,000$6,0903.9%
Secor6$48,500$1,5883.3%
Bay View Gardens3$89,900$2,2172.5%
Metamora15$213,000$4,5062.1%
Roanoke12$137,000$2,8232.1%
Eureka15$190,750$3,8712%
Minonk13$120,000$2,2911.9%
El Paso12$171,000$3,1391.8%
Washburn4$131,500$2,1741.7%

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