Peoria County Property Taxes
The median property tax rate in Peoria County is 2.68%, which is significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Peoria County at $93,150, the typical annual property tax bill reaches $2,323, which is still below the national median of $2,690. Property taxes in Peoria County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Peoria County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Peoria or another part of Peoria County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Peoria County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.68%
Estimate Property Tax Bill
$2,496
$2,317
Ownwell’s Peoria Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Peoria with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Peoria to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Peoria County, Illinois
Property taxes in Peoria play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Peoria is 2.68%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Peoria set these rates annually, and they can vary significantly between different areas within the county. Each year, Peoria estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Peoria's effective property tax rate with other counties in Illinois and the national median. For comparison, the city of Creve Coeur has one of the higher property tax rates in Illinois at 3.22%, while the city of Farmington boasts one of the lowest at 2.10%. Analyzing how Peoria's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Peoria County Tax Rate
2.68%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Peoria County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bartonville | 2.01% | 2.50% | 2.80% | 3.37% | 3.45% |
| Bellevue | 2.80% | 3.09% | 3.09% | 3.09% | 3.09% |
| Brimfield | 1.98% | 2.26% | 2.42% | 2.54% | 2.66% |
| Canton | 2.30% | 2.38% | 2.59% | 2.75% | 2.75% |
| Chillicothe | 1.78% | 2.09% | 2.31% | 2.50% | 2.79% |
| Creve Coeur | 3.22% | 3.22% | 3.22% | 3.22% | 3.22% |
| Dunlap | 2.07% | 2.24% | 2.54% | 2.77% | 2.85% |
| East Peoria | N/A | N/A | N/A | N/A | N/A |
| Edelstein | 2.04% | 2.23% | 2.37% | 2.50% | 2.71% |
| Edwards | 2.06% | 2.27% | 2.54% | 2.81% | 2.97% |
| Elmwood | 2.01% | 2.32% | 2.57% | 2.81% | 3.10% |
| Farmington | 1.88% | 1.93% | 2.10% | 2.41% | 2.50% |
| Glasford | 1.81% | 2.18% | 2.44% | 2.67% | 2.99% |
| Hanna City | 1.75% | 2.10% | 2.30% | 2.49% | 2.82% |
| Kingston Mines | 1.29% | 1.87% | 2.45% | 3.17% | 3.17% |
| Laura | 1.43% | 1.93% | 2.55% | 2.61% | 2.91% |
| Mapleton | 2.26% | 2.44% | 2.57% | 2.75% | 2.82% |
| Mossville | 1.48% | 1.94% | 2.25% | 2.69% | 2.69% |
| Peoria | 1.95% | 2.41% | 2.78% | 3.22% | 3.22% |
| Peoria Heights | 1.72% | 2.24% | 2.62% | 3.06% | 3.06% |
| Princeville | 1.99% | 2.31% | 2.58% | 2.79% | 3.18% |
| Rome | 1.79% | 2.03% | 2.50% | 2.50% | 2.50% |
| Sparland | 1.91% | 2.11% | 2.25% | 2.37% | 2.50% |
| Speer | 2.34% | 2.37% | 2.42% | 2.43% | 2.44% |
| Trivoli | 1.74% | 2.00% | 2.19% | 2.39% | 2.51% |
| West Peoria | 1.66% | 2.13% | 2.38% | 2.96% | 2.96% |
| Williamsfield | 2.07% | 2.14% | 2.17% | 2.30% | 2.70% |
Source: Ownwell
Property Tax Assessment Values Across Peoria County, Illinois
In Peoria County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Peoria County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Peoria County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. With median home prices around $93,150, the median property tax bills vary significantly, from $845 in Kingston Mines to $6,489 in Dunlap. Being aware of these valuation processes in Peoria County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Peoria County Assessed Value
$93,150
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Peoria County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bartonville | $35,994 | $69,960 | $95,010 | $126,405 | $161,985 |
| Bellevue | $18,900 | $32,325 | $55,620 | $88,455 | $96,660 |
| Brimfield | $44,199 | $102,390 | $170,145 | $257,618 | $377,769 |
| Canton | $86,868 | $106,875 | $135,450 | $159,202 | $170,529 |
| Chillicothe | $43,215 | $79,350 | $118,080 | $169,305 | $238,923 |
| Creve Coeur | $2,370 | $2,370 | $2,370 | $2,370 | $2,370 |
| Dunlap | $117,834 | $175,598 | $250,260 | $325,298 | $446,649 |
| East Peoria | N/A | N/A | N/A | N/A | N/A |
| Edelstein | $25,950 | $91,560 | $184,290 | $239,040 | $303,240 |
| Edwards | $1,659 | $105,075 | $222,015 | $305,370 | $383,961 |
| Elmwood | $23,103 | $75,052 | $111,630 | $156,615 | $227,433 |
| Farmington | $68,115 | $99,428 | $132,060 | $152,505 | $200,040 |
| Glasford | $23,370 | $68,340 | $106,230 | $162,606 | $224,460 |
| Hanna City | $38,979 | $84,922 | $128,040 | $179,220 | $252,495 |
| Kingston Mines | $5,700 | $19,860 | $50,145 | $76,695 | $93,426 |
| Laura | $3,426 | $11,940 | $55,260 | $87,870 | $146,208 |
| Mapleton | $8,265 | $108,788 | $169,995 | $226,838 | $281,073 |
| Mossville | $9,231 | $47,602 | $74,295 | $98,580 | $114,423 |
| Peoria | $12,780 | $32,400 | $81,330 | $141,690 | $212,472 |
| Peoria Heights | $29,154 | $52,560 | $74,040 | $105,855 | $156,147 |
| Princeville | $31,101 | $74,670 | $126,495 | $194,588 | $270,570 |
| Rome | $10,422 | $13,110 | $67,620 | $111,000 | $140,652 |
| Sparland | $88,044 | $114,210 | $157,590 | $219,930 | $310,404 |
| Speer | $121,554 | $133,155 | $152,490 | $156,255 | $158,514 |
| Trivoli | $28,170 | $83,385 | $131,730 | $176,228 | $236,985 |
| West Peoria | $34,500 | $58,680 | $75,690 | $92,010 | $111,804 |
| Williamsfield | $110,988 | $116,190 | $130,770 | $219,810 | $237,270 |
Source: Ownwell
Property Tax Bills Across Peoria County, Illinois
Property tax bills in Peoria County, Illinois, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. Homeowners in Peoria County experience a range of tax bills. For instance, the 25th percentile tax bill is $994, while the 75th percentile tax bill reaches $4,149. At the higher end, the 90th percentile tax bill can be as much as $6,702. The highest median tax bill in the county is found in Dunlap at $6,489, whereas Kingston Mines has the lowest median tax bill at $845. These figures highlight the variability in property tax bills within the county. With a national median property tax rate of 0.99%, Peoria County's tax bills reflect a diverse range of property values and local tax rates, significantly impacting homeowners' financial responsibilities.
Average Peoria County Tax Bill
$2,323
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Peoria County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bartonville | $787 | $1,746 | $2,541 | $3,555 | $4,647 |
| Bellevue | $583 | $998 | $1,717 | $2,354 | $2,706 |
| Brimfield | $880 | $2,290 | $3,985 | $6,299 | $9,490 |
| Canton | $2,392 | $2,943 | $3,482 | $3,785 | $3,911 |
| Chillicothe | $790 | $1,663 | $2,580 | $3,873 | $5,756 |
| Creve Coeur | $76 | $76 | $76 | $76 | $76 |
| Dunlap | $2,668 | $4,189 | $6,489 | $8,543 | $12,120 |
| East Peoria | N/A | N/A | N/A | N/A | N/A |
| Edelstein | $731 | $2,059 | $4,120 | $5,559 | $7,192 |
| Edwards | $95 | $2,255 | $5,460 | $8,232 | $10,609 |
| Elmwood | $666 | $1,772 | $2,754 | $4,029 | $5,889 |
| Farmington | $1,125 | $1,891 | $2,467 | $3,362 | $4,557 |
| Glasford | $556 | $1,426 | $2,465 | $3,830 | $5,549 |
| Hanna City | $810 | $1,767 | $2,903 | $4,081 | $6,104 |
| Kingston Mines | $162 | $401 | $845 | $1,816 | $2,394 |
| Laura | $88 | $227 | $1,002 | $1,955 | $3,746 |
| Mapleton | $252 | $2,540 | $4,140 | $5,815 | $7,501 |
| Mossville | $262 | $778 | $1,549 | $2,221 | $2,693 |
| Peoria | $342 | $821 | $2,059 | $3,830 | $5,946 |
| Peoria Heights | $558 | $1,189 | $1,800 | $2,676 | $4,335 |
| Princeville | $733 | $1,701 | $3,138 | $4,933 | $7,139 |
| Rome | $261 | $328 | $1,384 | $2,290 | $3,269 |
| Sparland | $1,862 | $2,410 | $3,605 | $5,057 | $7,323 |
| Speer | $2,845 | $3,164 | $3,695 | $3,799 | $3,861 |
| Trivoli | $610 | $1,636 | $2,790 | $3,866 | $5,418 |
| West Peoria | $670 | $1,261 | $1,765 | $2,220 | $2,812 |
| Williamsfield | $2,388 | $2,521 | $3,010 | $4,460 | $6,224 |
Source: Ownwell