Peoria Heights, Peoria County, Illinois Property Taxes

Name: Property Tax Bills Across Peoria Heights, Peoria County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Peoria Heights, IL effective property tax rate: 2.62%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Peoria Heights, IL home value: $74,040
Median annual Peoria Heights, IL tax bill: $1,800, $600 lower than the national median property tax bill of $2,400.

How are property taxes in Peoria calculated?

Property taxes in Peoria Heights, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Peoria Heights’ property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Peoria Heights, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Peoria Heights, Peoria County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.62%

Estimate Property Tax Bill

$1,940

$1,800

Ownwell’s Peoria Heights Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Peoria Heights with just two data points. By entering your property's estimated assessed value, our calculator applies Peoria Heights’ median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Peoria County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Peoria Heights, Peoria County, Illinois

As noted earlier, local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Peoria Heights’ effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Property Tax Rates Across Peoria Heights, Peoria County, Illinois

Source: Ownwell

2.10%

2.66%

3.22%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Peoria Heights Taxx Rate

2.62%

Median Effective Peoria County Taxx Rate

2.68%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Peoria Heights, Peoria County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61616	1.72%	2.24%	2.62%	3.06%	3.06%

Source: Ownwell

Property Tax Assessment Values Across Peoria Heights, Peoria County, Illinois

When examining property taxes in Peoria Heights, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Peoria County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

Assessment notices: In Peoria County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Peoria Heights.

For example, the median home price in Peoria Heights is $74,040, with tax bills ranging significantly across the county. The 61616 zip code has the highest median home price at $74,040.

Property Tax Assessment Values Across Peoria Heights, Peoria County, Illinois

Source: Ownwell

$15,870

$133,065

$250,260

Median Peoria Heights Market Value

$74,040

Median Peoria County Market Value

$93,150

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Peoria Heights, Peoria County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61616	$29,154	$52,560	$74,040	$105,855	$156,147

Source: Ownwell

Property Tax Bills Across Peoria Heights, Peoria County, Illinois

In Peoria Heights, IL, property tax bills are determined by assessing the market value of a home and applying the local tax rate. With a median home price of $74,040, homeowners face a tax bill that can range significantly. For instance, the 25th percentile tax bill is $1,189, while the 75th percentile reaches $2,676, and the 90th percentile can be as high as $4,335. The median property tax bill in this area is $1,800, slightly below the national median of $2,400. These taxes fund essential community services, but they can also be a financial burden for homeowners. Ownwell offers a solution by helping homeowners appeal their property tax assessments and secure exemptions, potentially lowering their tax bills. By leveraging their expertise, homeowners can ensure their property is accurately assessed, potentially saving hundreds or even thousands of dollars annually. This service not only reduces financial strain but also ensures that homeowners are not overpaying on their property taxes.

Property Tax Bills Across Peoria Heights, Peoria County, Illinois

Source: Ownwell

$439

$3,464

$6,489

Median Peoria Heights Tax Bill

$1,800

Median Peoria County Tax Bill

$2,323

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Peoria Heights, Peoria County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61616	$558	$1,189	$1,800	$2,676	$4,335

Source: Ownwell