Average Tax Assessment in Logan County
Real Estate Values and Property Tax Valuation in Logan County, Illinois
Logan County has 1,254 properties with a cumulative value of $244.4M, representing 0.03% of all real estate value in Illinois. Property taxes in Logan County totaled $5.9M, with an average homeowner paying $4,677 in property taxes, which is lower than the state average of $5,405. The average property tax rate in Logan County is 2.40%, which is lower than the state average of 2.47%. Property taxes are calculated based on the assessed value of the property, which is typically lower than the market value.
In Illinois, property taxes are based on the value of the property as of January 1st. Property owners have the option to appeal their property taxes between June and December, or within 30 days of when the notices are published. Property tax bills are issued on February 1st and July 1st, with the first installment due on June 1st in Cook County. This first installment is estimated at 55% of the prior year's tax bill, with taxes paid in arrears.
Updated November 01, 2023
| Important Links | |
|---|---|
| Logan Assessor | (217) 732-9635 |
| Logan Assessor | (304) 792-8520 |
| Logan Assessor | (405) 282-3509 |
| Logan Recorder | (937) 599-7201 |
| Important Dates | |
|---|---|
| Property Valuation Date: | January 1st |
| Property Tax Appeal Deadline: | June - December or 30 days after notices are published |
| Property Tax Bills Issued: | February 1st and July 1st |
| Real Property Tax Bill Due (1st of #): | June, Two installments but due dates may vary by county March 1st, Cook County - 1st half installment, estimated at 55% of prior year tax bill with taxes paid in arrears. |
| Real Property Tax Bill Due (2nd of #): | September, Two installments but due dates may vary by county August 1, Cook County - 2nd half installment - TARGETED but may be delayed - due 30 days after being issued. Reconciled installment using the BOR certified AV, actual local tax rate, and final state equalization factor, less the estimated 1st installment with taxes paid in arrears |
| Available Exemptions | |
|---|---|
| Senior | Available |
| Disabled | Available |
| Homestead | Available |
| Veteran | Available |
| Solar/Wind | Available |
| Charitable | Available |
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Real Estate Statistics in Logan County
Residential Property Taxes by Cities in Logan County
Logan County has an average property tax rate of 2.40%, which is slightly lower than the national average of 2.48%. This rate is applied to the assessed value of a property, and the resulting tax bill can vary significantly from one city to the next. For example, the city of Lincoln has an effective property tax rate of 2.35%, which is the lowest in the county. On the other hand, other cities in the county have higher effective property tax rates, such as Mount Pulaski, which has an effective rate of 2.50%.
Overall, Logan County has a relatively low property tax rate compared to other counties in the state. However, the rate can vary significantly from one city to the next, so it is important to research the effective property tax rate of any city before making a decision to purchase a property. Property taxes are an important source of revenue for local governments, and Logan County is no exception. In 2023, the county is expected to collect $5.9 million in property taxes.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Logan County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Lincoln | $39,723 | $83,970 | $142,155 | $229,260 | $321,102 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Logan County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Lincoln | $1,062 | $1,813 | $3,148 | $5,214 | $8,011 |
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Lincoln | 2.67% | 2.16% | 2.21% | 2.27% | 2.49% |
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Real Estate Values in Logan County
The median home price in Logan County, Illinois has increased by 1.82% from October 2022 to October 2023, from $114.7K to $116.8K. This is a positive trend for the housing market in Logan County. However, the home inventory in Logan County has decreased from 55 in October 2022 to 48 in October 2023, indicating that the demand for housing in the area is increasing.
Average Home Value in Logan County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Logan County
Last updated: November 2023
Percent Change in New Home Listings in Logan County
Last updated: November 2023
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Mortgage Rates in Logan County
Mortgages in Logan County are a significant part of the local economy, with a total of $19.8M in outstanding loans across the county. This represents a significant portion of the total home value in the county, with an average loan amount of $152,308. The median mortgage rate in Logan County is 3.89%, which is slightly lower than the national average. However, there is significant variation in mortgage rates across the county, with Lincoln having the highest median mortgage rate at 3.89%, while other cities such as West Logan and North Logan have lower rates of 3.75% and 3.67%, respectively. This variation in mortgage rates can be beneficial for homeowners looking to save money on their monthly payments.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Logan County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Lincoln | $22,378 | $47,210 | $91,561 | $168,057 | $245,785 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Logan County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Lincoln | 3.05% | 3.56% | 3.89% | 4.28% | 5.00% |
Housing Expenses in Logan County, Illinois
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