Average Tax Assessment in Peoria County
Real Estate Values and Property Tax Valuation in Peoria County, Illinois
Peoria County has a total of 65,805 properties, with a cumulative value of $8.3B. This accounts for 1.18% of all real estate value in Illinois. Property taxes in Peoria County totaled $213.6M, with an average property tax rate of 2.57%, which is slightly higher than the state average of 2.47%. The average Peoria County homeowner pays $3,318 in property taxes, which is lower than the state average of $5,405. 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 | |
|---|---|
| Peoria Recorder of Deeds | (309) 672-6090 |
| Peoria Treasurer | (309) 672-6065 |
| 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 Peoria County
Residential Property Taxes by Cities in Peoria County
Peoria County has an average property tax rate of 2.57%, which is slightly higher than the state average of 2.48%. The city of Peoria has the highest effective property tax rate in the county at 2.69%, while the city of Trivoli has the lowest effective property tax rate at 2.17%. This means that homeowners in Peoria will pay an average of $3,318 in property taxes, while homeowners in Trivoli will pay an average of $2,945.
Overall, Peoria County has a slightly higher property tax rate than the state average, but the rates vary significantly across the cities. Homeowners in Peoria will pay a higher rate than those in Trivoli, but the difference is not too drastic. Property taxes are an important source of revenue for local governments, and Peoria County is no exception. In 2023, the county is projected to collect $213.6 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 Peoria 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 |
|---|---|---|---|---|---|
| Bartonville | $52,869 | $72,458 | $95,160 | $124,282 | $159,381 |
| Brimfield | $72,237 | $114,070 | $179,505 | $271,945 | $384,717 |
| Chillicothe | $64,080 | $83,910 | $119,940 | $172,230 | $238,743 |
| Dunlap | $138,540 | $177,360 | $241,740 | $313,170 | $430,665 |
| Edelstein | $60,144 | $132,112 | $188,820 | $240,270 | $310,110 |
| Edwards | $94,200 | $167,670 | $238,110 | $308,580 | $386,355 |
| Elmwood | $62,490 | $87,585 | $127,302 | $178,838 | $253,086 |
| Glasford | $44,634 | $76,725 | $113,640 | $175,860 | $237,649 |
| Hanna City | $61,636 | $94,305 | $135,855 | $189,951 | $267,960 |
| Mapleton | $109,218 | $142,569 | $176,670 | $233,340 | $285,468 |
| Peoria Heights | $36,714 | $53,130 | $72,060 | $101,145 | $148,668 |
| Peoria | $19,800 | $39,945 | $85,050 | $139,560 | $208,740 |
| Princeville | $51,414 | $89,805 | $140,580 | $211,953 | $302,862 |
| Trivoli | $57,408 | $97,577 | $143,412 | $193,418 | $263,640 |
| West Peoria | $43,371 | $58,800 | $72,870 | $87,488 | $105,165 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Peoria County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bartonville | $1,179 | $1,795 | $2,527 | $3,500 | $4,568 |
| Brimfield | $1,416 | $2,565 | $4,196 | $6,630 | $9,691 |
| Chillicothe | $1,210 | $1,792 | $2,660 | $3,989 | $5,804 |
| Dunlap | $2,966 | $4,113 | $6,284 | $8,247 | $11,640 |
| Edelstein | $1,317 | $2,973 | $4,526 | $5,842 | $7,483 |
| Edwards | $1,815 | $3,689 | $6,067 | $8,332 | $10,604 |
| Elmwood | $1,342 | $2,102 | $3,106 | $4,545 | $6,745 |
| Glasford | $885 | $1,571 | $2,628 | $4,294 | $6,303 |
| Hanna City | $1,169 | $1,992 | $3,005 | $4,434 | $6,549 |
| Mapleton | $2,366 | $3,371 | $4,413 | $6,054 | $7,612 |
| Peoria Heights | $747 | $1,204 | $1,761 | $2,561 | $4,120 |
| Peoria | $529 | $995 | $2,202 | $3,878 | $5,968 |
| Princeville | $1,109 | $2,115 | $3,621 | $5,520 | $7,800 |
| Trivoli | $1,045 | $1,867 | $3,047 | $4,367 | $6,199 |
| West Peoria | $896 | $1,302 | $1,724 | $2,168 | $2,732 |
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 |
|---|---|---|---|---|---|
| Bartonville | 2.23% | 2.48% | 2.66% | 2.82% | 2.87% |
| Brimfield | 1.96% | 2.25% | 2.34% | 2.44% | 2.52% |
| Chillicothe | 1.89% | 2.14% | 2.22% | 2.32% | 2.43% |
| Dunlap | 2.14% | 2.32% | 2.60% | 2.63% | 2.70% |
| Edelstein | 2.19% | 2.25% | 2.40% | 2.43% | 2.41% |
| Edwards | 1.93% | 2.20% | 2.55% | 2.70% | 2.74% |
| Elmwood | 2.15% | 2.40% | 2.44% | 2.54% | 2.67% |
| Glasford | 1.98% | 2.05% | 2.31% | 2.44% | 2.65% |
| Hanna City | 1.90% | 2.11% | 2.21% | 2.33% | 2.44% |
| Mapleton | 2.17% | 2.36% | 2.50% | 2.59% | 2.67% |
| Peoria Heights | 2.03% | 2.27% | 2.44% | 2.53% | 2.77% |
| Peoria | 2.67% | 2.49% | 2.59% | 2.78% | 2.86% |
| Princeville | 2.16% | 2.36% | 2.58% | 2.60% | 2.58% |
| Trivoli | 1.82% | 1.91% | 2.12% | 2.26% | 2.35% |
| West Peoria | 2.07% | 2.21% | 2.37% | 2.48% | 2.60% |
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Real Estate Values in Peoria County
The data from Redfin shows that home prices in Peoria County, Illinois have decreased by 18.26% from October 2022 to October 2023. This indicates that the housing market in Peoria County has cooled off in the past year. Additionally, the home inventory in Peoria County has decreased by 32.6%, suggesting that there is less available housing in the area. This could be due to a decrease in demand or an increase in the number of homes being taken off the market. Overall, these trends suggest that the housing market in Peoria County is slowing down.
Average Home Value in Peoria County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Peoria County
Last updated: November 2023
Percent Change in New Home Listings in Peoria County
Last updated: November 2023
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Mortgage Rates in Peoria County
Mortgages in Peoria County are a major factor in the local economy. According to recent statistics, there is an estimated total of $1.5 billion in outstanding loan amounts across home mortgages in the county. This is spread across 10,600 individual loans, making up a significant portion of the total home value in the area.
The median mortgage rate in Peoria County varies across cities, with Peoria Heights having the highest rate at 3.89%, and Edelstein having the lowest at 3.62%. This variation in rates can make a significant difference in the amount of money that homeowners are paying each month on their mortgages. It is important for potential homebuyers to research the different rates available in their area in order to get the best deal.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Peoria County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bartonville | $41,906 | $61,671 | $81,522 | $113,233 | $144,735 |
| Brimfield | $64,971 | $100,754 | $147,748 | $209,198 | $311,871 |
| Chillicothe | $41,492 | $68,739 | $99,884 | $142,568 | $201,111 |
| Dunlap | $114,483 | $161,706 | $211,306 | $283,839 | $367,008 |
| Edelstein | $58,218 | $107,667 | $168,552 | $239,545 | $266,686 |
| Edwards | $108,875 | $158,013 | $226,980 | $290,400 | $349,546 |
| Elmwood | $50,884 | $77,302 | $108,824 | $152,071 | $248,273 |
| Glasford | $46,816 | $69,713 | $103,222 | $167,985 | $233,106 |
| Hanna City | $54,645 | $79,262 | $120,129 | $176,879 | $232,144 |
| Mapleton | $81,460 | $120,495 | $159,925 | $200,863 | $254,680 |
| Peoria Heights | $36,940 | $52,608 | $75,196 | $111,307 | $173,794 |
| Peoria | $41,867 | $64,435 | $99,618 | $149,602 | $223,678 |
| Princeville | $52,332 | $75,999 | $116,444 | $165,038 | $270,408 |
| Trivoli | $54,546 | $91,380 | $121,335 | $187,245 | $258,348 |
| West Peoria | $41,373 | $54,528 | $67,953 | $88,642 | $108,485 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Peoria County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bartonville | 2.90% | 3.20% | 3.76% | 4.40% | 4.80% |
| Brimfield | 2.82% | 3.13% | 3.81% | 4.30% | 4.75% |
| Chillicothe | 2.88% | 3.25% | 3.85% | 4.38% | 4.80% |
| Dunlap | 2.75% | 3.00% | 3.75% | 4.20% | 4.60% |
| Edelstein | 2.75% | 2.90% | 3.62% | 4.40% | 5.00% |
| Edwards | 2.80% | 3.10% | 3.73% | 4.19% | 4.60% |
| Elmwood | 2.81% | 3.24% | 3.75% | 4.40% | 4.75% |
| Glasford | 2.75% | 3.15% | 3.75% | 4.50% | 5.00% |
| Hanna City | 2.90% | 3.25% | 3.75% | 4.38% | 4.82% |
| Mapleton | 2.83% | 3.13% | 3.78% | 4.37% | 4.56% |
| Peoria Heights | 2.80% | 3.25% | 3.89% | 4.40% | 5.10% |
| Peoria | 2.80% | 3.10% | 3.75% | 4.38% | 4.88% |
| Princeville | 2.80% | 3.12% | 3.73% | 4.25% | 4.62% |
| Trivoli | 2.90% | 3.26% | 3.81% | 4.21% | 4.75% |
| West Peoria | 2.90% | 3.25% | 3.87% | 4.50% | 5.11% |
Housing Expenses in Peoria County, Illinois
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