Average Tax Assessment in Woodford County
Real Estate Values and Property Tax Valuation in Woodford County, Illinois
Woodford County has 14,829 properties with a cumulative value of $2.1B, representing 0.30% of all real estate value in Illinois. Property taxes in Woodford County totaled $50.3M, with an average homeowner paying $3,463 in property taxes, which is lower than the state average of $5,405. The average property tax rate in Woodford County is 2.38%, which is lower than the state average of 2.47%. Property taxes are 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 | |
|---|---|
| Woodford Property Valuation | (859) 873-4101 |
| Woodford Assessor | (309) 467-3708 |
| Woodford Sheriff /Tax Office | (859) 873-3119 |
| Woodford Recorder of Deeds | (309) 467-2822 |
| 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 Woodford County
Residential Property Taxes by Cities in Woodford County
Woodford County has an average property tax rate of 2.38%, which is slightly lower than the state average of 2.48%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. The average Woodford County property tax bill is $3,463, which is slightly higher than the state average of $3,400.
Property tax rates vary across the cities in Woodford County. The city with the highest effective property tax rate is Germantown Hills, with a rate of 2.55%. The city with the lowest effective property tax rate is Secor, with a rate of 2.15%. This means that property owners in Germantown Hills pay more in taxes than those in Secor. However, the difference in rates is not significant enough to make a major impact on the overall property tax burden in Woodford County.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Woodford 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 |
|---|---|---|---|---|---|
| Benson | $37,359 | $67,701 | $100,170 | $140,526 | $185,885 |
| Congerville | $6,141 | $49,482 | $167,350 | $243,652 | $321,689 |
| East Peoria | $12,025 | $82,511 | $142,138 | $203,720 | $262,815 |
| El Paso | $11,195 | $70,256 | $115,890 | $174,821 | $250,618 |
| Eureka | $7,883 | $87,447 | $137,390 | $182,374 | $235,711 |
| Germantown Hills | $121,112 | $170,158 | $214,124 | $278,024 | $331,184 |
| Goodfield | $17,540 | $101,728 | $169,923 | $242,710 | $292,252 |
| Metamora | $4,929 | $91,179 | $155,625 | $219,099 | $290,650 |
| Minonk | $11,638 | $44,100 | $85,161 | $127,557 | $179,561 |
| Roanoke | $19,740 | $58,300 | $96,831 | $137,573 | $186,609 |
| Secor | $4,118 | $25,437 | $71,784 | $177,072 | $283,114 |
| Washburn | $7,593 | $42,187 | $73,800 | $111,104 | $155,287 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Woodford County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benson | $762 | $1,363 | $2,212 | $3,218 | $4,460 |
| Congerville | $204 | $1,221 | $3,699 | $5,435 | $7,254 |
| East Peoria | $325 | $1,762 | $3,251 | $4,926 | $6,530 |
| El Paso | $296 | $1,542 | $2,729 | $4,256 | $6,152 |
| Eureka | $243 | $1,860 | $3,155 | $4,359 | $5,619 |
| Germantown Hills | $2,800 | $4,203 | $5,515 | $7,449 | $8,917 |
| Goodfield | $580 | $1,945 | $3,840 | $5,572 | $6,763 |
| Metamora | $177 | $2,137 | $3,812 | $5,606 | $7,483 |
| Minonk | $307 | $934 | $1,912 | $3,035 | $4,520 |
| Roanoke | $502 | $1,392 | $2,401 | $3,540 | $5,007 |
| Secor | $103 | $535 | $1,526 | $3,952 | $6,356 |
| Washburn | $203 | $886 | $1,813 | $2,732 | $3,922 |
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 |
|---|---|---|---|---|---|
| Benson | 2.04% | 2.01% | 2.21% | 2.29% | 2.40% |
| Congerville | 3.32% | 2.47% | 2.21% | 2.23% | 2.25% |
| East Peoria | 2.70% | 2.14% | 2.29% | 2.42% | 2.48% |
| El Paso | 2.64% | 2.19% | 2.35% | 2.43% | 2.45% |
| Eureka | 3.08% | 2.13% | 2.30% | 2.39% | 2.38% |
| Germantown Hills | 2.31% | 2.47% | 2.58% | 2.68% | 2.69% |
| Goodfield | 3.31% | 1.91% | 2.26% | 2.30% | 2.31% |
| Metamora | 3.59% | 2.34% | 2.45% | 2.56% | 2.57% |
| Minonk | 2.64% | 2.12% | 2.25% | 2.38% | 2.52% |
| Roanoke | 2.54% | 2.39% | 2.48% | 2.57% | 2.68% |
| Secor | 2.50% | 2.10% | 2.13% | 2.23% | 2.25% |
| Washburn | 2.67% | 2.10% | 2.46% | 2.46% | 2.53% |
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Real Estate Values in Woodford County
The data from Redfin shows that home prices in Woodford County, Illinois have increased significantly from October 2022 to October 2023. The median home price rose from $125.0K to $200.0K, representing a 60.00% increase. At the same time, the home inventory decreased from 88 to 57, indicating a decrease in the availability of homes in the area. This suggests that the demand for homes in Woodford County is increasing, driving up prices.
Average Home Value in Woodford County, Illinois
Last updated: November 2023
Percent Change in Total Home Sales in Woodford County
Last updated: November 2023
Percent Change in New Home Listings in Woodford County
Last updated: November 2023
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Mortgage Rates in Woodford County
Woodford County is home to a large number of outstanding home mortgages, with a total of $303.2M in outstanding loans. This represents a significant portion of the total home value in the county, indicating that many residents are taking advantage of the low interest rates available in the area. The median mortgage rate in Woodford County varies across cities, with Benson having the highest rate of 4.19% and Congerville having the lowest rate of 3.75%. This variation in rates can be beneficial for those looking to purchase a home in the county, as they can shop around for the best rate available. Overall, Woodford County is a great place to purchase a home, as the total outstanding loan amount is high and the rates are competitive.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Woodford County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benson | $33,692 | $59,480 | $87,787 | $113,218 | $145,842 |
| Congerville | $76,356 | $111,787 | $182,257 | $246,576 | $304,540 |
| East Peoria | $72,468 | $99,116 | $136,834 | $190,985 | $247,816 |
| El Paso | $53,980 | $79,351 | $113,362 | $146,277 | $213,591 |
| Eureka | $57,914 | $82,770 | $114,628 | $145,667 | $197,755 |
| Germantown Hills | $109,479 | $138,388 | $177,994 | $233,002 | $280,377 |
| Goodfield | $69,654 | $101,149 | $137,804 | $222,441 | $326,607 |
| Metamora | $83,634 | $115,730 | $152,708 | $213,815 | $301,680 |
| Minonk | $30,190 | $51,047 | $82,653 | $122,244 | $164,554 |
| Roanoke | $47,382 | $61,280 | $85,128 | $113,329 | $154,726 |
| Secor | $47,019 | $71,967 | $136,180 | $236,025 | $327,585 |
| Washburn | $40,109 | $53,760 | $79,168 | $107,123 | $147,543 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Woodford County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Benson | 2.80% | 3.56% | 4.19% | 4.53% | 4.94% |
| Congerville | 2.66% | 3.17% | 3.75% | 4.50% | 5.00% |
| East Peoria | 2.80% | 3.25% | 3.93% | 4.50% | 4.91% |
| El Paso | 2.75% | 3.10% | 3.88% | 4.50% | 5.00% |
| Eureka | 2.83% | 3.25% | 3.88% | 4.50% | 5.06% |
| Germantown Hills | 2.88% | 3.27% | 3.86% | 4.50% | 4.80% |
| Goodfield | 3.38% | 3.70% | 4.03% | 4.43% | 5.09% |
| Metamora | 2.80% | 3.20% | 3.89% | 4.50% | 4.90% |
| Minonk | 2.80% | 3.00% | 3.94% | 4.62% | 5.13% |
| Roanoke | 2.90% | 3.30% | 3.96% | 4.50% | 5.02% |
| Secor | 2.85% | 3.38% | 3.91% | 4.50% | 5.63% |
| Washburn | 2.87% | 3.20% | 3.88% | 4.50% | 4.99% |
Housing Expenses in Woodford County, Illinois
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