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NW Illinois News

Tuesday, November 26, 2024

Analysis: Carroll County effective property tax rate outpaced the national average in Q1 2022

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Property owners in Carroll County paid 1.6% of the value of their homes in property taxes in the first quarter of 2022, which is more than 1.4 times the national average, according to the real estate analysis posted by the NW Illinois News.

The median sales price of a Carroll County home in the first quarter of 2022 was $109,950, based on data from the 20 properties sold during that time. In 2020 the median tax bill for the county was $1,750, which is 1.6% of the median value of the homes that were taxed.

This is 1.4 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Carroll County real estate data showed homeowners in Milledgeville, Mount Carroll, and Shannon paid the highest rates.

The following table compares Milledgeville with some other cities belonging to Carroll County by their median effective property tax rate, calculated using sales and property tax data from the first quarter of 2022.

CityQ1 2022 SalesQ1 2022 Median PriceMedian tax 2022Effective tax rate
Milledgeville2$36,496$2,0435.6%
Mount Carroll3$54,900$1,6383%
Shannon1$62,000$1,4152.3%
Thomson1$90,000$1,9532.2%
Lanark3$88,000$1,5851.8%
Savanna2$69,500$1,1881.7%

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