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Saturday, November 23, 2024

Analysis: Carroll County effective property tax rates outpaced the national average in Q2 2023

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Property owners in Carroll County paid 2.3% of the value of their homes in property taxes in the second quarter of 2023, which is more than 2.1 times the national average, according to the real estate analysis posted by NW Illinois News.

The median sales price of a Carroll County home in the second quarter of 2023 was $87,750, based on data from the 90 properties sold during that time. In 2023, the median tax bill for the county was $2,030, which is 2.3% of the median value of the homes that were taxed.

This is 2.1 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 Mount Carroll and Thomson paid the highest rates.

The above article calculates the effective property tax rate for 2023 using estimated inflation values and 2020 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Mount Carroll with some other cities belonging to Carroll County by their median effective property tax rate, calculated using sales and property tax data from the second quarter of 2023.

CityQ2 2023 SalesQ2 2023 Median PriceMedian tax 2023Effective tax rate
Mount Carroll10$67,250$1,7442.6%
Thomson5$84,000$2,0782.5%
Savanna27$65,500$1,2641.9%
Milledgeville11$116,700$2,1741.9%
Shannon8$85,500$1,5061.8%

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