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Chambana Sun

Thursday, May 2, 2024

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

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Property owners in Champaign County paid 2.2% the value of their homes in property taxes in the first quarter of 2023 which is more than 2 times the national average, according to the real estate analysis posted by the Chambana Sun.

The median sales price of a Champaign County home in the first quarter of 2023 was $158,700, based on data from the 492 properties sold during that time. In 2021 the median tax bill for the county was $3,543, which is 2.2% of the median value of the homes that were taxed.

This is 2 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Champaign County real estate data showed homeowners in Ogden, Lake of the Woods, and Urbana paid the highest rates.

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

CityQ1 2023 SalesQ1 2023 Median PriceMedian tax 2023Effective tax rate
Ogden3$28,000$3,26111.6%
Lake of the Woods5$158,500$4,2832.7%
Urbana112$153,500$4,0832.7%
Champaign229$167,028$4,4112.6%
Rantoul39$83,050$2,1952.6%
Seymour2$105,500$2,5522.4%
Homer5$107,000$2,4792.3%
Royal1$145,000$3,1372.2%
Fisher7$156,500$3,2262.1%
Dewey3$225,000$4,8342.1%
Philo2$162,750$3,3752.1%
Tolono9$150,000$3,1302.1%
Mahomet24$287,500$5,7172%
Savoy14$303,500$6,1752%
Bondville1$143,000$2,6591.9%
Pesotum2$138,000$2,4381.8%
Gifford7$195,000$3,3741.7%
St. Joseph8$240,750$4,2081.7%
Sadorus5$130,000$2,1541.7%
Sidney2$178,500$2,8561.6%
Broadlands1$125,000$1,9641.6%
Thomasboro6$136,450$1,9901.5%
Ivesdale2$164,950$2,2161.3%

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