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Saturday, November 23, 2024

Champaign County effective property tax rate in Q2 was higher than the national average

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The Office Of Champaign County Recorder Of Deeds Aaron Ammons (2023) | The Office Of Champaign County Recorder Of Deeds

The Office Of Champaign County Recorder Of Deeds Aaron Ammons (2023) | The Office Of Champaign County Recorder Of Deeds

Property owners in Champaign County paid 2% of the value of their homes in property taxes in the second quarter of 2024, which is more than 1.8 times the national average, according to the real estate analysis posted by Chambana Sun.

The median sales price of a Champaign County home in the second quarter of 2024 was $208,300, based on data from the 603 properties sold during that time. In 2024, the median tax bill for the county was $4,181, which is 2% of the median value of the homes that were taxed.

This is 1.8 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 Sidney, Thomasboro, and Fisher paid the highest rates.

The above article calculates the effective property tax rate for 2024 using estimated inflation values and 2021 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Sidney with some other cities belonging to Champaign County by their median effective property tax rate, calculated using sales and property tax data from the second quarter of 2024.

CityQ2 2024 SalesQ2 2024 Median PriceMedian tax 2024Effective tax rate
Sidney3$22,500$2,95613.1%
Thomasboro4$47,500$2,0594.3%
Fisher10$140,600$3,3392.4%
Urbana171$188,000$4,2262.2%
Philo4$160,000$3,4932.2%
Champaign247$229,900$4,5662%
Savoy27$325,000$6,3912%
Ludlow2$72,500$1,4582%
Lake of the Woods2$233,750$4,4331.9%
Royal3$170,000$3,2471.9%
Tolono7$169,000$3,2401.9%
Gifford6$199,450$3,4931.8%
Rantoul43$123,000$2,2721.8%
Mahomet41$350,000$5,9181.7%
St. Joseph13$250,000$4,3551.7%
Ogden5$200,000$3,3761.7%
Ivesdale2$145,000$2,2941.6%
Homer5$177,000$2,5661.4%
Pesotum2$187,500$2,5241.3%
Broadlands2$196,000$2,0331%

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