East Peoria, Peoria County, Illinois Property Taxes
Median East Peoria, IL effective property tax rate: 2.86%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.
Median East Peoria, IL home value: $1,440
Median annual East Peoria, IL tax bill: $41, $2,359 lower than the national median property tax bill of $2,400.
How are property taxes in Peoria calculated?
Property taxes in East Peoria, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding East Peoria's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in East Peoria, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
East Peoria, Peoria County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.86%
Estimate Property Tax Bill
$41
$38
Property Tax Rates Across East Peoria, Peoria County, Illinois
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective East Peoria Tax Rate
2.86%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Peoria County Tax Rate
2.62%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across East Peoria, Peoria County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61611 | 2.86% | 2.86% | 2.86% | 3.01% | 3.02% |
Source: Ownwell
Property Tax Assessment Values Across East Peoria, Peoria County, Illinois
When examining property taxes in East Peoria, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Peoria County assessment office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Peoria County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in East Peoria. For example, the median home price in East Peoria is $1,440, with tax bills ranging significantly across the county. Zip code 61611 has the highest median home price at $1,440.
Property Tax Assessment Values Across East Peoria, Peoria County, Illinois
Source: Ownwell
$1,440
$145,470
$289,500
Median East Peoria Market Value
$1,440
Median Peoria County Market Value
$109,950
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across East Peoria, Peoria County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61611 | $1,092 | $1,395 | $1,440 | $5,460 | $7,968 |
Source: Ownwell
Property Tax Bills Across East Peoria, Peoria County, Illinois
In East Peoria, IL, property tax bills are determined by assessing the property's market value and applying the local tax rate. This assessment considers various factors, including the property's location, size, and any improvements made. The median property tax bill in Peoria County is significantly lower than the national median, highlighting a more favorable tax environment for homeowners. However, even within this region, tax bills can vary widely, with the 25th percentile at $41 and the 90th percentile reaching $228. These variations can significantly impact homeowners, as a higher tax bill can strain household budgets.
Ownwell offers a valuable service by helping homeowners navigate these complexities and potentially save on their property tax bills. By providing expert guidance and appealing incorrect assessments, Ownwell ensures that homeowners are not overpaying. This service can lead to substantial savings, especially for those in higher tax brackets. With Ownwell's expertise, homeowners in East Peoria can achieve greater financial peace of mind by ensuring their property taxes are fair and accurate.
Median East Peoria Tax Bill
$41
Median Peoria County Tax Bill
$2,655
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across East Peoria, Peoria County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61611 | $33 | $41 | $41 | $156 | $228 |
Source: Ownwell