West Peoria, Peoria County, Illinois Property Taxes

Name: Property Tax Bills Across West Peoria, Peoria County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median WEST PEORIA, IL effective property tax rate: 2.38%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median WEST PEORIA, IL home value: $75,690
Median annual WEST PEORIA, IL tax bill: $1,765, $635 lower than the national median property tax bill of $2,400.

How are property taxes in Peoria calculated?

Property taxes in WEST 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 WEST PEORIA’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in WEST PEORIA, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

West Peoria, Peoria County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.31%

Estimate Property Tax Bill

$2,006

$1,862

Ownwell’s WEST PEORIA Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in WEST PEORIA with just two data points. By entering your property's estimated assessed value, our calculator applies WEST PEORIA’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Peoria. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across West Peoria, Peoria County, Illinois

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. West Peoria in Peoria County, IL, has an effective property tax rate of 2.38%, significantly higher than the national median of 1.02%. This rate is also the highest and lowest within the 61604 zip code, reflecting uniformity in the area. The median property tax bill here is considerably above the national median of $2,400. This stark contrast highlights the importance of understanding local tax dynamics and exploring potential tax appeal and exemption services to manage property tax liabilities effectively.

Property Tax Rates Across West Peoria, Peoria County, Illinois

Source: Ownwell

2.13%

2.57%

3.02%

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 West Peoria Tax Rate

2.31%

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 West Peoria, Peoria County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61604	1.60%	2.09%	2.31%	2.76%	2.76%

Source: Ownwell

Property Tax Assessment Values Across West Peoria, Peoria County, Illinois

When examining property taxes in West 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 Assessor's 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.

Assessment notices: In Peoria County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 West Peoria.

For example, the median home price in West Peoria is $75,690, with tax bills ranging significantly across the county. Zip code 61604 has the highest median home price at $75,690.

Property Tax Assessment Values Across West Peoria, Peoria County, Illinois

Source: Ownwell

$1,440

$145,470

$289,500

Median West Peoria Market Value

$86,850

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 West Peoria, Peoria County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61604	$41,973	$67,792	$86,850	$105,428	$128,694

Source: Ownwell

Property Tax Bills Across West Peoria, Peoria County, Illinois

In West Peoria, IL, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Several factors influence this calculation, including changes in the local budget, school funding needs, and infrastructure projects. Homeowners in West Peoria face a median property tax bill of $1,765, which is below the national median of $2,400. However, the tax bill can vary significantly, with the 25th percentile at $1,261 and the 90th percentile reaching $2,812, indicating a range of tax burdens depending on property value and location within Peoria County. Homeowners can find these taxes burdensome, especially if property values increase without a corresponding rise in income. Ownwell helps homeowners by identifying potential savings through property tax appeals and exemptions, ensuring they aren't overpaying. By leveraging local expertise, Ownwell can assist in reducing tax bills, providing financial relief to homeowners.

Property Tax Bills Across West Peoria, Peoria County, Illinois

Source: Ownwell

$41

$3,757

$7,472

Median West Peoria Tax Bill

$1,977

Median Peoria County Tax Bill

$2,655

Median Illinois Tax Bill

$5,277

Median United States Tax Bill

$2,400

Property Tax Bills Across West Peoria, Peoria County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61604	$774	$1,387	$1,977	$2,487	$3,138

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	June 1

Links
Peoria Tax Assessor
Website	propertytax.peoriacounty.gov