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Monday, December 23, 2024

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

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Logan County Il Clerk And Recorder Theresa Moore (2023) | Logan County Illinois

Logan County Il Clerk And Recorder Theresa Moore (2023) | Logan County Illinois

Property owners in Logan County paid 2.3% of the value of their homes in property taxes in the second quarter of 2023, which is more than 2 times the national average, according to the real estate analysis posted by Sangamon Sun.

The median sales price of a Logan County home in the second quarter of 2023 was $100,000, based on data from the 139 properties sold during that time. In 2023, the median tax bill for the county was $2,261, which is 2.3% 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 Logan County real estate data showed homeowners in Middletown, Lincoln, and Elkhart paid the highest rates.

The above article calculates the effective property tax rate for 2023 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 Middletown with some other cities belonging to Logan 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
Middletown3$18,000$9525.3%
Lincoln81$95,000$2,2032.3%
Elkhart4$102,500$2,0012%
Latham2$101,500$1,4751.5%
Mount Pulaski8$147,450$2,0611.4%
Atlanta13$165,000$2,0971.3%

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