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South West Illinois News

Monday, November 18, 2024

Randolph County effective property tax rate in Q3 2023 was higher than the national average

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Property owners in Randolph County paid 1.5% of the value of their homes in property taxes in the third quarter of 2023, which is more than 1.3 times the national average, according to the real estate analysis posted by SW Illinois News.

The median sales price of a Randolph County home in the third quarter of 2023 was $115,000, based on data from the 93 properties sold during that time. In 2023, the median tax bill for the county was $1,667, which is 1.5% of the median value of the homes that were taxed.

This is 1.3 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Randolph County real estate data showed homeowners in Sparta and Steeleville paid the highest rates.

The above article calculates the effective property tax rate for 2023 using estimated inflation values and 2020 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

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

CityQ3 2023 SalesQ3 2023 Median PriceMedian tax 2023Effective tax rate
Sparta19$69,000$1,5792.3%
Steeleville10$80,250$1,5722%
Percy4$54,750$9551.7%
Red Bud18$157,500$2,6981.7%
Chester14$106,500$1,5901.5%
Coulterville6$86,500$9411.1%

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