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South West Illinois News

Saturday, November 16, 2024

Analysis: Randolph County effective property tax rates outpaced the national average in Q4 2023

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Property owners in Randolph County paid 1.6% of the value of their homes in property taxes in the fourth quarter of 2023, which is more than 1.5 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 fourth quarter of 2023 was $102,500, based on data from the 58 properties sold during that time. In 2023, the median tax bill for the county was $1,667, which is 1.6% of the median value of the homes that were taxed.

This is 1.5 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 Red Bud, Chester, and Coulterville 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 Red Bud with some other cities belonging to Randolph County by their median effective property tax rate, calculated using sales and property tax data from the fourth quarter of 2023.

CityQ4 2023 SalesQ4 2023 Median PriceMedian tax 2023Effective tax rate
Red Bud11$115,000$2,6982.3%
Chester16$80,625$1,5902%
Coulterville2$52,000$9411.8%
Steeleville10$95,000$1,5721.7%
Evansville2$102,500$1,4381.4%
Sparta3$134,000$1,5791.2%

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