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Rockford Sun

Saturday, November 23, 2024

Winnebago County effective property tax rate in Q4 2022 was higher than the national average

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Property owners in Winnebago County paid 2.3% of the value of their homes in property taxes in the fourth quarter of 2022, which is more than 2 times the national average, according to the real estate analysis posted by the Rockford Sun.

The median sales price of a Winnebago County home in the fourth quarter of 2022 was $130,000, based on data from the 1,010 properties sold during that time. In 2019 the median tax bill for the county was $2,934, 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 Winnebago County real estate data showed homeowners in Winnebago, Machesney Park, and Pecatonica paid the highest rates.

The following table compares Winnebago with some other cities belonging to Winnebago County by their median effective property tax rate, calculated using sales and property tax data from the fourth quarter of 2022.

CityQ4 2022 SalesQ4 2022 Median PriceMedian tax 2022Effective tax rate
Winnebago20$192,500$5,0102.6%
Machesney Park82$125,000$3,1302.5%
Pecatonica10$169,000$4,2602.5%
Rockford653$110,500$2,6292.4%
Cherry Valley37$181,000$4,4192.4%
Loves Park66$129,500$3,1532.4%
Harlem12$235,000$5,4532.3%
Rockton26$207,500$4,7902.3%
Roscoe60$235,000$5,5202.3%
Lake Summerset7$200,000$4,4692.2%
Durand8$146,750$3,0592.1%
Owen7$225,000$4,0681.8%
South Beloit19$185,000$2,9731.6%

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