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Rockford Sun

Monday, December 23, 2024

Analysis: Winnebago County effective property tax rate outpaced the national average in Q1 2023

Realestate2

Property owners in Winnebago County paid 2.3% of the value of their homes in property taxes in the first quarter of 2023, which is more than 2.1 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 first quarter of 2023 was $127,000, based on data from the 691 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 2.1 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 Durand, Winnebago, and Lake Summerset paid the highest rates.

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

CityQ1 2023 SalesQ1 2023 Median PriceMedian tax 2023Effective tax rate
Durand4$60,000$3,2505.4%
Winnebago5$160,000$5,3233.3%
Lake Summerset5$160,000$4,7483%
South Beloit13$109,000$3,1592.9%
Rockford439$107,000$2,7932.6%
Cherry Valley25$181,000$4,6962.6%
Rockton30$203,500$5,0892.5%
Loves Park54$135,000$3,3502.5%
Harlem7$240,000$5,7942.4%
Machesney Park58$136,250$3,3262.4%
Roscoe34$242,500$5,8642.4%
Pecatonica6$214,500$4,5272.1%
Owen6$228,500$4,3221.9%
New Millford1$247,000$4,5721.9%

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