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East Central Reporter

Monday, November 25, 2024

Effective property tax rate in Coles County outpaced the national average in Q2 2022

Realestate5

Property owners in Coles County paid 1.9% of the value of their homes in property taxes in the second quarter of 2022, which is more than 1.7 times the national average, according to the real estate analysis posted by the East Central Reporter.

The median sales price of a Coles County home in the second quarter of 2022 was $95,000, based on data from the 262 properties sold during that time. In 2021 the median tax bill for the county was $1,804, which is 1.9% of the median value of the homes that were taxed.

This is 1.7 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Coles County real estate data showed homeowners in Oakland, Ashmore, and Mattoon paid the highest rates.

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

CityQ2 2022 SalesQ2 2022 Median PriceMedian tax 2022Effective tax rate
Oakland10$63,500$1,5692.5%
Ashmore5$69,000$1,5072.2%
Mattoon132$83,000$1,7682.1%
Charleston93$115,000$2,3382%
Humboldt7$104,000$1,7821.7%
Lerna6$136,000$1,9511.4%

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