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East Central Reporter

Friday, November 15, 2024

Coles County effective property tax rate in Q1 was higher than the national average

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Coles County Clerk And Recorder Julie Coe (2023) | Coles County Illinois

Coles County Clerk And Recorder Julie Coe (2023) | Coles County Illinois

Property owners in Coles County paid 2.1% of the value of their homes in property taxes in the first quarter of 2024, which is more than 1.8 times the national average, according to the real estate analysis posted by East Central Reporter.

The median sales price of a Coles County home in the first quarter of 2024 was $104,000, based on data from the 152 properties sold during that time. In 2024, the median tax bill for the county was $2,129, which is 2.1% of the median value of the homes that were taxed.

This is 1.8 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 Lerna, Oakland, and Mattoon paid the highest rates.

The above article calculates the effective property tax rate for 2024 using estimated inflation values and 2021 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Lerna with some other cities belonging to Coles County by their median effective property tax rate, calculated using sales and property tax data from the first quarter of 2024.

CityQ1 2024 SalesQ1 2024 Median PriceMedian tax 2024Effective tax rate
Lerna4$8,500$2,15225.3%
Oakland3$65,000$1,7312.7%
Mattoon83$97,000$1,9502%
Charleston53$133,900$2,5791.9%
Ashmore5$127,000$1,6611.3%

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