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Updated 2025 Tax Year

Peoria County
Property Tax Guide

Everything you need to know about property taxes in Peoria County, IL. Rates, due dates, exemptions, and how it affects your monthly payment.

10 Official Sources
8 min read
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Quick Facts
Tax Rate
Varies by taxing districts, typically ranges 2.5-4.5% effective rate depending on location within county
1st Due
Jun 1
2nd Due
Sep 1
Exemptions
5+ Available
Section 1

How Property Tax Works

Peoria County, Illinois operates under a property tax system that funds essential local services including schools, municipal services, fire protection, libraries, and county operations. Property taxes are the primary revenue source for these local government services, with the Illinois Property Tax Extension Limitation Law (PTELL) providing some limitations on tax levy increases.

The effective property tax rate in Peoria County varies significantly by location within the county due to multiple overlapping taxing districts. All property except farmland and coal is assessed at 33.33% of fair market value as determined by the County Assessor. Property owners should note that their actual tax rate depends on their specific combination of taxing districts, which may include school districts, municipalities, townships, park districts, library districts, and other special service areas.

Property tax rates and special district combinations mean that two similar properties in different areas of Peoria County can have substantially different tax bills. The county provides detailed tax bill breakdowns showing each taxing body's contribution to the total tax liability.

Section 2

What Makes Up Your Tax Bill

ComponentRate RangeDescription
County General0.8% - 1.2%County operations, sheriff, courts, health services
School Districts6.0% - 8.5%Elementary and high school districts (varies by district)
Municipalities1.5% - 3.0%City/village services where applicable
Townships0.3% - 0.8%Township road maintenance and services
Library Districts0.2% - 0.6%Public library operations
Park Districts0.1% - 0.5%Recreation and park services where applicable
Fire Protection0.5% - 1.2%Fire and emergency services
Other Special Districts0.1% - 0.8%Airport, forest preserve, community college

Total Effective Rate: Approximately 2.27% - 4.5% of market value

Note: These rates apply to the 2024 tax levy year (payable in 2025). Rates vary significantly based on your property's specific taxing district combination. The Peoria County Treasurer provides detailed tax bill statements showing your exact rate breakdown.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Peoria County, property taxes are due in two installments:

First Installment
Jun 1
Delinquent after Dec 10
Second Installment
Sep 1
Delinquent after Apr 10
Pro tip: If you pay through mortgage escrow, your lender splits these payments across your monthly mortgage. If you pay directly, set calendar reminders to avoid late penalties.
Section 4

Supplemental Tax Bills

Supplemental property taxes in Peoria County are additional tax assessments that occur when there are changes to property ownership, improvements, or corrections to assessments during the tax year. The most common triggers include new construction completion, property splits or combinations, and ownership transfers that reveal unreported improvements.

When supplemental taxes are levied, they are calculated based on the difference between the original assessment and the new assessment, prorated for the portion of the tax year the change was in effect. For example, if a home addition is completed in March and adds $50,000 to the property's assessed value, the supplemental tax would be calculated on that $50,000 increase for the remaining months of the tax year.

Property owners receive a separate supplemental tax bill with specific due dates, typically 30 days from the bill date. These taxes are in addition to the regular property tax installments and must be paid separately. The Peoria County Assessor's office provides notice of assessment changes that may trigger supplemental taxes.

Example Calculation

Example 1: $300,000 Home with Homestead Exemption

  • Market Value: $300,000
  • Assessment Rate (33.33%): $100,000
  • Less Homestead Exemption: -$6,000
  • Net Taxable Assessment: $94,000
  • Tax Rate (estimated 2.8%): $2,632 annually
  • Monthly Payment: $219

Example 2: $600,000 Home with Senior Homestead Exemption

  • Market Value: $600,000
  • Assessment Rate (33.33%): $200,000
  • Less Senior Homestead Exemption: -$8,000
  • Net Taxable Assessment: $192,000
  • Tax Rate (estimated 3.2%): $6,144 annually
  • Monthly Payment: $512

Example 3: $1,000,000 Home with Standard Homestead

  • Market Value: $1,000,000
  • Assessment Rate (33.33%): $333,300
  • Less Homestead Exemption: -$6,000
  • Net Taxable Assessment: $327,300
  • Tax Rate (estimated 3.5%): $11,456 annually
  • Monthly Payment: $955

Note: All exemptions require annual application and approval. Tax rates vary by specific taxing district combination and are estimates for illustration purposes.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in Peoria County require property tax escrow accounts for borrowers with less than 20% down payment, though some lenders mandate escrow regardless of down payment amount. The lender collects monthly escrow payments along with principal and interest, depositing these funds into a separate account to pay property taxes when due.

Lenders typically pay property taxes on the June 10th and September 10th due dates directly to the Peoria County Treasurer. Property owners should verify that their lender has current tax bill information and correct payment amounts, as assessment changes or exemption approvals can affect the required escrow amount. The lender conducts an annual escrow analysis to adjust monthly payments based on actual tax costs.

If you pay property taxes directly (without escrow), you're responsible for the June 10th and September 10th payment deadlines for the current tax year. The Peoria County Treasurer accepts payments online, by mail, or in person, and provides confirmation of payment for your records.

How HonestCasa Helps
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Section 6

Frequently Asked Questions

Q: When are Peoria County property taxes due for 2025? A: Property taxes for the 2024 levy year are due June 10, 2025 (first installment) and September 10, 2025 (second installment). Final payment must be received by November 7, 2025 to avoid tax sale proceedings.

Q: What tax credits are available and do they require application? A: Multiple credits are available but ALL require annual application: Homestead Exemption ($6,000 reduction in EAV), Senior Homestead ($8,000 reduction), Senior Freeze (caps assessment increases for qualifying low-income seniors), Disabled Person Homestead, and Returning Veterans' Homestead. Applications must be filed with the County Assessor by specified deadlines.

Q: How does the Homestead Exemption work? A: The Homestead Exemption reduces your Equalized Assessed Value (EAV) by $6,000, not your market value. You must apply annually using form PTAX-340. This exemption does not cap assessment increases - it simply reduces the taxable assessment amount.

Q: When are properties reassessed in Peoria County? A: Peoria County conducts property reassessments on a four-year cycle as part of the Illinois quadrennial assessment system. Property owners receive notice of assessment changes and have appeal rights through the Board of Review.

Q: What are the penalties for late property tax payments? A: Interest charges begin accruing on unpaid taxes after the due dates. Properties with delinquent taxes may be subject to tax sale proceedings if final payment isn't received by November 7th.

Q: Can I pay property taxes online? A: Yes, the Peoria County Treasurer accepts online payments through their official website. Cash, personal checks, cashier's checks, and money orders are accepted for in-person or mail payments.

Q: Why do property tax rates vary within Peoria County? A: Tax rates differ based on your property's combination of taxing districts. Properties may be in different school districts, municipalities, fire protection districts, library districts, or other special service areas, each with their own tax rates.

Q: How do I apply for the Senior Freeze Exemption? A: The Senior Citizens Assessment Freeze requires annual application using form PTAX-340, available from the County Assessor. This exemption freezes your assessment at current levels if you meet age and income requirements, but you must reapply each year to maintain eligibility.

Verified Sources

Backed by 10 Official Government Sources

Every fact in this guide is sourced from official county, state, and federal documents.

01
County
Peoria County, Illinoispeoriacounty.gov
02
Tax Doc
Notice of Proposed Property Tax Increase for Pepeoriacounty.gov
03
County
2025 Peoria County Tentative Multiplier Announcedillinois.gov
04
State
Real Estate Tax Payment Optionspeoriacounty.gov
05
County
General Tax Information | Peoria County, ILpeoriacounty.gov
06
Tax Doc
When do I have to pay my property taxes?tax.illinois.gov
07
County
Forms & Documents | Peoria County, ILpeoriacounty.gov
08
County
Tax Relief / Exemptions | Peoria County, ILpeoriacounty.gov
09
County
Peoria County Supervisor of Assessments officepeoriacounty.gov
10
County
About Us | Peoria County, ILpeoriacounty.gov
All sources verified as of 2025 Tax Year

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