Tazewell County Real Estate and Livability Trends
In Tazewell County, Illinois, rising property values and an increased average taxable income, up from $59,755.99 in 2013 to $77,237.14 in 2021, suggest a gradually improving local economy. Despite a spike in local income taxes and fluctuating residential energy tax credits, the median home value rose steadily to $159,100 in 2022, offering more affordable yet attractive options for buyers.... Read more
Tazewell County Market Trends
The median home values in Tazewell County, Illinois, have increased from $134,900 in 2015 to $159,100 in 2022, marking a steady but more gradual rise compared to national and state trends. This might indicate more affordable housing options that could attract budget-conscious buyers or investors. Residential energy tax credits have fluctuated significantly, with a spike to $4,133.33 in 2018 and... Read more
Median Value of Occupied Housing Units in Tazewell County, Illinois Over the Last 8 Years
The median home values in Tazewell County, Illinois have shown steady growth, rising from $134,900 in 2015 to $159,100 in 2022. This increase, while consistent, is more gradual compared to the national trend and significantly lower than the state's median values. For instance, the national median home value jumped from $125,500 in 2015 to $179,400 in 2022, while Illinois saw values escalate from $173,800 to $239,100 in the same period. This suggests that Tazewell County might offer more affordable housing options, potentially attracting those looking for investment opportunities or more budget-friendly living arrangements within Illinois.
Residential Energy Tax Credit Per Tax Return in Tazewell County, IL Over the Last 9 Years
Tazewell County, Illinois has seen notable fluctuations in its residential energy tax credit per tax return over the past nine years, with a massive spike to $4,133.33 in 2018 and a notable high of $1,570.33 in 2020. These variances may suggest an uneven adoption of energy-efficient home improvements or changes in available credits and incentives. For potential investors or real estate agents, this could point to a growing trend in green energy investments within the county, while for appraisers and insurance agents, these figures may influence property valuations and risk assessments.
Average Real Estate Taxes Per Tax Return in Tazewell County, IL Over the Last 10 Years
Over the past decade, Tazewell County, Illinois, has seen a notable increase in average real estate taxes per tax return, nearly doubling from $3,922.55 in 2012 to $6,583.79 in 2021. This steep rise may influence potential buyers and investors, making it crucial for appraisers and insurance agents to consider these trends when evaluating properties. Rapid growth in real estate taxes can be a red flag for some, though others might see it as a sign of increased property values and potential investment returns.
Percentage of Farm Returns in Tazewell County, IL Over the Last 10 Years
Over the past decade, the percentage of farm tax returns in Tazewell County, Illinois, has shown a slight decline from 1.51% in 2012 to roughly 1.38% in 2021. Farm tax returns are filed by residents engaged in agricultural activities and indicate the proportion of such returns relative to the total tax filings. This trend might suggest a gradual shift away from farming or a consolidation of farm operations. For those considering investment or property development in Tazewell County, it's crucial to recognize these subtle changes, as they may influence the local economy and real estate dynamics.
Number of Mortgages by Occupancy Type in Tazewell County, IL Over the Last 5 Years in Tazewell County
Mortgage data from Tazewell County, Illinois, shows a notable dominance of principal residence mortgages over investment and second homes from 2018 to 2022. The counts for principal residences have seen a peak in 2020 with 7,876 mortgages, stabilizing somewhat by 2022 at 5,209. Investment properties have seen a mild but consistent demand, ranging from high 200s to low 300s. Second residences hold a very small fraction, peaking at just 46 in 2021. The prevalent focus on principal residences could imply strong local demand for homeownership, signaling robust community investment potential. For investors and real estate agents, the steady interest in investment properties despite the dominant principal residence purchases might suggest a balanced market ripe for diversification. Changes in occupancy types are critical as they affect insurance risk assessments and property valuations; recognizing these trends can be pivotal for appraisers and insurance agents in calibrating their evaluations accurately.
Economic Outlook
In Tazewell County, Illinois, the average taxable income per tax return has steadily risen from $59,755.99 in 2013 to $77,237.14 in 2021, hinting at a stable economic environment likely attractive for businesses and potential residents. Average state and local income taxes here have shown volatility, nearly doubling from 2018 to 2021, reaching $11,560.23. Moreover, average total tax liability per tax return increased to $11,656.59 by 2021, possibly indicating rising local property values or... Read more
Average Taxable Income per Tax Return in Tazewell County, IL over the last 9 years
Over the past nine years, Tazewell County, Illinois, has seen a steady rise in the average taxable income per tax return, from $59,755.99 in 2013 to $77,237.14 in 2021. This upward trend suggests an economic growth, which could be of interest to investors and potential residents considering the area for new opportunities. The incremental increases hint at a stable economic environment, which may be appealing for businesses looking to establish a presence or expand operations in Tazewell County.
Average State and Local Income Taxes Per Tax Return in Tazewell County, IL Over the Last 10 Years
Over the past decade in Tazewell County, Illinois, average state and local income taxes per tax return have shown significant fluctuation. Starting around $5,729.65 in 2012, they experienced a dip in 2016 to $4,867.08 before nearly doubling by 2018. By 2021, the figure rose dramatically to $11,560.23. This volatility and sharp increase in recent years are crucial for potential investors and residents, indicating rising financial obligations and potentially reflecting broader economic shifts in the region.
Average Total Tax Liability Per Tax Return in Tazewell County, IL Over the Last 10 Years
Over the last decade, Tazewell County, Illinois has seen some variance in the average total tax liability per tax return. Generally, there was a significant dip to $9,277.88 in 2013, but by 2021, the liability had risen to $11,656.59. This upward trend could suggest increasing local property values or income levels, which may interest potential investors, developers, and those considering moving to the county. While such fluctuations are common, the recent rise might indicate the county’s growing economic activity or changing tax policies.
Cost of Living in Tazewell County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,130 | $1,404 | $2,544 | $1,533 | $1,633 |
| 1 adult 4 children | $1,130 | $1,146 | $1,958 | $1,533 | $1,657 |
| 2 adults 3 children | $1,130 | $1,147 | $2,200 | $1,533 | $1,342 |
| 1 adult 3 children | $1,130 | $936 | $1,615 | $1,533 | $1,387 |
| 2 adults 2 children | $870 | $939 | $1,857 | $1,384 | $1,115 |
| 1 adult 2 children | $870 | $701 | $1,272 | $1,384 | $1,072 |
| 2 adults 1 child | $870 | $742 | $1,514 | $897 | $1,026 |
| 1 adult 1 child | $870 | $479 | $928 | $897 | $848 |
| 2 adults | $686 | $596 | $1,170 | $0 | $773 |
| 1 adult | $620 | $325 | $585 | $0 | $590 |
Safety trends & Data
Tazewell County, Illinois, has seen rising property crime rates over the last three years, with larceny-theft spiking from just 1.0 instance in 2020 to 351.0 in 2022. Fraud cases nearly doubled from 53.0 in 2021 to 83.0 in 2022, and both vandalism and embezzlement saw significant increases. While burglary numbers fluctuated slightly before stabilizing, motor vehicle theft rates showed no clear trend. These crime trends could potentially affect property values and the desirability of specific... Read more
Property Crime Trends in Tazewell County, IL Over the Last 3 Years
Tazewell County, Illinois, has seen fluctuating property crime rates over the last three years. Notably, there has been an upward trend in larceny-theft, increasing from just 1.0 instance in 2020 to 351.0 in 2022, and fraud cases have almost doubled from 2021 to 2022, climbing from 53.0 to 83.0 incidents. Property owners and potential investors should be mindful of rising vandalism and embezzlement, both of which show a significant increase in 2022. Interestingly, burglary saw a slight rise before stabilizing, while motor vehicle theft rates fluctuated without a clear trend. For real estate agents, these crime trends could impact property values and the desirability of certain areas within the county.
Demographics
Tazewell County, Illinois sees a fairly balanced adult population between males and females. Educational attainment shows a significant number of high school graduates and those with some college education, highlighting the potential for a moderately skilled workforce. The age distribution is diverse, with notable proportions in both younger and older age brackets, which might affect local services and economic activity. The racial composition is predominantly White with a smaller... Read more
Race Distribution in Tazewell County, Illinois (2022)
Educational Attainment in Tazewell County, Illinois (2022)
Age Distribution in Tazewell County, Illinois
Citizen Population in Tazewell County, Illinois (2022)
Political Trends & Data
In Tazewell County, Illinois, Republicans likely took a commanding lead in the 2020 U.S. Presidential Election with about 62% of the vote, compared to around 36% for Democrats. Minor parties barely made a dent, hinting at a strong conservative inclination among local voters. This trend could play a role in shaping community policies and future election... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Tazewell County, Illinois, Republicans likely dominated the 2020 U.S. Presidential Election with approximately 62% of the vote, while Democrats captured around 36%. Minor parties such as the Libertarians and Greens made up a small fraction, indicating a potential preference for the two major parties among voters in this region. This suggests a strong conservative lean, which could influence local policy and electoral strategies.
61.57% of voters voted for the Republican party in the 2020 Presidential Election
35.94% of voters voted for the Democrat party in the 2020 Presidential Election
1.70% of voters voted for the Livertarian party in the 2020 Presidential Election
0.50% of voters voted for the Green party in the 2020 Presidential Election
0.29% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past nine years, Tazewell County, Illinois has experienced a slight decline in its student-to-teacher ratio, dropping from approximately 15 in 2014 to around 13.5 in 2023. This trend hints at improved education quality due to more individualized attention for students. Such changes can boost property values and make the area more attractive to families, which is crucial for real estate agents, investors, and education-focused... Read more
Student-to-teacher ratio in Tazewell County, Illinois over the last 9 years
Over the past nine years, Tazewell County, Illinois has seen a slight decline in its student-to-teacher ratio, dropping from approximately 15 in 2014 to around 13.5 in 2023. This trend suggests a potential improvement in the education environment, as smaller student-to-teacher ratios can result in more individualized attention for students. This is particularly notable given that the national average hovers around 14 students per teacher. Such changes can impact property values and attractiveness for families considering moving to the area, while also being a point of interest for real estate agents, investors, and education-focused stakeholders.
