For fiscal year 2025, Carthage reported a median commercial property tax rate of 4.3%, placing it at the highest in Hancock County, according to BlockShopper.com.
The county’s median rate reached 3.3% in fiscal year 2025, with Carthage surpassing that by 1 percentage point.
Across Hancock County’s two cities, rates ranged from 2.1% in Nauvoo to 4.3% in Carthage.
Carthage registered a 3% median commercial property tax rate in fiscal year 2024, ranking second among the county’s cities.
Commercial property tax rates averaged 1.76% across 53 large U.S. cities during 2024, according to research from the Lincoln Institute of Land Policy. The report calculates that a $1 million property with $200,000 in fixtures would pay approximately $21,060 in annual taxes. Rates showed significant variation, with some cities well below 1% and others up to 4%.
Many states use classification systems that produce higher effective tax rates for commercial, industrial, and apartment real estate compared with residential properties. Some localities levy business taxes several times the residential rate. For instance, Charleston imposes a tax rate roughly six times greater.
| Rank | City | Tax Rate % |
|---|---|---|
| 1 | Carthage | 4.3% |
| 2 | Nauvoo | 2.1% |
| Rank | Address | Tax Rate % |
|---|---|---|
| 1 | 105 Adams St. | 4.9% |
| 2 | 616 Main St. | 4.3% |
| 3 | 106 Buchanan St. | 3.3% |
Note: Some property addresses may not appear or may be incomplete due to gaps in county assessor records.
This article is based on data from BlockShopper.com. The underlying source information is available here.