From April through June of 2017, there were 12 homes sold, with a median sale price of $66,000 - a 50.9% increase over the $43,750 median sale price for the same period of the previous year. There were five homes sold in Franklin Grove in the second quarter of 2016.
The median sales tax in Franklin Grove for 2017 was $1,949.42. In 2016, the median sales tax was $1,972.70. This marks an decrease of 1.2%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 3%.
The following table compares Franklin Grove to other Lee County cities with similar median sales prices in the second quarter of 2017:
| City | Apr. - June 2017 Home Sales | Apr. - June 2016 Home Sales | % change (Total Home Sales) | Apr. - June 2017 Median Sales Price | Apr. - June 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Palmyra | 9 | 9 | 0% | $162,000 | $72,500 | 123.4% |
| Amboy | 8 | 9 | -11.1% | $105,250 | $41,750 | 152.1% |
| Steward | 3 | 2 | 50% | $105,000 | $37,000 | 183.8% |
| Paw Paw | 5 | 5 | 0% | $98,000 | $26,000 | 276.9% |
| Dixon | 80 | 74 | 8.1% | $82,625 | $40,750 | 102.8% |
| Franklin Grove | 12 | 5 | 140% | $66,000 | $43,750 | 50.9% |
| Lee | 3 | 1 | 200% | $65,000 | $87,500 | -25.7% |
| Ashton | 5 | 3 | 66.7% | $61,000 | $60,000 | 1.7% |
| Nelson | 2 | 0 | - | $60,500 | $0 | - |
| Harmon | 1 | 0 | - | $39,000 | $0 | - |
| Nachusa | 3 | 1 | 200% | $37,900 | $43,000 | -11.9% |
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