From January through December of 2017, there were 36 homes sold, with a median sale price of $162,000 - a 63.4% increase over the $99,125 median sale price for the previous year. There were 34 homes sold in Palmyra in 2016.
The median sales tax in Palmyra for 2017 was $3,700. In 2016, the median sales tax was $3,539. This marks an increase of 4.5%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.3%.
The following table compares Palmyra to other Lee County cities with similar median sales prices in 2017:
| City | Jan. - Dec. 2017 Home Sales | Jan. - Dec. 2016 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2017 Median Sales Price | Jan. - Dec. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Steward | 8 | 9 | -11.1% | $187,250 | $56,500 | 231.4% |
| Palmyra | 36 | 34 | 5.9% | $162,000 | $99,125 | 63.4% |
| West Brooklyn | 6 | 5 | 20% | $106,900 | $73,500 | 45.4% |
| Paw Paw | 24 | 15 | 60% | $92,750 | $50,000 | 85.5% |
| Sublette | 4 | 8 | -50% | $90,000 | $55,000 | 63.6% |
| Ashton | 18 | 18 | 0% | $85,500 | $42,250 | 102.4% |
| Amboy | 47 | 46 | 2.2% | $80,000 | $37,750 | 111.9% |
| Dixon | 292 | 251 | 16.3% | $79,500 | $42,500 | 87.1% |
| Franklin Grove | 25 | 17 | 47.1% | $68,000 | $39,000 | 74.4% |
| Harmon | 4 | 3 | 33.3% | $64,500 | $45,000 | 43.3% |
| Lee | 4 | 10 | -60% | $61,500 | $65,500 | -6.1% |
Alerts Sign-up