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Saturday, January 4, 2025

Effective property tax rate in Lee County outpaced the national average in Q3 2022

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Property owners in Lee County paid 2% of the value of their homes in property taxes in the third quarter of 2022, which is more than 1.8 times the national average, according to the real estate analysis posted by the NW Illinois News.

The median sales price of a Lee County home in the third quarter of 2022 was $120,000, based on data from the 103 properties sold during that time. In 2021 the median tax bill for the county was $2,419, which is 2% of the median value of the homes that were taxed.

This is 1.8 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Lee County real estate data showed homeowners in Dixon and Palmyra paid the highest rates.

The following table compares Dixon with some other cities belonging to Lee County by their median effective property tax rate, calculated using sales and property tax data from the third quarter of 2022.

CityQ3 2022 SalesQ3 2022 Median PriceMedian tax 2022Effective tax rate
Dixon60$105,500$2,4222.3%
Palmyra5$185,000$4,1632.3%
Ashton6$112,500$2,4682.2%
Harmon1$115,000$2,4832.2%
West Brooklyn2$156,000$3,1322%
Sublette2$145,000$2,9062%
Amboy10$130,000$2,4541.9%
Franklin Grove7$125,000$2,3681.9%
Lee1$172,500$3,2991.9%
Steward1$225,000$3,6231.6%
Paw Paw5$228,000$3,3091.5%
Compton1$338,000$1,9470.6%

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