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NW Illinois News

Tuesday, April 30, 2024

Effective property tax rate in Lee County outpaced the national average in Q4 2022

Realestate077

Property owners in Lee County paid 2.3% the value of their homes in property taxes in the fourth quarter of 2022 which is more than 2.1 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 fourth quarter of 2022 was $104,750, based on data from the 98 properties sold during that time. In 2021 the median tax bill for the county was $2,419, which is 2.3% of the median value of the homes that were taxed.

This is 2.1 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 Ashton and Amboy paid the highest rates.

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

CityQ4 2022 SalesQ4 2022 Median PriceMedian tax 2022Effective tax rate
Ashton3$83,500$2,4683%
Amboy16$82,000$2,4543%
Paw Paw4$118,500$3,3092.8%
Sublette1$104,500$2,9062.8%
Dixon54$91,000$2,4222.7%
Lee2$151,500$3,2992.2%
West Brooklyn3$150,000$3,1322.1%
Palmyra11$215,000$4,1631.9%
Franklin Grove1$123,500$2,3681.9%
Steward2$240,000$3,6231.5%

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