Quantcast

NW Illinois News

Monday, November 25, 2024

Effective property tax rate in Lee County outpaced the national average in Q4 2023

Re 6

Property owners in Lee County paid 2% of the value of their homes in property taxes in the fourth quarter of 2023, which is more than 1.8 times the national average, according to the real estate analysis posted by NW Illinois News.

The median sales price of a Lee County home in the fourth quarter of 2023 was $135,000, based on data from the 61 properties sold during that time. In 2023, the median tax bill for the county was $2,757, 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 West Brooklyn, Palmyra, and Dixon paid the highest rates.

The above article calculates the effective property tax rate for 2023 using estimated inflation values and 2021 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares West Brooklyn 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 2023.

CityQ4 2023 SalesQ4 2023 Median PriceMedian tax 2023Effective tax rate
West Brooklyn2$106,750$3,3373.1%
Palmyra2$176,000$4,4352.5%
Dixon48$126,250$2,5812%
Ashton3$150,000$2,6301.8%
Amboy2$269,450$2,6151%

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS