Dupage Policy Journal

Dupage Policy Journal

Wednesday, January 22, 2020

Analysis: Lisle home prices up 31 percent over past decade; Property tax rates fell to 3.86 percent

Real Estate

By Local Labs News Service | Sep 20, 2017

Throughout Lisle, home prices took a rose between 2011 and 2015, a BlockShopper analysis showed.

The area's median sale price was $130,808 in 2011, but climbed to $189,030 in 2015 -- a difference of 31 percent. At the same time, the median Effective Tax Rate (ETR) fell from 5.40 percent in 2011 to 3.86 percent in 2015.

A home's ETR is its property tax bill divided by its marked value. A $200,000 home with a $3,000 property tax bill would have an ETR of 1.5 percent.

The median ETR in Illinois is 2.3 percent, according to a 2007 WalletHub analysis of U.S. Census data. In Indiana, it's 0.87 percent.

The average $200,000 home in Illinois has a property tax bill of $4,600, versus $1,740 in Indiana.

In Lisle, a $200,000 home would have a bill of $7,719 based on the area's median ETR. Parts of Lisle have an ETR between 1.79 and 5.63 percent.

The projected median sale price in the area for 2019 is $130,430, at which time a homeowner will have paid an estimated $71,014 in property taxes on the home since 2011.

The Blockshopper analysis uses real home values, adjusting historical sales prices for inflation. The U.S. inflation rate from 2007 to 2015 was 14.3 percent, meaning a home had to appreciate by more than that to actually increase in value.

Below is a table comparing sale prices and property taxes within Lisle. To analyze the data more precisely, BlockShopper broke up suburbs into neighborhoods.

Neighborhood
2011 Sales
2011 Median Price
2011 Median Property Tax
2015 Sales
2015 Median Price
2015 Median Property Tax
Hinsdale West
72
$220,308
$8,176 (3.71% ETR)
101
$226,748, up 3%
$6,695 (2.95% ETR)
Lisle North
164
$52,725
$6,186 (11.73% ETR)
137
$181,186, up 71%
$7,918 (4.37% ETR)
Naperville Country Club
18
$215,605
$9,147 (4.24% ETR)
15
$315,557, up 32%
$10,776 (3.41% ETR)
Lisle East
58
$138,560
$5,883 (4.25% ETR)
97
$126,753, down 9%
$5,447 (4.30% ETR)
Lisle West
59
$165,929
$7,625 (4.60% ETR)
70
$183,958, up 10%
$7,523 (4.09% ETR)
Lisle South/Seven Bridges
139
$143,846
$7,365 (5.12% ETR)
174
$196,972, up 27%
$7,529 (3.82% ETR)
East of Lake Dr
12
$205,237
$7,995 (3.90% ETR)
16
$165,379, down 19%
$9,314 (5.63% ETR)

Want to get notified whenever we write about any of these organizations ?

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

Organizations in this Story

Naperville Country ClubCook County Recorder

More News