Analysis: Batavia home prices down 40 percent over past decade; Property tax rates rose to 3.96 percent

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Home prices took a dive throughout Batavia between 2007 and 2015, a BlockShopper analysis showed.

The median sale price in the area was $373,718 in 2007, but fell to $225,893 in 2015 -- a difference of 40 percent. At the same time, the median Effective Tax Rate (ETR) rose from 2.52 percent in 2007 to 3.96 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 Batavia, a $200,000 home would have a bill of $7,919 based on the area's median ETR. Parts of Batavia have an ETR between 3.09 and 8.55 percent.

The area's projected median sale price for 2023 is $135,536, at which time a homeowner will have paid an estimated $153,022 in property taxes on the home since 2007.

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.

The table below compares sale prices and property taxes within Batavia. To analyze the data more precisely, BlockShopper broke up suburbs into neighborhoods.

Neighborhood
2007 Sales
2007 Median Price
2007 Median Property Tax
2015 Sales
2015 Median Price
2015 Median Property Tax
North Aurora West
3
$554,559
$8,296 (1.50% ETR)
4
$112,656, down 80%
$9,636 (8.55% ETR)
Batavia Northeast
103
$616,656
$15,026 (2.44% ETR)
80
$468,291, down 24%
$14,464 (3.09% ETR)
Batavia's Woodland Hills
52
$277,193
$8,062 (2.91% ETR)
81
$177,139, down 36%
$8,747 (4.94% ETR)
Batavia Northwest
59
$231,567
$6,375 (2.75% ETR)
70
$164,686, down 29%
$7,385 (4.48% ETR)
Batavia Central
90
$239,530
$5,845 (2.44% ETR)
122
$131,492, down 45%
$6,086 (4.63% ETR)
Batavia West
86
$527,556
$12,465 (2.36% ETR)
113
$297,923, down 44%
$12,418 (4.17% ETR)
Batavia Southwest
112
$232,752
$6,386 (2.74% ETR)
135
$149,013, down 36%
$5,838 (3.92% ETR)
Batavia Southeast
77
$405,865
$10,323 (2.54% ETR)
76
$265,892, down 34%
$9,734 (3.66% ETR)

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