From January through March of 2017, there were two homes sold, with a median sale price of $47,500 - a 43.8% decrease over the $84,500 median sale price for the same period of the previous year. There were three homes sold in Rio in the first quarter of 2016.
The median sales tax in Rio for 2017 was $1,704.08. In 2016, the median sales tax was $1,944.70. This marks an decrease of 12.4%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 3.6%.
The following table compares Rio to other Knox County cities with similar median sales prices in the first quarter of 2017:
| City | Jan. - Mar. 2017 Home Sales | Jan. - Mar. 2016 Home Sales | % change (Total Home Sales) | Jan. - Mar. 2017 Median Sales Price | Jan. - Mar. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Williamsfield | 4 | 2 | 100% | $107,500 | $69,000 | 55.8% |
| Knoxville | 8 | 9 | -11.1% | $91,500 | $74,000 | 23.6% |
| Yates City | 6 | 5 | 20% | $71,250 | $50,000 | 42.5% |
| Altona | 2 | 3 | -33.3% | $69,250 | $80,000 | -13.4% |
| Galesburg | 94 | 113 | -16.8% | $66,250 | $57,000 | 16.2% |
| Gilson | 4 | 1 | 300% | $55,750 | $148,500 | -62.5% |
| Rio | 2 | 3 | -33.3% | $47,500 | $84,500 | -43.8% |
| Henderson | 2 | 0 | - | $35,000 | $0 | - |
| Abingdon | 11 | 9 | 22.2% | $30,000 | $49,000 | -38.8% |
| Maquon | 1 | 5 | -80% | $30,000 | $43,500 | -31% |
| Wataga | 1 | 3 | -66.7% | $25,500 | $74,000 | -65.5% |
Alerts Sign-up