Posted on 12/22/2015 1:07:05 PM PST by george76
Property taxes are the single largest tax in Illinois, burdening residents far more than either income or sales taxes.
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what is not as well known is that property taxes are outpacing residents ability to pay for them. Over the past 50 years, whether measured in comparison to household income, economic growth, population or inflation, all classes of property taxes - residential, commercial, industrial, etc. - have placed an increasingly unaffordable burden on Illinoisans. Since 1963, Illinois property taxes have grown 2.5 times faster than inflation and 14 times faster than the state's population.
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This long history of growth has resulted in an average effective property-tax rate of 2.32 percent in Illinois - the second highest in the nation, behind only New Jersey.2 And with the Chicago City Council's passing a record property-tax hike on Oct. 28, Illinois will be in competition for the highest property taxes in the country.
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Although all property owners (residential, commercial, industrial, etc.) are paying more in property taxes now than they were 20 years ago, even after adjusting for inflation, the overall tax burden has increasingly fallen more heavily on residential property owners. Twenty years ago, residential taxpayers paid 52 percent of all property taxes. Today, they pay over 64 percent.
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the biggest driver of property-tax growth throughout Illinois has been property taxes that fund schools, which constituted 63 percent of all property taxes in 2013.
(Excerpt) Read more at illinoispolicy.org ...
Somebody has to pay for the welfare.
...and someone has to pay for the rope ...
https://www.youtube.com/watch?v=ZHaSbR1f_Es
Welfare states always have high taxes, take NY for example.
Well, what are they gonna do about it?
Here in VA we pay (after Fed) State Income Tax, Property Tax, Personal Property Tax, Fed & State Gas Tax, Sales Tax, yearly auto registration and those who live in city limits have city tax as well.
Not in IL, but mind went up more than 10%. I am being robbed by the liberals who control the schools.
Below is a re-post of something I posted on FR a while back...
I found a cheap little home in Carbondale Il just the other day.
It was a 3 bdrm with a small bungalow behind the main house.
..just 42,000 and the place was well maintained.
Looked up the tax info on the county website and it said 0.00
Turns out it was owned by something called the Southern Illinois Homeless Alliance.
They said it would have to be re-assessed once it was sold by the non-profit group.
The tax rate is 10.25% per year on the assessed value.
The tax could end up being close to 5,000/yr ..on a dinky little home like this!?!?
I said to the Realtor “I thought maybe I could rent the bungalow to pay the taxes...but I’d have to live in the tiny bungalow and rent the house instead!”
I liked the place because it’s on a quiet street and within waking distance of a WalMart Supercenter (I have small dreams..lol)
This is madness! Taxation has turned this nice little home into a money sucking nightmare.
https://www.instantstreetview.com/@37.726004,-89.198314,-136.1h,-5.48p,2z
Illinois: We’re the new Detroit!
“The tax could end up being close to 5,000/yr ..on a dinky little home like this!?!?”
This is by far, the highest property tax I ever heard of.
The reason they are focusing on proprty taxes is because you can’t pick up the property and move it to a lower tax area. They feel you are trapped. However, Illinois can and will destroy any and all value in the real estate until the owners simply walk away. Just like Detroit.
Ha!
You gotta keep those stupid factories (public schools) fully funded..
Great gig (government worker teachers) - retire when you’re 51. Tax payers are on the hook for you for the rest of their lives.
TAX AND SPEND - THE MANTRA OF OUR GOVERNMENT AT ALL LEVELS.
No kidding. My property taxes in good old leftwing Utopia California are ridiculous.
The thing that p*sses me off the most is as I get older they will eventually drive me out of my house.
Property taxes for those who own their homes should be outlawed.
Its what bankruptcy feels like. Don’t worry - the government always takes its people down with it when it sinks.
this is EXACTLY why we need a non-fiat currency without a central planning authority and politicians (ie. the Federal Reserve) trying to manipulate it
Under our present monetary system, there are NO checks no government power, or politicians’ promises, because government can effectively can borrow all the money it wants, in printed, unbacked dollars.
As this government rolls out the red carpet for Muslim terrorist and millions of illegals, they'll need to tax the people more and more to build more government schools.
It's a terrible vicious circle of corruption.
Isn’t there an exemption amount, before the tax kicks in, in IL? Like, if the house value is $42,000, then it is taxed on $12,000 or along that line? I thought I remembered something about an exempt amount.
Government and their co-conspirators running these insurance companie$ have created a massive industry of seizing the assets and homes of Americans.
No joke.
Kids are really talented when it comes to computer technology.
We really need to make a national effort to go to virtual schooling after the fourth or fifth grade, cutting property taxes in half. Parents who work could place their offspring in a learning center with child minders at their expense.
At the college level, course work should almost be entirely online. Nursing, education, surgery and trial law would require some physical schooling. Art history could easily be taught 100% on-line.
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