Posted on 08/21/2017 1:52:22 PM PDT by george76
Illinoisans already pay some of the highest, if not the highest, property taxes in the nation. An analysis of the past 15 years shows that property taxes are growing far faster than residents’ ability to pay for them.
Between 2000 and 2015, the total property taxes Illinois local governments collected doubled.
Household incomes in Illinois, in contrast, only grew 31 percent over that time period.
Because taxes have grown so much faster than income, the burden property taxes impose on Illinoisans has grown significantly.
In 2000, property taxes consumed 4.4 percent of household incomes. In 2015, property taxes consumed 6.7 percent of income – that’s up 55 percent from 15 years ago.
...
According to a 2017 WalletHub report, Illinoisans pay the nation’s 2nd-highest effective property tax rates, or the percentage of a home’s value its owners pay in property taxes, ranking just behind New Jersey.
Illinoisans pay almost $4,000, in property taxes each year, far more than what residents in neighboring states pay.
And unfortunately, Illinois’ high property taxes are not being spent effectively. They aren’t funding stellar services and efficient governments.
...
Property tax burdens are high across Illinois, but residents in Cook and the collar counties are stuck with the highest taxes and the biggest burdens.
Residents in Lake County face the largest property taxes in the state. In 2015, property taxes consumed 9.4 percent of the county’s median household income.
(Excerpt) Read more at illinoispolicy.org ...
to come and stay. And to use the school system, feed at the public trough, and use Chicago's emergency rooms as private doctors.
Chicago and Illinois must have lots of money for Rahm to be able to do that for any illegal who comes to Chicatgo... could this story be a lie?
/s
That's cheap compared to my utility bill here in CA.
So as people leave Illinois because they can’ afford the property takes, the government will be forced to raise them even higher to make up for the lost revenue! So as the number of citizens approaches zero, the property tax bills will approach infinity. I feel sorry for the few that will remain.
“Say what you want about California, they got Property Tax figured out. A public supported proposition (13) was passed which limits by how much property taxes can be raised each year.”
How right you are. We built a home in 1982 (for a few hundred thousand bucks), and have lived in it all these years. Due to the rapid growth of RE values, we would have been forced to sell when we retired ten years ago, but thanks to Prop 13, we can live out our days in the home we love. This past year, the house across the road sold for $2.2 million. Their taxes are about $23,000 per year, more than three times ours.
Dems budget into chaos.
Repubs that are elected in get the blame because they can’t always change contracts.
Then dems run on how awful repubs have made things.
People just have to wise up. Can’t be fiscally sound promising so much to govt workers. Especially pension wise.
This could be a great argument for privatizing schools.
Great argument. Especially from the pension angle.
I know it’s cheaper to tag a car in Illinois than it is in Kansas, based on the number of Kansas residents I see with Illinois tags on their vehicles.
I despise property taxes. If the money is needed, get it from another source. Free people are allowed to own property.
Hahaha. Maybe it is time for the aggrieved taxpayers to take a different approach?
I think the Illinois tax collectors are trying to beat New Jersey to be the highest in the country (Illinois now at 50th (lowest to highest) and New Jersey at 51st).
https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585/#real-estate
About the only tax there..that made any sense.
Gone now...for many years....
Questioned my county property assessment recently...and they reduced the burden..by $1700....
Pleasantly surprised.............
This saved many people from having to sell their homes.
Democrats have been trying to overturn ever since. They call taxes “fees” and tack them on everything and run up massive debt to pay for their pet projects.
Proposition 13
On June 6th, 1978, nearly two-thirds of California’s voters passed Proposition 13, reducing property taxes by about 57%.
https://www.hjta.org/propositions/proposition-13/
In my state of California I say you never can own real estate
the state always owns it
try not paying property taxes once
in another commie bureaucracy like Chicago town same deal you can get up to like 20-30 grand a year you miss one payment they take your million dollar house so you never own it The commies do Ok two payments if they’re nice
Nice real estate you got there. Is what they think
That’s nothing. Texas property tax goes up 10% every year. Has done this ever since I can remember. Compound that for the past twenty five years we’ve been paying. Not once has our income come close to matching the increase. In fact, with the rise in health insurance costs, our income has gone down for the past 10 years. Top that with 0 pay raise in 10 years from the state. What used to take 3 weeks of income is now taking 3 1/2 months. No thanks to the Legislature last week, they struck down a bill to lower property taxes. Monsters.
$4000. It’s been years since my Texas property tax has been that low.
A few years ago, exactly half the houses on our TX street were for sale because people can’t afford the taxes. Many have had to delay retirement.
Illinoisans pay almost $4,000, in property taxes each year, far more than what residents in neighboring states pay.
As a citizen of a neighboring state, let me say that all conservative Cardinal fans are welcome.
Hey, someone has to pay for Princess Rahm’s largess to the “needy refugees”.
Tell me about it. $950/month on bank appraised $440,000 house.$11,400/year.65% to freaking schools.
That makes two of us. “Education” sucks up the bulk of real estate taxes. Everyone should have a stake in the schools boondoggle via income taxes.. Not just the home owners. Lottery was supposed to take the heat off everyone but god knows where the criminals put that money.
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