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 ...
Not surprised at all.
Guess what? That is what happens when you vote democrat.
You are absolutely right. Private ownership of land, fundamental to the founding of this country, is illegal now.
Were these property taxes in Illinois approved by the voters?
Were the voters property owners with “skin in the game”?
Yes there is some kind of exemption but I looked up the tax paid on similar homes and some were near 3k ... way too much for a 42k home :-(
"We shall remove the great cause of unnatural inequality in the distribution of wealth and power. We shall abolish poverty; tame the ruthless passions of greed; and dry up the springs of vice and misery. We shall light the lamp of knowledge in dark places; give new vigor to invention and a fresh impulse to discovery; substitute political strength for political weakness; and make tyranny and anarchy impossible."
Even in 1879 there were idiots writing tedious, delusional manifestos like this.
If only he had lived to see the democrat-run urban hellholes, byproducts of the Great Society and of idiotic, envy-filled screeds like his....
Your story is exactly what is killing NJ; who buys a home with taxes starting over $10K? At this point only government employees and immigrants who convert one-family homes into three-family homes or boardinghouses.
CA has the same problem NJ has (in terms of caps); they let you stay in the home, but everything else falls apart because the government workers still get their raises (by diverting funds from everything else). Eventually old established neighborhoods become rundown because nobody wants to buy there (because THEY can be taxed at a much higher rate); they move further out and start the process over again. The gubmint payroll grows there, and the same process is repeated.
I definitely prefer the caps (because they force low-information people to look at where their money is being spent), but without drastic shrinkage of the government workforce you face deteriorating streets and such.
He's important. There are actual cults of Georgian economists within the bureaucrat class. Yet what is interesting about George is that he destroys Malthus! So there was a real contribution within his otherwise statist mentality. So he was not so much an idiot as just another a power-mad dreamer whose ends justified whatever means.
Absolutely, no question. True ownership of homes and land in the U.S. does not exist. Everyone rents from government.
This ranks in the top 10 of epic con-jobs.
In fact they'll kill you if you fail to comply to pay government to stay in your own home. It's happened to lots of folks.
Illinois voters are certifiable idiots who keep electing and reelecting political criminals. Enjoy the harvest for years to comes.
Literally.
Harrisburg keeps increasing the cap so even more money gets taken from the homeowner at 100% assessment and of course they never reassess when home values drop only when they rise.
Yes, rinse & repeat.
Come to Long Island. I live in a 4BR/2B Cape Cod, on 1/3 acre. Our current property (school) taxes are now pushing $15K/year.
(And I wouldn’t — and didn’t — send my kids to the public schools, either. Catholic school and home schooling for them.)
It’s highway robbery.
Good Lord, I can’t wait to get the hell out of here...
Regards,
“Come to Long Island. I live in a 4BR/2B Cape Cod, on 1/3 acre. Our current property (school) taxes are now pushing $15K/year.”
Ditto... Small Colonial 4br/2b - 1/4 acre; $15k in property taxes... Rockville Centre.
I feel like I’m renting my house from the gov’t/teachers union!
I know someone in East Bay who has a 2 B, 1ba stucco bungalow built in the 30's. Their tax (per year) is 16k. How can people afford that?
And you probably don't get trash pick up or water with that. LOL
LOL Actually, we do. But those costs are minor compared to the school portion of the tax bill. About 70% of the bill goes to the schools.
Regards,
PS: The garbage pickup is handled by private companies, and their rates are negotiated by the town. There are no municipal employees picking up garbage. The private companies can (and have been) fired and replaced if necessary. The water come to us through the town.
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