Wirepoints’ Mark Glennon on AM560’s Morning Answer: Illinois Budget’s New Taxes Face Serious Constitutional Challenges
June 12, 2026
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Audio and summary linked here.
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A mess of uncertainty and litigation is sure to follow.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
Wonder why these homes became vacant in the first place. Maybe extremely high property taxes have something to do with it. You can renegotiate the mortgage with these historic low rates if needed but renegotiating property taxes is off the table. Protesting assessment may help a little and the more that win also raises the tax rate.
They’re called Zombie Properties. The simplified history is that between about 2000 and 2008, Harvey had quite the real estate boom. Many barely qualified buyers, along with many unqualified buyers, and quite a few fraudulent buyers, bid up the value of Harvey properties to dizzying heights. The 2008 crash caused prices to decline everywhere. However, home values in Harvey (and elsewhere in lower income communities) were most based on 0 down, or low down payment, and even no documentation loans. So when the first wave of foreclosure happened, a good number of owners with negative equity made the rational decision… Read more »