I’m so glad I don’t own a home valued over 300k or so. High priced homes will take the first hit as the pool of available and willing buyers decreases and the competing high ticket homes on market increases. Buyers will surly consider their tax bill and look elsewhere. Whereas lower cost homes in good areas will hold their current value at minimum. The pool of buyers for those is increasing as people downsize, retire or are pushed out of their mcmansions by property taxes. Which are no longer deductible btw.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
I’m so glad I don’t own a home valued over 300k or so. High priced homes will take the first hit as the pool of available and willing buyers decreases and the competing high ticket homes on market increases. Buyers will surly consider their tax bill and look elsewhere. Whereas lower cost homes in good areas will hold their current value at minimum. The pool of buyers for those is increasing as people downsize, retire or are pushed out of their mcmansions by property taxes. Which are no longer deductible btw.