A new study gives Aurora homeowners and Chicago commercial landlords an extra reason to gripe about property taxes. Homes in Aurora are taxed at the highest effective rate among 53 U.S. cities included in the “50-State Property Tax Comparison Study,” an annual report published by the Lincoln Institute of Land Policy and the Minnesota Center for Fiscal Excellence. Commercial properties in Chicago, meanwhile, are taxed at the second-highest rate after Detroit.
Aurora has the high property taxes,because socialist politicians , who have been in power here, think that it is only fair.
susan
4 years ago
Woodstock IL property tax rates are now 3.5% of fair market value, down from recent 5% of fair market value. Imagine the effect on household conditions when median income households living in median value homes are required to pay over 9% of household income to property taxes? (All over America, families pay pay less than 4% of households income in property taxes). When 5% “extra” of household income is conscripted in taxes, what must that household give up? College savings for kids? Household pets? Certainly they must give up any local-economy discretionary spending. What value is this extra 5% of… Read more »
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.
Aurora has the high property taxes,because socialist politicians , who have been in power here, think that it is only fair.
Woodstock IL property tax rates are now 3.5% of fair market value, down from recent 5% of fair market value. Imagine the effect on household conditions when median income households living in median value homes are required to pay over 9% of household income to property taxes? (All over America, families pay pay less than 4% of households income in property taxes). When 5% “extra” of household income is conscripted in taxes, what must that household give up? College savings for kids? Household pets? Certainly they must give up any local-economy discretionary spending. What value is this extra 5% of… Read more »