Illinois is home to nine housing markets out of the study’s 50 that are turning ugly. One of the biggest downsides to homeownership in Illinois is the state’s high property taxes. In some areas of Illinois, property tax rates rise above 3%. Peoria and Aurora are among the ten worst.
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.
In Peoria, the two year price change was negative 15.9% with 21% underwater mortgages and 1 in 932 homes in foreclosure.
In Aurora, the two year price change was positive 4.8% with 11.8% underwater mortgages and 1 in 1,491 mortgages in foreclosure.
Peoria is sending an annual Public Safety Pension Fee bill to property owners beginning October 2019, that is in addition to property taxes.
Aurora borders Naperville.