A third generation family business is now vacant after a change in how they are assessed for property taxes, they said, has ruined them. Their 2019 Cook County property tax bill skyrocketed to $183,000 from just under $25,000: an increase of 640%. In 2020 they got another bill for $151,000.
Isn’t that crazy that we have to fight a higher assessment so we can try to reduce our taxes but no one fights with the bank that we have too much money there. We have more equity with a higher assessment but that leads to more taxes. With these crazy high taxes we will never know the true value of our properties. In Rockford taxes were over 5% of total value for a few years now just over 4%. To me high taxes are a theft of equity which should be a crime.
Why is Palatine High School so mediocre? It’s test scores are barely above the state average. And the gap between my Lake County high school and Palatine has materially increased since I graduated in the late 70’s. Palatine back then was not all that indistinguishable from my high school. What happened? It can’t be teacher salaries. In private business, I do see gaps between performance and compensation levels, but without sustained performance compensation declines and the jobs simply go away.
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.
The question that should be asked by the owner and ABC is . Where is the money going to?
Remember the Palatine school district teachers signed a 10 year contract a while back with at least 40% in raises and very little if any increase in health insurance cost. They should be 4 or 5 years into that contract. Someone has to pay for that deal.
https://www.illinoispolicy.org/palatine-area-district-15s-new-10-year-contract-unprecedented/
https://www.chicagotribune.com/news/breaking/ct-palatine-teachers-contract-met-20160415-story.html
Yep my taxes on a 60,000 sq.ft. building have gone from $60,000.00 to $190,000.00. Cant wait to get out of this s… hole.
Why not try to get together with others in your situation and try to fight the assessment and taxes. Not easy to do but a group of taxpayers may have a better chance than just one. On the http://www.taxpayersunitedofamerica.com website a lot of people got together to fight the school raises. Search Berwyn
https://taxpayersunitedofamerica.org/tax-protest-meeting-berwyn/
Ha ha ha ha ha ha ha
I do fight the assessment. It was $240,000.00 got reduced to $190,000.00 and lawyers get 1/3rd of savings.
Isn’t that crazy that we have to fight a higher assessment so we can try to reduce our taxes but no one fights with the bank that we have too much money there. We have more equity with a higher assessment but that leads to more taxes. With these crazy high taxes we will never know the true value of our properties. In Rockford taxes were over 5% of total value for a few years now just over 4%. To me high taxes are a theft of equity which should be a crime.
assume you meant ‘sinkhole’. Because fecal matter is a growth medium, and nothing can grow in this salted earth of Illinois.
… and the Palatine school district raises you referred to don’t include step increases.
Why is Palatine High School so mediocre? It’s test scores are barely above the state average. And the gap between my Lake County high school and Palatine has materially increased since I graduated in the late 70’s. Palatine back then was not all that indistinguishable from my high school. What happened? It can’t be teacher salaries. In private business, I do see gaps between performance and compensation levels, but without sustained performance compensation declines and the jobs simply go away.