The average person leaving Illinois makes $92K, while those moving into the state make $71K – Wirepoints on the Scott Slocum Show on WJOL

Wirepoints President Ted Dabrowski joins Scott Slocum on WJOL to talk about the recent census data.

See the analysis of Illinois here: New IRS migration data: Illinois third-biggest loser of people, biggest loser of incomes, to other states in 2019

See the analysis of the nation here: New IRS data reveals which states won and lost the competition for people and their wealth in 2019

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NoHope4Illinois
2 years ago

Averages are great, but they don’t exist in reality.

Just a few years ago it was estimated Illinois had +500k illegal aliens residing in the state, welcomed in to the sanctuary. They came only with open hands. It’s worse than the data suggests.

Last edited 2 years ago by NoHope4Illinois
Don't Care
2 years ago

Everything is great in Illinois. No one wanted those rich people there anyway….

Susan
2 years ago

One objective reason this downtrend of private sector household income matters: A robust residential real estate market requires a large pool of potential buyers. Potential home buyers typically need to qualify for a mortgage loan. To qualify for a mortgage loan, monthly payments must not exceed a certain percentage of gross household income. The formula is: mortgage obligation payments (which include property tax escrow) divided by gross income must not exceed the required ratio. As household incomes decrease, and property taxes inexorably rise to pay old and new public-benefit-entitlements, the ratio pressures home values lower…because home prices are the only… Read more »

Willowglen
2 years ago
Reply to  Susan

Bravo Susan. Is there data in Illinois which in any way shows that when home values decrease property taxes go down? My impression is they don’t decrease, and may even rise.

Susan
2 years ago
Reply to  Willowglen

The measure of property-tax-relative-to-property-value is the property tax rate.
Property tax rates represent the ratio of public
spending to the means of the taxed community.

A comparison of property tax rates throughout the nation is a good way to see whether the taxing bodies are spending beyond the means of their community and by how much.

One place to find historical (10 years) data on tax rates in any given taxing district is in the back section of official statements of muni bonds issued by taxing bodies.
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WIREPOINTS ORIGINAL STORIES

A statewide concern: Illinois’ population decline outpaces neighboring states – Wirepoints on ABC20 Champaign

“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”

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