"If they work in big pharma and they are based in the Chicago area, they may say, 'I'm going to work in the home office in Minneapolis where the taxes aren't so high,'" says Cohen.
The article mentioned that a home valued at $1.1M in Highland Park pays $34K in taxes. That’s a bargain. Here in Rockford that home would pay $53,509 at 1/3rd value with a tax rate of 14.8363%. There may be just a few homes with that value if any here but businesses and factories pay that because all tax rates are applied equally not like Chicago where tax rates can not be more than 2.5 times the lower rate.
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 article mentioned that a home valued at $1.1M in Highland Park pays $34K in taxes. That’s a bargain. Here in Rockford that home would pay $53,509 at 1/3rd value with a tax rate of 14.8363%. There may be just a few homes with that value if any here but businesses and factories pay that because all tax rates are applied equally not like Chicago where tax rates can not be more than 2.5 times the lower rate.