Here’s a comment from “resident” under this article about a family leaving Illinois:
I just bought property in South Carolina, lots of jobs, low property tax, leaving Illinois soon.
Here’s a comment from “resident” under this article about a family leaving Illinois:
I just bought property in South Carolina, lots of jobs, low property tax, leaving Illinois soon.
Lucky
You’ll be missed, but we understand.
Anyone who wants the ‘best’ for you, will be happy for you.
Please do a 3 month and 1 yr follow-up with Cal so Illinoians can see how we are doing in comparison.
Smart move.
I hope to be joining you and the tens of thousands
who have already abandoned the tax hellhole that Illinois
has become.
Why feed the Beast? Vote with your feet.
Pension hikes to underfunded pensions eventually cause tax hikes which cause people to leave.
Employers or the state diverting annual pension contributions, while pension funds were underfunded, to hike salaries (which hikes pensions which were already underfunded), cause tax hikes, which cause people to leave.
The pension sentence added to the Illinois State Constitution on December 15, 1970, has to be repealed in its entirety via constitutional amendment.
The worst is yet to come.
Politicians who repeatedly voted to hike pension benefits while the pension funds were underfunded from 1971 – current are self serving and not public servants.
Legislative pension benefit hikes while pension funds were underfunded is not public service….that is not a service to the public…it’s public risk and harm.
The hiked benefits have to be clawed back.
We have a very serious hiked pension problem and as yet taxpayers are not yet educated enough much less mobilized to solve the problem.
Using data from the Tax Foundation, Forbes ranked the total tax burden in each state.
The ranking includes income, property, and sales tax, as well as special taxes like real estate transfer taxes, personal property taxes on some vehicles, and special tax district fees.
The state with the highest burden, New York (No. 50), ranks dead last, while Wyoming, (No. 1) nabs the top slot.
http://www.forbes.com/pictures/emeg45efhjf/introduction/
Rank / State % Tax
No. 50: New York 12.60
No. 49: New Jersey 12.30
No. 48: Connecticut 11.90
No. 47: California 11.40
No. 46: Wisconsin 11.00
No. 45: Minnesota 10.70
No. 44: Maryland 10.60
No. 43: Rhode Island 10.50
No. 42: Vermont 10.50
No. 41: Pennsylvania 10.30
No. 40: Massachusetts 10.30
No. 39: Arkansas 10.30
No. 38: Illinois 10.20
No. 37: Maine 10.20
No. 36: Delaware 10.10
No. 35: Oregon 10.10
No. 34: North Carolina 9.80
No. 33: Ohio 9.70
No. 32: West Virginia 9.70
No. 31: Hawaii 9.60
No. 30: Michigan 9.60
No. 29: Indiana 9.50
No. 28: Kentucky 9.50
No. 27: Idaho 9.50
No. 26: Nebraska 9.40
No. 25: Kansas 9.40
No. 24: Washington 9.40
No. 24: Washington 9.40
No. 22: Iowa 9.30
No. 21: Virginia 9.20
No. 20: Florida 9.20
No. 19: Colorado 9.00
No. 18: Missouri 9.00
No. 17: Arizona 8.90
No. 16: Georgia 8.80
No. 15: North Dakota 8.80
No. 14: New Mexico 8.60
No. 13 Montana 8.60
No. 12: Oklahoma 8.50
No. 11: Mississippi 8.40
No. 10: Alabama 8.30
No. 9: South Carolina 8.30
No. 8: Nevada 8.10
No. 7: New Hampshire 8.00
No. 6: Tennessee 7.60
No. 5: Louisiana 7.60
No. 4: Texas 7.50
No. 3: South Dakota 7.10
No. 2: Alaska 7.00
No. 1: Wyoming 6.90
I apologize if the columns do not line up perfectly.
Illinois is said to be 10.2%
In Woodstock D200, our median Property Tax As A Percentage of Household Income ALONE is 14.3%
Property taxes in Illinois range from a high of $6,285 in Lake County to a low of $447 in Hardin County.
McHenry has the fourth highest rates.
As a consequence when you look at the entire State, the numbers as presented in the Forbes article will not appear to be accurate.
Cook County really lowers the impact of property taxes.
The numbers within McHenry County will be impacted by the impact of your Township, School District, Fire District, Library Board, municipality and any other unique taxing body that levies on your property.
http://www.tax-rates.org/illinois/property-tax
Here is an excerpt relative to local counties:
Rank Name 2015 Tax
1 Lake County $6,285
2 DuPage County $5,417
3 Kendall County $5,365
4 McHenry County $5,226
5 Kane County $5,112
6 Will County $4,921
7 DeKalb County $4,267
8 Cook County $3,681
10 Boone County $3,453
13 Winnebago Cty $3,056
15 Ogle County $2,877
If you do not want to go to the link, here is the verbiage:
The median property tax in Illinois is $3,507.00 per year for a home worth the median value of $202,200.00.
Counties in Illinois collect an average of 1.73% of a property’s assesed fair market value as property tax per year.
Illinois has one of the highest average property tax rates in the country, with only six states levying higher property taxes.
Illinois’s median income is $68,578 per year, so the median yearly property tax paid by Illinois residents amounts to approximately % of their yearly income.
Illinois is ranked 5th of the 50 states for property taxes as a percentage of median income.
The exact property tax levied depends on the county in Illinois the property is located in.
Lake County collects the highest property tax in Illinois, levying an average of $6,285.00 (2.19% of median home value) yearly in property taxes, while Hardin County has the lowest property tax in the state, collecting an average tax of $447.00 (0.71% of median home value) per year.
In Woodstock last year the property tax rate was 4.6% (13.8% of EAV).
Median household income in Woodstock $56,446.
median homevalue $182,600.
(Census QuickFacts).
(.046($182600-$18000))/$56446=.1341
That is, property tax as a percentage of hh income is 13.4%.
Using your formula, I get 35.4%!
No wonder I can’t afford anything.
Cindy yes, it is truly horrible that those empowered to impose tax liability are ndifferent to the effect they have on most tax payers.
I believe that the tax takers are surrounded by those who benefit from proceeds of their specific tax collection and isolated from those who do not.
In that case, the tax takers can rationalize the righteousness of the amount of their levy.
Smart move- my wife and I sold our house in March and left taking our income with us to the southeast.
Let the “undocumented” and public employees make up the lost income in taxes.
Get out while you can.
If local police and fire pensions were not in most cases drascally underfunded property taxes would be higher or services lower.
And / or salaries and / or current benefits would be lower.
One point, which has been brought before, but we need to hammer this home over and over again in response to the hi-tax apologists and numbers players who continue to use skew statistics to support their point.
I’m good friends with several teachers, a City of Crystal Lake employee, a LITH police officer and many trade union members.
Granted the trade guys are not a direct part of the fiscal issues, but they do play an indirect roll – someone else can expand on that.
My point finally, is that every one of these individuals and their immediate families are planning on relocating to a lower tax/expense state when they retire.
Many are going to FL, some to TX, others are still searching (you can go down state and stay in IL to save thousands per year on property taxes).
They’ve all enjoyed inflated salaries and earned pensions based on those inflated salaries but they’re high-tailing it out of the area as soon as they can; can’t say I blame them at all.
One problem here, Evert.
To effectively compare “tax rates” between states, you need to also include unfunded pension liabilities, state and local debt because they will eventually need to pay those off with tax increases.
If Illinois was current and be debt free with that tax rate, it would be OK.
They’re not.
Eventually taxpayers in Illinois (only about half of wage earners actually pay income tax there in Illinois)
One of the reasons that taxpayers are leaving is that they’re smart enough to know that corrupt Illinois government will not change its ways and the government patronage, entitlement, and crony capitalist community that runs Illinois will put the full burden on the few remaining taxpayers and businesses.
That’s why I left Illinois two years ago for Arizona and why I’ve been selling all my Illinois real estate before the fiscal monsoon hits….
I don’t regard America as my country any longer.
Illinois was lost long ago.