Previously, McHenry County Blog reported that over 15,000 property tax bills in McHenry County exceeded $10,000.
Wby is that of interest?
Because U.S. House Republicans, with Algonquin Township’s Congressman Peter Roskam on the tax writing committee,have proposed allowing deductions for real estate taxes…as long as the bill is not over $10,000.
So, up to 4,150 property owners in Algonquin Township will feel pain either immediately or as the tax hikers increase their bills.
There are 37,400+ parcels in Algonquin Township.
Do the division and that’s almost 12% of the township’s property owners.
Excluding the business properties, which I assume will continue to deduct their entire real estate tax bill, thousands of homeowners in Roskam’s part of McHenry County, would likely end up losers, if the House GOP proposal is enacted.