That’s what a study from Moody Analytics found.
The reasoning is that higher carrying costs of homeowners is factored in when buyers look for homes.
Values of McHenry County homes are estimated to have decreased by 8.4% by the so-called SALT (State and Local Tax) provision, championed by former Congressman Peter Roskam.
But McHenry County residents were not the worst hit, as one can see from home data below:
Impact of SALT Deduction Cap on Home Values in Rank Order by County
5. Lake County – minus 9.9%
19. Kendall County – minus 8.7%
20. McHenry County – minus 8.4%
25. Will County – minus 7.5%
26. DuPage County – minius 7.4%