Illinois Is Now Number 1 in Property Tax Burden

That’s what Forbes is reporting.

Highest property tax rates

States with the highest effective property tax rates were Illinois (2.22%), New Jersey (2.19%), Texas (2.11%), Vermont (2.11%), and Connecticut (2.04%). Rounding out the top 10 were New Hampshire (1.93%), New York (1.87%), Pennsylvania (1.75%), Ohio (1.68%) and Nebraska (1.57%).

You’ll remember, perhaps, that the effective tax rate is your real estate tax bill decided by the value of your home.

For instance, Zillow says our home in Lakewood is worth $342,256.

Last year our tax bill was $10,083.26.

The calculations indicate our effective tax rate is just under 3% (2.95%).

You’ll note the statewide figure Forbes uses is much lower.

That’s because homes in Cook County are assessed at about two-thirds of where ours in McHenry County are pegged.

The Civic Federation calculated Chicago’s 2017 effective tax rate at 1.74%

Civic Federation 2017 effective tax rates.

Other communities effective tax rates are given as well.


Comments

Illinois Is Now Number 1 in Property Tax Burden — 23 Comments

  1. JB Pritzker will be looking to increase taxes on everything.

    You will see more tail lights leaving dysfunctional Illinois as the ruling party in Illinois will never ever cut spending or reform anything.

    Reminds me of a China saying

    Rotsa Ruck

  2. Ok, so I only pay $1361.65 per year.

    But this is an honor the State of Texas and City of Dallas only bestow upon significant and beloved resident drunks, with all rights and privileges there unto pertaining.

  3. Thanks for the concern, OldMaBarker, but I’m good.

    Also, that poll doesn’t show what the article claims it does, but, alas, that’s no surprise.

  4. DJ – I pay more than that a quarter for a modest 3 Bdrm home.

    But then again I get to have that warm fuzzy feeling knowing I get support more public sector employees, union teachers and politicians in the lifestyle that they have become accustomed.

  5. Bama, it doesn’t matter it’s on the internet so it must be true.

    Liberals do that all the time, including you.

  6. Here’s a thought learned from the current state of affairs = Cov19.

    Most if not all schools went to some level of computer learning using a variety of platforms, Zoom and Facebook come to mind.

    No doubt students, parents and school admins learned that it’s plausible to use these platforms to be taught and to teach 1000’s of students over an extended period.

    Suggestion, take the learning and start a pilot programs at all grade levels K-12 to begin the switch.

    Why?.

    1.It’s going that way anyway
    2.Reduce the cost of education
    3.Close Schools
    4.Reduce Teachers
    5.Reduce building maintenance cost

    I can’t think of a better way to close schools.

    Example: Crystal Lake High Schools: Close CL Central and only have CL South and Prairie Ridge.

    Your thought?

  7. But I owe it all, to my teachers at the Illinois Youth Corrections prestigious GED Center.

    I stand on the shoulders of giants like Dean of Woodshop Stosh “three fingers” Snarkski.

  8. We Illinois citizens who worked in the private sector are on the hook for a shortfall of $203 Billion in unfunded pension liabilities of government workers. It is well past time to take extraordinary measures to greatly lower taxpayer responsibility to pay for lavish pensions of various government retirees as well as lower the lavish salaries and benefits of government workers state and local.

    A starting point would be the elimination of the COLA for pensions. It is absurd for government retirees to get yearly increases in their pension amounts when those in the private sector who might have pensions never get an increase. With the COLA, a government retiree will double his/her pension amount about 30 years after retiring. Very rarely are COLAs given for pensions in the private sector.

    Another action might be bankruptcy of the State by whatever means possible. Then, all government retiree pensions get adjusted downward according to what is actually available in the funds.

    Additional actions needed to lower real estate tax bills would be a requirement/law that school districts’ overall cost PER student be lowered by 5 percent each year for the next ten years. After 10 years, increases in levies and cost PER student would be capped at 1 percent per year.

    The above drastic measures are needed to keep Illinois citizens from fleeing to other States that are better managed fiscally and to lower real estate tax bills and income taxes.

    Illinois has been and is the worst State of 50 in terms of fiscal soundness.

    Without drastic actions to fix the Illinois fiscal mess, citizens will continue to flee the State and property values will decline.

    https://www.illinoispolicy.org/reports/203-billion-and-counting-total-debt-for-state-and-local-retirement-benefits-in-illinois/

  9. Gasnevy, You caught my interest.

    When I heard yesterday that the farmers in Wisconsin are having to throw out milk because one of their biggest markets, the schools, have closed, This is criminal!

    The schools are very likely paying their employees during the closing.

    School districts have the huge budgets financed by us.

    Why don’t we insist, by contacting our individual school boards, they continue to be a “customer” and the milk be distributed right at the point of delivery to the schools where paid School Employees can assist the distribution to people in the district or people outside of the district needing food.

    They can come by, and pick up a gallon or two of fresh Wisconsin or McHenry County milk?

    Do any of you readers know someone in the McHenry County Farm Bureau who would also step up and help get this started? I

    I’ve read some very insightful information posted by Sue Handelsman who seems to have a very good grasp on school finances.

    Susan, can you make something out of the benefits healthwise and monetarily to the people who need food and the people of the school districts?

    Thank you to all who will help the people who need milk and dairy farmers who have a product going to waste.

  10. Time to sell, Cal, but see if you can even get $250k first.

    Time to cut losses!

    Is Zillow pre-coronavirus?

  11. Hopeful, that would require actual work from the teacher creatures.

    No way!

  12. Teachers see indeed getting paychecks and health insurance snd contractusl entitlements uninterrupted during this crisis.

    I am stunned that they have not got a plan in place for uninterrupted online learning.

    Many a school board meeting featured presentations of new online software teaching/testing programs, for board approval to purchase (expensive and seemingly redundant).

    I have used KhanAcademy.org, and know many homeschoolers are very satisfied with its quality of modular STEM classes at every grade level…AND IT IS FREE.

    Next, i am baffled that teachers haven’t organized to volunteer at nursing homes.

    Nursing homes are hardest hit and have vulnerable populations.

    Anyone allowed to work there must have background checks and patience.

    Teachers presumably fit these criteris.

    Finally, defined benefit pension entitlements, free health insurance at early retirement age 55 or 58, and 3%COLA.

    Zero to 2% contributions to “earn” this entitlement.

    Compare and contrast to nurses and doctors who have seen their retirement savings devimated in the market crash and their home vslues decimated by 4% property tax rates (so teachers get their entitlements +3% more every year).

    And nurses and docs must pay at least 6.2% of salary every year they work into social security…teachers do mot have this burden.

    My point is this: if Illinois can truly afford a scheme of defined benefits with early retirement and frree health insurance at early retirement age 58, ..
    WHY CAN’T ILLINOIS PROVIDE THE SAME TO NURSES AND DOCTORS??

    What is the rational argument to any medical professional to stay in a State that holds their efforts in such low esteem and taxes them tremendously to pay for the entitlements of professions held in high esteem (teachers and government workers)?

    What is the rational argument to keep these professionals working while risking their families’ lives by daily exposure to COVID-19?

    Teachers might quantify their “gratitude ” to medical professionals by insisting to their unions:

    1. No more defined benefit plans. Join and contribute to social security and establish pension-matching plans like nurses have on 401k or Ira.

    2. No more free early retirement insurance, just like nurses, wsit until Medicare age for free insurance.

    3.their salaries can be raised, and teachers who decide to leave can take portable 401k accounts with them.

  13. Next, i am baffled that teachers haven’t organized to volunteer at nursing homes.

    This really baffles you?

    This isn’t required by any union contract, never going to happen.

  14. As of today there are 286 families ditching the “Friendly Village With Country Charm”, aka Huntley
    with the home selling season just barley under way.

    The pertinent question is, who will be able to afford a home in Huntley ?

    The HPD is gonna have to issue a lot more tickets to make up for the revenue short fall.

    I’m sure they are up for the challenge if they want to keep their jobs
    so be forewarned when traveling about the area.

    https://www.realtor.com/realestateandhomes-search/Huntley_IL

  15. If that is your effective tax rate, you should appeal your real estate assessment.

  16. Schools get SEVENTY-THREE PERCENT of your property tax bill.

    The next-highest, at a distant 2nd?

    Park Districts.

    Now.

    Guess which two taxing bodies are NEVER scrutinized by the Legislature in Springfield..?

  17. Schools or LGBTQ/Racist brainwashing centers.

    I’m glad the kids escaped!

  18. This is a critical time for civilian vigilance over taxing bodies and NGOs receiving oceans of federal taxpayers’ money.

    Evidence should be collected (legally, remember you cannot record a person speaking in Illinois) and False Claims Act cases organized.

    There are substantial rewards for citizens who follow through.

    Civilian scrutiny of political class malfeasance could have a chilling effect on future such malfeasance.

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