Please bear with us as our website is undergoing maintenance

Get free daily email updates

Syndicate this site - RSS

Recent Posts

Blogger Menu

Click here to blog

Jon Coupal

PROPERTY TAXES TO INCREASE BY 13 PERCENT IN COMING YEAR

Jon Coupal is President of the Howard Jarvis Taxpayers Association

In Chicago, escalating property taxes are headline news. With the average property tax bill due to go up by 13 percent – and more increases in subsequent years virtually guaranteed – home ownership in the Windy City is in deep peril. No one seems happy except the moving companies.

This drastic tax increase is the result of bad decisions by corrupt officials who have caved to city employee pension demands that are unsustainable without massive borrowing. And that borrowing will be paid for by massive property tax hikes. But if homeowners are considering fleeing exorbitant taxation, they may have to travel a good distance. Illinois residents, even without the Chicago pension tax, are already paying the highest effective property tax rate in the nation at 2.67 percent, according to a recent study by CoreLogic, an Irvine, California-based provider of data to the financial and real estate industries.

Nationally, the study shows the median property tax rate is 1.31 percent of value.

Click here to read the entire column http://www.hjta.org/california-commentary/property-taxes-to-increase-by-13-percent-in-coming-year/