Property Tax Month/Year

current value 950 18400 tax and my rental about 8000, what kills me they have been reassessing the homes every other year and valuing them at market or above. i believe there is a cap at 2 percent so the are over valuing the property so they can collect more 

 
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I'm curious... I live in northern Illinois. Stillman Valley.  I know our taxes are high in Illinois and varies greatly from one city / community to the next. Housings cheaper but taxes, not so much.

Paid 175,000 for 1.3 wooded acres and a 2300 sq. ft. 3 bedroom, 2 bath ranch home 8 years ago. Zillow says 290,000 now. I think I could get 30k more than that. Yearly property tax is $4800.00

Westwood 8 years ago.webp

 
HARRY CARAY said:
I'm curious... I live in northern Illinois. Stillman Valley.  I know our taxes are high in Illinois and varies greatly from one city / community to the next. Housings cheaper but taxes, not so much.

Paid 175,000 for 1.3 wooded acres and a 2300 sq. ft. 3 bedroom, 2 bath ranch home 8 years ago. Zillow says 290,000 now. I think I could get 30k more than that. Yearly property tax is $4800.00

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Not that much higher than here. We generally pay 1.25% (you’re just under 1.75%), but our tax rate is based on purchase price and can’t escalate more than 2% per year under Prop 13. 

There’s a bill that will be on the ballot next year to strike that and instead base it on actual value. This will likely price a lot of us out of this state since my taxes would jump from $5800/year to over $13k/year. 

I don’t have a lot of faith that the election authority won’t make it read like a good thing, and that the idiots in this state won’t pass it because Gavvy told them to. 

 
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