Skip to comments.Property values fall, yet taxes go up
Posted on 09/25/2011 7:15:52 AM PDT by Libloather
Property values fall, yet taxes go up
Friday, September 23, 2011
(CHICAGO) (WLS) -- Cook County property tax bills will go out next month, and homeowners will be asked to pay more for having less.
Even though most property values have dropped over the past three years, most property tax bills will be going up again.
Falling property values and rising property taxes have turned the American dream for many into a nightmare in virtually every county in the state.
Nowhere in Cook County have home prices fallen more dramatically than in the northern and northwestern suburbs -- anywhere from 10 to 14 percent since houses there were last assessed.
Skokie homeowner Jill Dillard says any property tax increase will be difficult to accept.
"When your house isn't worth as much as it was but yet you have to pay more in taxes, it just doesn't seem right," said Dillard.
(Excerpt) Read more at abclocal.go.com ...
My town did similar.
Our homes all dropped about $100,000 in value since last town valuation (2006). My neighbors took solace, thinking they would have a reduced property tax bill. I LMAO.
And of course the town simply raised the rate per thousand to get same (or more) revenue.
You don’t think the hacks would ever make cuts?
A couple years ago, here in Summit County, Ohio, they dropped the value of my house byb$1,500,,,, and raised the value of my lot by $10,000.
That happened to us here in Jefferson Parish, LA. Our local newspaper had a big headline a few weeks ago saying that property values were at 2004 levels, yet our property tax bill that we received shortly thereafter had gone up.
And again I ask, will there ever be a day when the multitude of lazy, apathetic, ignorant, brain-dead citizenry of this country figure out that liberals are the cause of this continuing calamity?!
And you better cough up the loot or risk losing the house. Not to worry - it's all for the common good.
G-d forbid they take it out of the public school budget...
Ah naivte is a wonderful thing to watch. Of course the costs for government services go up when there is the expectation that more money is available. That is how it works, and that is why the government is such a lousy customer on behalf of the public. The guys in charge were put in charge to keep increasing the take and the dole out to those on the take. It is everywhere in every transaction every government engages in. And now the jig is up because we ran out of money 8 years ago, and now have run out our credit line as well.
Chicago elects democrats. They are getting what they deserve.
Unfortunately, Pima County (where I live) elects democrats too...but many of the democrats don’t own property.
Since the long-term Obamugabe plan is to turn the government into the landlord, this makes abundant sense. A small part of the people won’t be able to pay the tax, then there will be a lien, etc. with the property finally seized.
Maybe a large corporation or union will then administer the properties —some entity that is backer of The System.
This is all about transferring private wealth into public coffers —witness GE, GM. etc.
EVERYONE is rich - in Obamaland! Whoohoo!
Yea, how’s that hope and change crap working out for you?
Republicans are doing the same thing all over the country. When it comes to the greed of govt there are no political parties. There are only grasping corrupt politicians no matter what names they call themselves.
We are in Maricopa. Our property taxes did go down this year.
there is no limit to the greed of public servants.
public parasites would be more accurate.
Who is John Galt?
Yep. And the real icing on the cake is that they figure values will go backup and they can keep the higher rates.
If values go back up, you will get doubly reamed out.
Here in Texas, both property values and taxes continue to rise. Every year, but one, of the past two decades my taxes have risen over 10+% (fuzzy math and rounding up over the “legal” limit). There hasn’t been a lull in construction here and more out of staters and illegals are moving in.
Actually, rates do tend to drop when values recover. However, the drop is never nearly as much as the original increase, so property taxes do in fact continue to rise indefinitely.
This same controversy is huge here in Aiken County, SC.
Properties were recently revalued and many, many, tax payers are very upset. County officials have held three meeting with tax payers. All were filled to overflowing with pissed off people.
If you want to protest your assessment, you normally have 90 days to do it. The outcry is so overwhelming this time that officials have extended the protest period an additional 90 days.
Imagine: Your stock price goes down, and your dividend goes UP.
YEAH RIGHT. But for Uncle Sam, that’s a reality.
Did a government program end up not working? In the private sector, you STOP that program. In the public sector that’s a reason to fund it MORE.
The reason it’s called “real estate” is that it used to be, literally, “property of the Crown.”
Because of property taxation, the modern situation is not that much different, except that the “Crown” is now “City Hall.”
Mine went down this year, but there will be an election in Nov to try to raise the rates “for the children” again. It failed in a close vote in 2010, but the schools have rightly, I think, judged that in an off year, only those who want money for their kids will turn out to vote. If so, my taxes will go up next year...”for the children”.
I think $2500 on a 235K home is plenty, but I’m sure others will not. After all, if you believe what the schools are saying, this raise is all that stands between great schools and total collapse. The idea of looking for savings doesn’t seem to mean much to our schools here...
Here in California we have to go to the state to try to change the law.
Fortunately in my county they allowed me to have my property reappraised (not required under Prop 13) so that I could pay a lower rate for a few years.
In the short run Californians have saved a lot from Prop 13, but in the long run more and more power has been given up to the state and taken away from local authorities.
property taxes went down in florida too, course we do have an awesome governor
property taxes went down in florida too, course we do have an awesome governor
No slur on your gov, but your property taxes are county and local. Your valuation and millage rates are set by the local taxing authorities and the water management district.
When I left Florida in February of 06, Polk County raised rates by nearly 25%. As well as quadrupling the so called impact fees on new homes.
also there is something in the florida constitution that protects homesteaded homeowners that limits property tax increases to 3% a year
The lion's share is still county and local.
The 3% limit is on increased valuation of your property. Not the millage rate.
Out of curiosity, pull out your property tax bills for the last 5 years and see what your assessed value has done. My expectation would be that it hasn't gone down to the same degree that your market value has. If it has gone down at all.
Scott signed a bill that caps the amount of property tax that the independent fiefdoms here in Florida called “Water Management Districts” can charge homeowners.
I think they were saying the bill would reduce property taxes by 30% for homeowners.
And because they’re liberals fleecing liberals, they just passively sit there and politely say ‘it doesn’t seem right’.
If it were conservatives doing this they’d be organizing riot squads and calling for resignations and recall drives.
They unfortunately deserve this, they elected leadership that said to solve our problems, we will greatly increase taxes on people and business, and greatly increase our borrowing to pay off certain debts, today.