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.