Posted on 07/28/2016 6:27:27 AM PDT by george76
The property tax bill on Jeff and Roberta Price's Lincoln Park home was about $400 in 1977, the first year they lived there. It's been going up ever since but rarely with the jolt of this year's 63 percent increase.
The increase, from $8,652 to $14,104, has the couple re-considering their plan to retire in the Kenmore Avenue home, where they raised their kids. They're looking at homes in Indiana "as a backup plan" for the time when Roberta retires in a few years, said Jeff, who is already retired.
"We have lived in our home for almost 39 years with the hope that we could remain here in our golden years," Jeff Price said. The increase in their tax bill amounts to about $454 a month, an amount that they can squeak out, he said, but he's aware that for homeowners who struggle financially, it won't be easy.
"I don't know how anyone can plan their life with these unconscionable increases," Price said.
(Excerpt) Read more at chicagobusiness.com ...
Thank goodness for Michigan’s Proposal A that limits the amount that property taxes can be raised, but are then reset when the property is sold to a new owner.
The liberal stupidity tax.
My God, that’s criminal. That’s more than my mortgage payment per month.
And the property taxes that I pay for my home in Indiana are $1800. That is why it is their back up plan.
How about Arkansas. Retirees over 65 can never have another property tax increase by law. Arkansas is tax friendly to it’s senior citizens.
Wonder who they voted for.
It’s just like Federal Income Tax ... take it from your paycheck a few hundred at a time and things are fine. Make people write a check for the full amount once a year and there would be a revolt.
If that increase is a common one, look for a lot of insurance fires followed by relocations rather than rebuilds.
What's criminal is the stupidity of people who keep electing people who fleece them over and over again. The good news is that people can vote with their feet.
If I were them I would not wait. Pretty soon they will not be able to sell their home except at a huge loss. I see the average home in that area in a few years like most of Detroit.
The Russians were responsible for this, you know.
And since failure to disclose a material fact like that will result in legal action, it can render properties nearly unsaleable.
“Illinois is not broken, it’s fixed” - Dan Proft
I see lightning hitting their home in the near future, destroying it.
Want more information? Call me now!!!
Too soon?
Just the beginning. Property owners had better git while the gitting is good.
I’d have loved it if they brought up politics. Perhaps asking him if he voted for the people in power and how long he’s voted for them.
When Illinois passed it’s temporary budget a month ago, they allowed Chicago (only) to have their property tax cap lifted, to better allow Chicago to “catch up” on their pension liability.
It was the only way to pass the stupid budget. It only covers a half year, too.
The problem is that they move to other places and continue to vote for the very same types of people that drove them out of their home state. They never grasp the fact that Dems are the problem!
Please DO NOT come to Indiana. We don’t want the Chicago mindset here.
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