Homeowners Shoulder Larger Tax Burden

Illinois homeowners continue to take a beating – their property taxes have risen again while the share of property taxes paid by commercial and industrial property owners shrank.

A Daily Herald analysis of Illinois Department of Revenue records showed that the Cook county proportion paid by homeowners increased 11.3 in the last 10 years, from 1001 to 2010, and DuPage county increased by 4.6 percentage points in the same time period. And worse yet, taxes paid to Illinois’ 6,000-plus units of government rose nearly $9 billion over the same decade!

Homeowners in DuPage County covered 75.3 percent of all property taxes collected in the county in 2010. Ten years before, homeowners were responsible for 70.7 percent of the county’s property taxes, state figures show.

Homeowners in the suburbs already carry most of the property tax burden.

The shifting tax burden and the actual increase in taxes collected have many worried about the future for suburban homeowners. Is this the end of the American dream of home ownership? Many believe so. Cook County Treasurer Maria Pappas said. “I think we’re going to see less and less homeownership.”

To read more in The Daily Herald, click here

Photo by Patrick Feller

read more

Homeowners taxes rise, commercial taxes drop

Illinois homeowners continue to take a beating – their property taxes have risen again while the share of property taxes paid by commercial and industrial property owners shrank.

A Daily Herald analysis of Illinois Department of Revenue records showed that the Cook county proportion paid by homeowners increased 11.3 in the last 10 years, from 1001 to 2010, and DuPage county increased by 4.6 percentage points in the same time period. And worse yet, taxes paid to Illinois’ 6,000-plus units of government rose nearly $9 billion over the same decade!

read more

Conflict-of-interest concerns dog the Dupage County Board of Review

A recent article, “DuPage appealing place for political figures”, by Andrew Schroedter of the Better Government Association, appeared in the Naperville SunTimes on October 6, 2012 10:56PM, raising concerns about troubling conflicts of interest. This blog entry contains extracts of the article. (Full report can be read here:   DuPage appealing place for political figures ‎)

read more

Why it pays to appeal your property assessment

If you’re sure your property is worth less than the assessor says it is, you might want to contest it. You might not be lucky the first time around, but don’t lose heart – Joe Konecny of Lombard finally which struck a deal, after several years of appeals — that reduced his taxes on his property by almost 20%.

Odds are, you’re not in a position to save quite that much. But it’s a helpful reminder nonetheless.

So: What are your options if you think you’re overassessed? It depends on timing.

read more

Just bought your house? Check your property taxes and assessment!

So you’ve just closed on your dream house, and you have a lot of things going on. Do yourself a favor and add one more item to the list: Check your property taxes and assessment. It won’t take that long, and could save you a ton of money in the long run!

read more