Illinois homeowners have the second-highest property tax rate in the nation, a personal finance website reports.
WalletHub analyzed the real estate taxes and home values in all 50 states and the District of Columbia to come up with a ranking of the property tax rate. Only New Jersey residents had it worse than Illinois residents, it found.
Illinoisans face an effective property tax rate of 2.31 percent, while New Jersey residents pay 2.44 percent.
For Illinoisans, that comes to an average of $4,157 in property taxes on homes valued on average at $179,700. New Jersey residents pay an average of $7,840 in taxes on homes valued on average at $321,100.
Read more here.
Yet, the politicians that raise taxes keep getting voted in… Sigh.
To Natuarian. I agree with you …politicians who raise our taxes, but, also, aren’t the biggest tax gobblers the schools? On April 2nd you are going to vote on a huge $185,000,000 referendum in Dist 220, are you not? And Board of Education?
People in Illinois are paying 10% and more of their gross incomes just for property tax…then add in the income tax, sales tax, gasoline tax, energy tax, communication tax and more. The best money that can be spent here is for a moving van.
By my calculation, 73 percent of these taxes go to teacher’s salary and pensions and the remaining for everything else. Funds for everything else keeps shrinking while the percentage for salaries and pension continues to increase. Expect more capital improvement referendums in the future as the salary and pension side of the ledger continues to gobble up a greater percentage of the tax revenue. For many of us Frank Caba offers the only solution.
It’s easy, I’m leaving the state……soon their won’t be a Illinois. Hello Naples.