Illinois homeowners pay double the national average on their property tax bills.
While Kevin McCallister’s wit allowed him to scare off the “Wet Bandits,” his tricks will be no match for the Cook County tax assessor who comes back each year with a higher tax bill.
Property taxes paid on the “Home Alone” house in Winnetka where the movie was set will be about $30,201 in 2020 and are on track to be a few hundred dollars more in 2021. Since 1990, when the holiday film featuring a young Macaulay Culkin came out, the homeowners have paid more than $890,000 in property taxes.
In 2000, the “Home Alone” owners paid almost $19,000 in property taxes. By 2007, this climbed to over $30,000 per year. Recent taxes have been stable in alignment with fluctuating property values, peaking at almost $37,000 in 2014.
The value of the house at 671 Lincoln Ave. in Winnetka has taken a hit in recent years, losing about $326,000 in value. It sold for nearly $1.6 million in 2012. Assessors now peg the market value at nearly $1.26 million.
Property tax pain isn’t limited to the suburbs: Chicago’s single-family residences were hit hard by average property tax increases of nearly $700 in the central part of the city and $600 in northern neighborhoods in just two years, according to the 2019 and 2020 county clerk reports. The south side average increased almost $60, and in 2020 alone, Cook County’s suburbs saw increases over $100.
Average property tax bills were $5,288 in north Chicago, $5,981 in the central city and $2,445 on the south side. North and northwest suburb bills averaged $7,537, while south and west suburbs were $5,813.
Ho, Ho, Ho, read more here.
Leave a Reply