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Post by southsidesignmaker on May 2, 2011 10:49:46 GMT -6
The county of Will 2010 property tax bill has arrived
Value of residence DOWN 9% from last year.
Total Tax amount DUE DOWN 3% from last year
Tax RATE increase or decrease year over year.
Forest preserve INCREASE 3%
School District 204 INCREASE 8.7%
City of Napertucky INCREASE 3.3%
Naperville Park District INCREASE 9%
WILL County INCREASE 5%
Spoke with a neighbor who had also opened new tax bill, his reply was priceless. He exclaimed how great it was that his taxes went down almost 300 dollars. When I tried to explain that his home dropped 10% and his actual tax rate for all taxing bodies went up 3-4 times the rate of inflation, he just had a glazed look on his face, as I walked away he noted that he was just happy that his taxes are less.
As most know I like to look at things as a percentage increase, perspective is so much easier. My read on this is simple (though I suspect Big Mac can elaborate much better), Real estate values have been pummeled and it won't be long before folks in district will be paying close to 3% of market value to the tax man. Of that 3% over 70% will go to the local school district. This 70 % to the school district is bound to increase on a percentage basis because of the high cost of fixed expenses.
High real estate taxing states like Illinois may take a back seat to other competitive states as the cost of real eatate taxes for many will be just like another mortgage. With the baby boomers aging quickly there is a real possibility of a vacuum in the real estate market for years to come as buyers look at the real estate taxes nearing 3% (average home in this neck of the woods 400K) or about a grand a month to the tax man.
One can only wonder how an operations ref will fly in this environment. Of course if the reaction is anything like my neighbor's the ref should pass without a hitch.
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Post by doctorwho on May 2, 2011 12:32:22 GMT -6
The county of Will 2010 property tax bill has arrived Value of residence DOWN 9% from last year. Total Tax amount DUE DOWN 3% from last year Tax RATE increase or decrease year over year. Forest preserve INCREASE 3% School District 204 INCREASE 8.7% City of Napertucky INCREASE 3.3% Naperville Park District INCREASE 9% WILL County INCREASE 5% Spoke with a neighbor who had also opened new tax bill, his reply was priceless. He exclaimed how great it was that his taxes went down almost 300 dollars. When I tried to explain that his home dropped 10% and his actual tax rate for all taxing bodies went up 3-4 times the rate of inflation, he just had a glazed look on his face, as I walked away he noted that he was just happy that his taxes are less. As most know I like to look at things as a percentage increase, perspective is so much easier. My read on this is simple (though I suspect Big Mac can elaborate much better), Real estate values have been pummeled and it won't be long before folks in district will be paying close to 3% of market value to the tax man. Of that 3% over 70% will go to the local school district. This 70 % to the school district is bound to increase on a percentage basis because of the high cost of fixed expenses. High real estate taxing states like Illinois may take a back seat to other competitive states as the cost of real eatate taxes for many will be just like another mortgage. With the baby boomers aging quickly there is a real possibility of a vacuum in the real estate market for years to come as buyers look at the real estate taxes nearing 3% (average home in this neck of the woods 400K) or about a grand a month to the tax man. One can only wonder how an operations ref will fly in this environment. Of course if the reaction is anything like my neighbor's the ref should pass without a hitch. the crooks laying the groundwork for a future referendum are counting on that deer in the headlights look to try and ram one thru-- it is up to others to ensure people get educated as much as possible. I just pray I can unload my house in this debt laden district with overhead out the ying yang for the next 20 years so I can let someone else pay for the foolishness of a few board members who loved spending with other people's checkbooks. Someday, maybe, voters here will figure out how badly they were screwed over |
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Post by doctorwho on May 2, 2011 12:33:43 GMT -6
The county of Will 2010 property tax bill has arrived Value of residence DOWN 9% from last year. Total Tax amount DUE DOWN 3% from last year Tax RATE increase or decrease year over year. Forest preserve INCREASE 3% School District 204 INCREASE 8.7% City of Napertucky INCREASE 3.3% Naperville Park District INCREASE 9% WILL County INCREASE 5% Spoke with a neighbor who had also opened new tax bill, his reply was priceless. He exclaimed how great it was that his taxes went down almost 300 dollars. When I tried to explain that his home dropped 10% and his actual tax rate for all taxing bodies went up 3-4 times the rate of inflation, he just had a glazed look on his face, as I walked away he noted that he was just happy that his taxes are less. As most know I like to look at things as a percentage increase, perspective is so much easier. My read on this is simple (though I suspect Big Mac can elaborate much better), Real estate values have been pummeled and it won't be long before folks in district will be paying close to 3% of market value to the tax man. Of that 3% over 70% will go to the local school district. This 70 % to the school district is bound to increase on a percentage basis because of the high cost of fixed expenses. High real estate taxing states like Illinois may take a back seat to other competitive states as the cost of real eatate taxes for many will be just like another mortgage. With the baby boomers aging quickly there is a real possibility of a vacuum in the real estate market for years to come as buyers look at the real estate taxes nearing 3% (average home in this neck of the woods 400K) or about a grand a month to the tax man. One can only wonder how an operations ref will fly in this environment. Of course if the reaction is anything like my neighbor's the ref should pass without a hitch. SSSM - did you tax bill also show a decrease in property value last year - or is this the first catching up ? ( I am in DuPage so I want to see if the sameholds true here)- -9%-- I wish our homes were only devalued 9% - I'd sell today |
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Post by Arch on May 2, 2011 13:34:38 GMT -6
Friend in Will county, D204 in Aurora went UP this year. Up 30% in the 4 years he's lived there. 204 is over 60% of his tax bill.
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Post by southsidesignmaker on May 2, 2011 13:38:26 GMT -6
Doc, the tax man has dropped assessed value about 9% when compared to last year. Market value at present is approx. 12% lower than this years assessed value. I suspect that it may very well be possible to be back another 20% under current market economics in the next 5 years. Of course I am somewhat optimistic that our area is near bottom.
For myself it will not be critical as I am very conservative and always buy shacks that have built in equity, (of course that does require the ability to use power tolls and a hammer).
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Post by southsidesignmaker on May 2, 2011 13:47:07 GMT -6
Arch, our district portion of this years tax bill is just over 70% and has been at that level for a couple of years. This will be a particular concern as our district becomes older and taxpayers with long memories long for the days when school districts were 50% of the tax bill and the total tax bill was 2% of assessed valuation (a valuation that usually included a "lower than market" value).
When I started paying real estate taxes in DuPage county total taxes were 1.8% of a conservatively assessed residence. Yes, the good old days!
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Post by Arch on May 2, 2011 14:39:57 GMT -6
My 204 portion went up about $300 and my entire bill went up by about $350...
I'll do a side by side of each category when I get back home.
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Post by doctorwho on May 2, 2011 15:16:20 GMT -6
Yeah well same here - my $204 portion up $231 +$5more for pension.
tax rate from 4.407 to 4.7901 - that's up 9.15% -- gee a little more than the bullshit they told everyone.
Maybe I can bring it tonite and ask them while a few of the the thieves leave office
They told us our taxes were going down until 2014 - lying SOB's, now imagine what happens when they actually said it was going to increase..
DuPahe only lowered my fair market value by 4% while 204 taxes up 9%+ -- great deal. Must be because I'm 'so close' to that$150M boondoggle they HAD to have
My bill up $269 total of which $236 belongs to the sheisters of 204.
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Post by asmodeus on May 3, 2011 13:33:25 GMT -6
The bill for my house (White Eagle) went up over $400, which is about 3%. What I don't understand is how the assessed value went down just 3%, and how it is actually 3% above 2007 levels.
When can we bitch to the assessor about this? Just like last year, I never received a formal assessment in the mail.
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Post by macrockett on May 3, 2011 13:52:45 GMT -6
The bill for my house (White Eagle) went up over $400, which is about 3%. What I don't understand is how the assessed value went down just 3%, and how it is actually 3% above 2007 levels. When can we bitch to the assessor about this? Just like last year, I never received a formal assessment in the mail. See Rule 3 for Will County. The assessments come out in August for Will Amodeus. Not sure you are in Will or DuPage, etc. so it could be somewhat different. Anyway, in Will you complain in August, early Sept. |
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Post by treehugger on May 3, 2011 15:00:13 GMT -6
My tax bill went up over 8%, $523.00. I live in a townhome that a stiff wind could blow over. I have no property. This is nuts.
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Post by Arch on May 3, 2011 15:13:51 GMT -6
My tax bill went up over 8%, $523.00. I live in a townhome that a stiff wind could blow over. I have no property. This is nuts. But hey, someone got a more lucrative contract a year before they needed to decide anything.... To put it in perspective, that $523 of yours each year is just a touch more than she gets for a car allowance EACH MONTH per her new contract (above and beyond her more than generous salary). Remember, it's all about the kids. ;D every bit of it. |
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Post by doctorwho on May 3, 2011 17:34:12 GMT -6
My tax bill went up over 8%, $523.00. I live in a townhome that a stiff wind could blow over. I have no property. This is nuts. But hey, someone got a more lucrative contract a year before they needed to decide anything.... To put it in perspective, that $523 of yours each year is just a touch more than she gets for a car allowance EACH MONTH per her new contract (above and beyond her more than generous salary). Remember, it's all about the kids. ;D every bit of it. Car allowance- you have got to be kiddingme -- so we pay for her to buy herself ' somethingnice'-- what a crock. Yeah just like the private sector. |
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Post by Arch on May 3, 2011 20:16:52 GMT -6
But hey, someone got a more lucrative contract a year before they needed to decide anything.... To put it in perspective, that $523 of yours each year is just a touch more than she gets for a car allowance EACH MONTH per her new contract (above and beyond her more than generous salary). Remember, it's all about the kids. ;D every bit of it. Car allowance- you have got to be kiddingme -- so we pay for her to buy herself ' somethingnice'-- what a crock. Yeah just like the private sector. I'm sure somewhere, somehow, we're referred to as the grumpy assholes for pointing this out...not that we had anything to do with actually APPROVING IT!  They did it for the kids  |
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Post by doctorwho on May 3, 2011 20:26:51 GMT -6
Car allowance- you have got to be kiddingme -- so we pay for her to buy herself ' somethingnice'-- what a crock. Yeah just like the private sector. I'm sure somewhere, somehow, we're referred to as the grumpy assholes for pointing this out...not that we had anything to do with actually APPROVING IT! They did it for the kids well I guess it's only fair - my kid was offered a 50+ minute bus ride and we give our super a nice leather seat she could not afford on $260K a year for about the same distance of commute from Geneva to HCC. Yeah, I'd say that's fair  |
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They did it for the kids 
