Property tax bills shock residents
If you shrieked in horror when you opened up your property tax bill last week, you’re not alone. Far from it.
Yet again, tax bills for many went up, despite the fact that home values have plummeted since the housing bubble burst. And yet again, the ironic main culprit is the law enacted 20 years ago to protect us from runaway property tax increases to pay for schools, county and municipal government and other services.
The tax bill for accountant Leslie Keast of Crystal Lake went up 16 percent, from $4,791 to $5,548 – her home’s value increased substantially despite having two foreclosed homes across the street. Across town, retired upholsterer Barbara Rogers’ bill went up 11 percent, from $5,180 to $5,750, despite her home’s value going down 7 percent and the senior citizen exemptions she takes.
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