GON
$150 Site Donor 2025
Wow, blown away by this article. Illinois woman’s property tax is poised to pop from $756 to over $10,000, a shocking 1,222% spike. Here’s why she’s not alone.
I had to read the article a few times. Seems the computation of woodland now comes in at the same rate as a homeowner land. What the article doesn't discuss is the underlying reason for the increase in the first place- a state with massive debt, deficit, ten plus continual years of population decline, and a exodus of private businesses that use to pay taxes to the state. The money has to come from somewhere. Can't force people to spend money on sales tax that left the state, guess only people left to pay the debt and deficit are the property owners.
If you live in a state with huge unfunded entitlements, large debt and deficits, and declining population- might be worth looking at your options, I can see a like scenario happening in the future in a handful of other states.
https://finance.yahoo.com/news/illinois-woman-property-tax-jumping-130100135.html
I had to read the article a few times. Seems the computation of woodland now comes in at the same rate as a homeowner land. What the article doesn't discuss is the underlying reason for the increase in the first place- a state with massive debt, deficit, ten plus continual years of population decline, and a exodus of private businesses that use to pay taxes to the state. The money has to come from somewhere. Can't force people to spend money on sales tax that left the state, guess only people left to pay the debt and deficit are the property owners.
If you live in a state with huge unfunded entitlements, large debt and deficits, and declining population- might be worth looking at your options, I can see a like scenario happening in the future in a handful of other states.
https://finance.yahoo.com/news/illinois-woman-property-tax-jumping-130100135.html