Monday, Dec 22, 2014
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Illinois to ask voters about taxing millionaires

2015 tax rates still far from settled

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jannie122 - Mays not seeking re-election to Quincy School Board - Quincy, IL News - QuincyJournal.com
There has been a lot of info about the school board election in the media. But, Are the same people that were on the Quincy Park Board running? Or, maybe that election isn't held at the same time the School Board Election? Sorry to see Jeff M. go, although I didn't agree with him all the time.
Givemeliberty - Mayor Moore talks garbage...again - Quincy, IL News - QuincyJournal.com
What property of the city does Comsast use? The biggest chunk of property leased to them is probably Amerens power poles, unless they have buildings residing on city property that I am not aware of. the fee paid to the phone company is paid by whoever is leasing the line. If Adams provides DSL to a customer in quincy and they do not have any plant in the area but AT&T does Adams can rent the line…
GuyFawkes10 - Mayor Moore talks garbage...again - Quincy, IL News - QuincyJournal.com
I think Ameren pays also. Maybe we should put up toll booth to enter city so we can tax the people from out of town for using our services. I guess we get them at the cash register but we pay that also
Peoplechamp31 - QPS Board approves higher 2014 tax levy - Quincy, IL News - QuincyJournal.com
If you guys and Mr Gough want to have a real convo why don't you ask Peters and the district how come my kids have to wear winter coats into the Qhs building and why we have so many problems out there with the new HVAC system!
Peoplechamp31 - QPS Board approves higher 2014 tax levy - Quincy, IL News - QuincyJournal.com
They..... I'm fully aware of some of there wages as well! But there not in the media making comments about things they don't know anything about! Irving should have been sold along time ago! We have people renting it from us knowing we will never use this building again! I mean look at Dewey school way worse than Irving by far, but our kids are in that building still! I don't want to…

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Illinois now has the second-highest property taxes in the nation

Illinois now has the second-highest property taxes in the nation

11 months, 2 weeks ago Dennis Rodkin, Chicagomag.com

In the last decade, the state has been climbing the charts—and could pass New Jersey this year

From Dennis Rodkin, Chicagomag.com:

With all the snow this week and the brutal cold forecast for Chicago next week, it’s no wonder so many of us are dreaming of Hawaii right about now. But if you own your home, those daydreams may not only be weather-related: in Hawaii, homeowners are taxed at about one-eighth the rate that Illinois homeowners pay.

On that basis, you could dream about 48 of the states. Illinois now has the second-highest property taxes in the nation, according to a recent report from the Urban Institute. Only New Jersey had higher property tax rates as of the end of 2012, the period covered by the report.

Property taxes in Illinois average 2.28 percent of a home’s value, according to the Urban Institute. In New Jersey, they’re 2.32 percent, and in lowest-taxing Hawaii, they’re 0.27 percent. (The lowest among mainland states is Alabama, at 0.46 percent.)

All the states that ranked ahead of Illinois in the 2007–11 chart saw their tax rates go up in 2012. But the rate in Illinois went up more.

When the data is in for 2013, it’s unlikely to show Illinois stepping down from second place, says Brian Costin, director of government reform for the Illinois Policy Institute. In fact, he predicts that Illinois is on its way to eclipsing New Jersey on property tax rates.

“New Jersey is going up at a slightly slower rate than Illinois,” Costin says, “so in a couple more years like this, we could be number one. But it’s not a number one that you want to be.”

We’ve been moving up. Back in 2005, Illinois property taxes ranked seventh in a report published by the National Association of Home Builders. Then we were sixth during the years 2007–11, for which the Urban Institute’s report gives a multi-year average (see pages 11 and 12 of the pdf).

What’s moving us up the list? Home values are down but taxing bodies’ appetites are up, as Costin sees it. Illinois home values fell farther and are improving more slowly than those in many other states. The latest Case-Shiller index data, which came out on New Year’s Eve, showed that while home values in the nation’s ten major cities have recovered, on average, to June 2004 levels, they’re only back to February 2003 levels in Chicago. At the same time, Costin says, “most local taxing bodies do the maximum increase they can do under the law each year.” Lombard and Lake County are notable exceptions, he says; both have reduced their rates.

When they’re asking for more total dollars in taxation on a smaller pot of aggregate home values, the tax rate is what goes up. It doesn’t necessarily mean that the amount of tax you have to pay goes up, as Cook County pointed out earlier this year.

Nevertheless, to some eyes, it’s the rate spike that that stings most: taxing bodies are asking for more of a share on your asset, even though that asset’s value has dropped. Fast-rising home values during the late, lamented boom economy of the early 2000s “lulled people into a false sense of security,” Costin says. “They accepted increases in property taxes because they thought, ‘I’m making out really well with the value of my home.’ ”

Now, he believes that “our property taxes have gotten so high that it’s having a negative effect on our housing market.” He points to reduced demand, as evidenced by a rising number of people leaving the state. Moving to Indiana—where property tax rates are less than half those in Illinois, and the cost to buy a house is much lower, as well—becomes more appealing, he says. That’s especially true for senior citizens and others who don’t have kids in public schools and so don’t feel compelled to pay high taxes to cover the schools, Costin says; as much as two-thirds of your property tax bill goes to school districts.

There’s another way that Costin sees property taxes hurting the real estate market: corporations that are looking to relocate may consider not only their own potential tax burden but the taxes their employees will pay. Companies that opt to leave Illinois (or if those that were considering coming here choose some lower-tax state), they reduce the demand for homes here, too.

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From the Newsroom

Bob Gough on Twitter

Bob Gough 46 minutes ago

RT @Danielle Tcholakian: "Today is the worst day of My life," writes the son of one of yesterday's slain NYPD officers. http://t.co/jZScBHGY9i
Bob Gough on Twitter

Bob Gough 47 minutes ago

RT @American Thinker: Time for sports teams to wear NYPD logo shirts http://t.co/FLRdc0jY5L
Bob Gough on Twitter

Bob Gough 8 hours, 48 minutes ago

RT @DanRiehl: oh RT @ByronYork: Golf round finished, Obama releases statement on murders of two NYPD officers: 'unconditionally condemn.'
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Bob Gough 8 hours, 51 minutes ago

RT @John Groves: Al Sharpton should be treated no differently than Fred Phelps and the Westboro Baptist Church. #NYPDShooting