Time was when Chicagoland homebuyers could expect to pay 2-2.5% of their home’s purchase price in property taxes. Today, that figure is close to 4%, emphasized a July 26 article posted on The Woodstock Independent.
“People used to say, ‘How much is this house?’ Now their first question is ‘What are the taxes?'” Woodstock real estate agent Rick Bellairs is quoted as saying in the article. Continue reading →
This was our third year in a row and it was just as rewarding as in previous years.
The Inspiration Café is located at 4554 N. Broadway. Administered by the Inspiration Corporation, the café is one of many services offered to the homeless. The Café provides meals to its programs’ participants, treating them with dignity and respect, while they order from a menu and enjoy their meal in a clean, inviting setting. Continue reading →
The deadline for Cook County homeowners to pay the second installment of their 2015 property taxes has now passed. Anyone who failed to meet the Aug. 1 deadline will need to pay a 1.5% interest penalty, assessed each month of the delinquency.
Besides Mayor Rahm Emanuel’s $588 million property tax increase, approved by the Chicago City Council last fall for police and fire department pensions and school construction, Chicago homeowners will face an additional $250 million tax levy to pay for teacher pensions. This amount is $80 million more than Emanuel originally proposed for teacher pensions over a year ago.
Why Is This Happening?
As the Chicago Sun-Times reported, the hike is the result of a compromise deal between the Illinois Legislature and the City of Chicago, which didn’t receive as much money as it had hoped for from the State. A top mayoral aide quoted anonymously in the article said, “We didn’t get quite as much as we wanted from Springfield. The State is stepping up. They wanted to see the city step up.” As a result, Chicago homeowners will be paying up. Continue reading →