Illinois Policy Institute provides a detailed look at how Illinois’ high property taxes are forcing residents to consider leaving.
When it comes to property taxes, sticker shock is typical in Illinois. From small-business owners in Chicago to suburban dwellers in middle-of-the-pack school districts, long-time Illinoisans are often bewildered as to why they pay the second-highest property taxes in the nation, at an average of more than 2 percent of a home’s value.
And the nonpartisan Tax Foundation said Chicago’s record-setting property-tax hike will likely vault Illinois to the top of the table, making the Land of Lincoln home to the highest property taxes in the U.S.
But an average only tells so much of the story. Read the full article here.