Illinois Now Has The Second Highest Property Taxes In The Nation!

Property taxes as a share of home prices
Property taxes as a share of home prices
Unfortunately…..this article is as relevant today as Jan 2, 2014…..
According to Ron Kingsley, Owner of Lake County Appeal, Illinois has historically had one of the highest property taxes in the nation…… and Lake County residents pay the highest property taxes in the Midwest, according to the Urban-Brookings Tax Policy Center.
For example, the property tax rate in Vernon Hills increased by 43% from 2007 to 2013. Currently, Lake County property owners pay, on average, 2.33 times the national average, and that’s why Lake County property owners are appealing their property tax assessments in record numbers.  The below headline may soon read: Newsflash— Illinois now has the HIGHEST Property Taxes in the Nation!
Chicago Magazine–Real-Estate  By Dennis Rodkin Jan 2, 2014
Illinois Now Has the Second-Highest Property Taxes in the Nation.    In the last decade, the state has been climbing the charts-and could pass New Jersey this year [2015] 
Illinois’ property tax rates have skyrocketed since 2010 and we now have the second-highest property taxes in the nation, according to a recent report from the Urban Institute.  The average property tax rate as a percent of home value has soared from 1.93 percent in 2010 to 2.28 percent in 2012.  This represents an 18 percent property tax rate increase in just two years.  This rate spike is due to declining home values and local taxing bodies increasing property tax levies.  Click here to read more in Chicago Magazine.