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cloudslicer
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Illinois should be dissolved as a state.
05/14/18 at 10:12:31
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https://www.armstrongeconomics.com/world-news/taxes/illinois-to-impose-1-propert...

"This is how empires, nations, and city-states die. It is always the abuse of taxation that drives people from their homes"
- Edward Gibbon from his Decline & Fall of the Roman Empire


  

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oldcoot
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Re: Illinois should be dissolved as a state.
Reply #1 - 05/15/18 at 15:12:38
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Only 1%???

Geez, those guys are pikers!

Here's the effective tax rate in my county:  1.2336255%

There are other counties in CA that have rates as high as:  1.4%

So if Illinois is just now imposing a property tax of 1%---wait 'til next year and see what they raise it to! Roll Eyes

I don't know what the other states taxes are, but I wouldn't be surprised if CA wasn't the highest, overall.
  

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Re: Illinois should be dissolved as a state.
Reply #2 - 05/15/18 at 16:04:44
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oldcoot wrote on 05/15/18 at 15:12:38:
Only 1%???

Geez, those guys are pikers!

Here's the effective tax rate in my county:  1.2336255%

There are other counties in CA that have rates as high as:  1.4%

So if Illinois is just now imposing a property tax of 1%---wait 'til next year and see what they raise it to! Roll Eyes

I don't know what the other states taxes are, but I wouldn't be surprised if CA wasn't the highest, overall.


OldCoot -- That is an Additional 1% ==

Overview of Illinois Taxes
The state of Illinois has the second highest property taxes in the country. The statewide average effective tax rate is 2.32%, nearly double the national average.


Well that puts them at 3.32% and counting.  For a $200,000 house we are talking about $7000 a year.  They won't be able to sell their house, who would buy it with the property tax.
  
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oldcoot
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Re: Illinois should be dissolved as a state.
Reply #3 - 05/15/18 at 20:30:30
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bigmck wrote on 05/15/18 at 16:04:44:
OldCoot -- That is an Additional 1% ==

Overview of Illinois Taxes
The state of Illinois has the second highest property taxes in the country. The statewide average effective tax rate is 2.32%, nearly double the national average.


Well that puts them at 3.32% and counting.  For a $200,000 house we are talking about $7000 a year.  They won't be able to sell their house, who would buy it with the property tax.

You guys are right.  Illinois is doomed to become an expensive tourist trap. 
People can go and see the Obama Museum after it's built.  (Est. construction costs = 1.5 Billion!
And he wants to take up part of a shoreline park to build it.
And people think CA is bad!  Grin Grin
  

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Lily003
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Re: Illinois should be dissolved as a state.
Reply #4 - 05/15/18 at 20:54:03
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Yes, the 1% is basically a surcharge on whatever you already pay.  And they want to impose it for 30 years.

They want the taxpayer to pay for the Illinois state workers' PENSIONS.  Some people don't even get pensions themselves, but will be forced to pay for state employees.  This has been an ongoing mess for many years.  They promise state employees a lot of things (think political jobs) with no idea how to get the funding.  Now it has put Illinois in the sewer with its financial ratings.

This will lower property values for the taxpayer because no one will want to buy property with that surcharge on the taxes.  So you lose your property value as well.

They have gone to court on this, and the courts have said that the Illinois state Constitution does not allow them to go back on promises.

My daughter has been begging us to move to Florida.  It's looking better.  Illinois is losing taxpayers at a high rate.  And the town I have lived in for over 30 years has had changing demographics that aren't positive.  We had virtually no crime and now we do.  And the town is still fighting HUD against their "affordable housing" scheme to give nice property to people who can't afford it.

Just another Democrat run paradise.  So many businesses have fled Illinois as well.

Lily003   Shocked Angry Cry Embarrassed
  
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ZeWazir
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Re: Illinois should be dissolved as a state.
Reply #5 - 05/16/18 at 00:11:03
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Say....

Won't lowered property values mean lowered property tax revenues?
  
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Lily003
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Re: Illinois should be dissolved as a state.
Reply #6 - 05/16/18 at 03:30:21
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ZeWazir wrote on 05/16/18 at 00:11:03:
Say....

Won't lowered property values mean lowered property tax revenues?


Noooooooo.  We've already asked that back when the housing market was at its lowest.  They said their need for money didn't go down, so they weren't going to lower property taxes either.

We said you lowered the value of our property, and taxes are based on the value, so lower the taxes too. HA HA HA.  Well, nope.  They still needed the same money, so they weren't going to lower the taxes.

Lily003    Angry Angry Angry Angry Angry
  
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bigmck
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Re: Illinois should be dissolved as a state.
Reply #7 - 05/16/18 at 07:17:28
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ZeWazir wrote on 05/16/18 at 00:11:03:
Say....

Won't lowered property values mean lowered property tax revenues?


You silly boy.........They will just raise the taxes to get more revenue.  It is not a problem.  Smiley
  
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Lily003
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Re: Illinois should be dissolved as a state.
Reply #8 - 05/16/18 at 15:53:06
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They never go without anything.

Only YOU are expected to go without.  While they keep raising taxes and fees on you, they never ask how you are going to do without it.

Lily003   Angry
  
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Re: Illinois should be dissolved as a state.
Reply #9 - 05/17/18 at 00:07:01
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I guess I'll never really get how the high population areas do things.  Montana has property taxes.  Taxes are based value, and property values are reassessed every other year.  If the value goes down, so do the taxes.  Of course, 'round here with all the people moving in from those 'other places' (IYKWIM), property values hardly ever go down (crisis of 2007 the only time in my memory), and more often than not go up at 2-3 times the average inflation rate. It can be a stressor on people on fixed incomes.

OTOH, more than once in the last couple decades the people in the state capital of Helena actually took notice, and wrote  reduction bills to the state tax. One time they even gave property owners a rebate because values were up enough revenues were at an all time high surplus. So they actually gave some of it back.

Then the boneheads in the five larger cities (towns to most of you) overrode the rural voters and put a full-fledged demoncrap in, and he spent our surplus in less than two years. Now they're making cuts to meet the balanced budget requirement of our constitution - and of course the cuts are where they hurt the most people to "teach us" for denying them any tax increases. (Any increase in state property taxes have to go through a public approval vote. AND the legislature is now under republican control.)
  
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