Dan & Amy look at McHenry County in the latest exclusive regional analysis of property taxes produced by Proft's Local Government Information Services as reported in community newspapers throughout Illinois. Read the full analysis here.
In McHenry County, teacher pay spikes while home values plummet
When she paid $233,000 for a blue-grey four-bedroom with red shutters at 640 Krenz Ave. on the south side of Cary, Victoria Green didn’t know someone else had been secretly borrowing against her house.
Not officially. But literally.
It was Nov. 2004. Cary School District 26, which includes the 600 block of Krenz Ave., was in a predicament.
It had just agreed to give its teachers, already the highest-paid in McHenry County, a massive pay increase. But it didn’t have the money. It was running out of cash.
Something had to give.
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