The oldest bar in Chicago is forced to close due to property taxes. Schaller's Pump sees its property taxes increase to an unaffordable $6,100 per year, forcing the bar to close for the first time since 1881. Dan & Amy discuss how the Cook County Assessor "cooks" the numbers to hike property taxes to levels that they prevent poor and minority families from owning a home.
There are two systems of home valuation in Chicago and Illinois: the actual market and the government. The latter bears little resemblance to the former as the government destroys your home equity.
Dan & Amy discuss the latest EXCLUSIVE regional property tax analysis, where they look where no one has before: Chicago's South Side. Read the full analysis here.
In recent decades, Kendall County has long been seen as a bright spot in the Chicagoland area, earning “fastest growing in the nation” honors for nearly doubling in size during the 2000’s.
But according to an analysis by Local Government Information Services (LGIS) of property taxes and home values, which publishes the Will County Gazette, population growth hasn’t rubbed off on the county’s home equity.
All five Kendall County communities analyzed saw their real home prices fall dramatically from 2007 to 2015, from a low of 17 percent in Montgomery to a high of 44 percent in Plano.
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.
Previous regional reports can be viewed here:
Dan & Amy discuss the latest regional analysis.