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However, if you feel this way, please list out the taxes that one would be charged in both states so that there is support for your claim. I would hate to have someone read inaccurate information on these boards, so please itemize out all taxes or charges that you feel "even out" between the two states. Thank you.
Now that prices have come down in majority of middle class southern and southwestern suburbs. NWI just isn't any cheaper anymore. Not for comparable income suburbs. Maybe for lower income suburbs in NWI. But the same can be said for lower income chicagoland suburbs with cheaper housing cost. If you really compare median incomes of the south and southwest suburbs to the NWI towns with similar middle class median incomes. You will find that overall, home prices are currently lower on the illinois side by as much as 30 percent in some cases. The extremely low property taxes in NWI has meant far fewer foreclosures. Which has kept the market over inflated, clearly not near any bottom because middle class NWI towns are now more expensive than similar income chicagoland suburbs.
I contend that the extremely low property taxes in indiana has kept the housing market in northwest indiana over inflated. While home prices have actually come down considerably in similar income south and southwest chicago suburbs which have much higher property taxes. The extremely low property taxes in indiana have actually made the home prices more expensive during this downturn in housing, canceling out any savings for new homebuyers in NWI. While existing homeowners in NWI still enjoy the benefit of low property taxes, a new homebuyer will currently have to pay a premium to purchase a home with low property taxes in NWI. When comparing similar income chicagoland suburbs where a comparable home can currently be purchased at a considerable discount.
Last edited by allen2323; 04-25-2011 at 01:25 PM..
Now that prices have come down in majority of middle class southern and southwestern suburbs. NWI just isn't any cheaper anymore. Not for comparable income suburbs. Maybe for lower income suburbs in NWI. But the same can be said for lower income chicagoland suburbs with cheaper housing cost. If you really compare median incomes of the south and southwest suburbs to the NWI towns with similar middle class median incomes. You will find that overall, home prices are currently lower on the illinois side by as much as 30 percent in some cases.
I contend that the extremely low property taxes in indiana has kept the housing market in northwest indiana over inflated. While home prices have actually come down considerably in similar income south and southwest chicago suburbs which have much higher property taxes. The lower property taxes in indiana have actually made the home prices more expensive canceling out any savings for new homebuyers. While existing homeowners in NWI enjoy the benefit of low taxes, a new homebuyer will currently have to pay a premium to purchase a home with low property taxes in NWI. When comparing similar income chicagoland suburbs.
I really don't understand the point you are trying to make. Home prices in Indiana have not fallen as sharply as in Illinois. They also did not spike as much during the height of the housing boom either. And this is a bad thing for Indiana how? What a novel concept that fiscal responsibilty and certainty in State government can lead to a more stable housing market and business climate. Compare just about any similar income town on either side of the border and you'll find the Cost of Living Index will be lower on the Indiana side. This takes housing costs, taxes, transportation, food, utilities, ect. all into consideration.
It's true that all Indiana counties except Lake have an income tax, but they are at a small fraction of one percent. And the cost of plates for cars are based on the value of your car, which could mean paying a couple of hundred more if you have a newer car. But when you consider that a $200,000 home will have about a $2000 property tax bill (unless you live in Munster where assessments are ridiculous) where it could be anywhere from $4-6000 in Illinois, you will most likely come out ahead in Indiana. Retired people may not come out as far ahead because Indiana taxes the same amount of Social Security that the federal government does, whereas in Illinois none of it is taxed. And Indiana taxes government pensions, where Illinois does not. Everyone considering a move to another state needs to look into all these things. But for most people I think a move to Indiana means a tax savings, a small one for some and a large one for others.
I really don't understand the point you are trying to make. Home prices in Indiana have not fallen as sharply as in Illinois. They also did not spike as much during the height of the housing boom either. And this is a bad thing for Indiana how? What a novel concept that fiscal responsibilty and certainty in State government can lead to a more stable housing market and business climate. Compare just about any similar income town on either side of the border and you'll find the Cost of Living Index will be lower on the Indiana side. This takes housing costs, taxes, transportation, food, utilities, ect. all into consideration.
Maybe not a bad thing for indiana. And certainly not a bad thing for current indiana homeowners. But, also extremely low property taxes inflating home prices is not a good thing at all for a current homebuyer in the NWI housing market. There is always a positive and a negative to everything. In a market, a discount for one party will always lead to a premium paid by the other party. I just thought it was worth mentioning the fact that NWI home prices are currently above majority of comparable income southwest and south suburb's home prices that have property taxes in line with the rest of the chicagoland area.
Last edited by allen2323; 04-25-2011 at 01:50 PM..
A lot of this discussion is under the assumption that those living in NWI need to commute downtown into the loop daily. A vast majority either work in NWI or in Illinois outside of the downtown area. Are there some of us that work in the loop? Absolutely. Those of us that do that find ways to make it work, whether it be by train, carpool, etc. A lot of my neighbors and I that make the commute into the loop daily have a maximum 1 hour commute door to door, across many different methods of getting there. It's definitely possible. If 1 hour is too long for some people, then they won't move here. However, several people see the more reasonable cost of living with a comparable standard of living, and find it very inticing and potentially worthwhile for a bit longer of a commute.
So, to say that the the transit into the city isn't good enough only accounts for a small portion of residents. For those not working in the city that would still like the close proximity to Chicago during non-rush hours for pleasure, NWI to Chicago is a breeze.
Now, regarding the comment about working in Deerfield? No, I would never recommend anyone to live in NWI and work in Deerfield or elsewhere in the North Suburbs. That would just be crazy.
You also have to factor in more than just taxes in my opinion. The actual real estate prices in NWI (although they have increased significantly in the last 10-15 yrs, due in large part to people from Illinois crossing the border) are still lower than comparable suburbs in Illinois. This is aside from taxes. Also, those of us that have lived in Illinois and currently live in Indiana would probably vehemently dispute this claim that the taxes even out.
However, if you feel this way, please list out the taxes that one would be charged in both states so that there is support for your claim. I would hate to have someone read inaccurate information on these boards, so please itemize out all taxes or charges that you feel "even out" between the two states. Thank you.
First of all I am over in Indiana all the time I have nothing against the place at all. Heck my wife just had a surgery in Munster on Thursday and personall I make it over there all the time.
Its a task to go thru all the websites but from memory
the differences are.
Some counties most have a local tax CAGIT, or COIT . It is just like a tax that is eqivelant to state tax
The sales tax is comparable to Illinois in Will county
The vehicle tax or plate fees are really high from what a friend of mine who lives in sbend has told me. it is based on the age of your vehicle
I dont think your going to be pulling alot of people from Chicago as the area does not compete considering most of the residents live there because of jobs and the amenities. you will be pulling from areas like sauk village, crete, steger,lynwood, Lansing so therefore I would think the housing stock is probably higher than Illinois (in that area)
i am not knocking on Indiana I like it there I personally go there and shop there sometimes too.
Just want to make it clear its a great area. just yesterday I was looking at the development plan Munster has set forth .. I think its great
My wife goes over to stores in Highland quite often too
It is just equal to tell people to look at the entire tax structure. I am not moving so i am not going to pick all day thru websites.
but if someone is moving or involved with an agent that would be in their best interest.
Now that prices have come down in majority of middle class southern and southwestern suburbs. NWI just isn't any cheaper anymore. Not for comparable income suburbs. Maybe for lower income suburbs in NWI. But the same can be said for lower income chicagoland suburbs with cheaper housing cost. If you really compare median incomes of the south and southwest suburbs to the NWI towns with similar middle class median incomes. You will find that overall, home prices are currently lower on the illinois side by as much as 30 percent in some cases. The extremely low property taxes in NWI has meant far fewer foreclosures. Which has kept the market over inflated, clearly not near any bottom because middle class NWI towns are now more expensive than similar income chicagoland suburbs.
I contend that the extremely low property taxes in indiana has kept the housing market in northwest indiana over inflated. While home prices have actually come down considerably in similar income south and southwest chicago suburbs which have much higher property taxes. The extremely low property taxes in indiana have actually made the home prices more expensive during this downturn in housing, canceling out any savings for new homebuyers in NWI. While existing homeowners in NWI still enjoy the benefit of low property taxes, a new homebuyer will currently have to pay a premium to purchase a home with low property taxes in NWI. When comparing similar income chicagoland suburbs where a comparable home can currently be purchased at a considerable discount.
one other thing. I do consider it all one region anyway
to me there is not a difference between the states but an imaginary state line.
the people are the same, we share the same resources, we share the same news, we share the same roads etc.
I dont want this to turn into some border war because thats not what my object was to do and that is certainly not my view at all
Do I favor Illinois yes thats because its home so naturally i will defend
For your your poll? I would if needed to move choose Munster probably the older part with the brick homes north of Ridge Road.
Or even South Hammond hisorical neighborhood I like it over there is very quaint and very charming. I personally do not favor the new housing but the established neighborhoods.
I would not choose to live in Crown Point but that area is really nice too. I love the courthouse and the square that has the businesses around there..... I also think Cedar lake has some serious potential to be a very very nice spot for the region.
For the extra commute time its not worth it to me as you will waste it in fuel.
Everyone just needs to look at your total tax in Indiana plus other things in Indiana are higher like plating your vehicle...
Believe me the grass is not greener on the other side unless you have a job in Indiana and you do not commute to Chicago or the other burbs
Nothing against our neighbors across the border its just not that much lower
when you look at the big picture of everything . not just property tax but everything.
Yep, my point exactly. Great idea for some, but not practical for all. I still haven't figured out what's so special about NWI all the sudden? Not that's there's anything wrong with it, but why this sudden uptick in interest?
Yep, my point exactly. Great idea for some, but not practical for all. I still haven't figured out what's so special about NWI all the sudden? Not that's there's anything wrong with it, but why this sudden uptick in interest?
subject2change hit it right on saying that the whole matter is subject to one's individual circumstances. I think there are some generalities that can be made when it come to deciding whether to live in Illinois or Indiana: 1) If you are working in Indiana it is almost certain it will be cheaper to live there as well 2) If you are work in the south suburbs or south side of Chicago near the state line it is likely that living in Indiana will be cheaper overall than living in Illinois. 3) If one spouse works in Illinois and the other in Indiana (making about the same income) it will probably still be cheaper to live in Indiana than living somewhere in between in Illinois (I know this from personal experience) and 4) If you work north of I-55 or west of I-355 (for example) it could go either way and of course depends on many factors as do all my scenarios outlined. The farther north you work, the more it makes sense to live in Illinois. It's really hard to compare all the factors involved. If you live in Illinois and work a few minutes from your home then that can't be beat by living in Indiana. I guess this comparison is best suited for comparing the faster growing areas of Indiana (Schererville, Munster, Saint John) vs. the faster growing south suburbs of Illinois (Tinley Park, Frankfort, Mokena, ect.) The more scenarios you have the more it is like comparing apples to oranges.
Last edited by knighthood82; 04-25-2011 at 02:29 PM..
I dont think that anyone would still consider schererville and munster to be fast growing areas any longer. Considering all of the open farmland out there, growth in NWI has been quite anemic over the past decade. With the exception of saint john which grew by 77 percent. Which also happens to be the most desirable NWI town in my opinion. do to it's location nearer to the middle and high income far southern suburbs such as flossmoor, homewood, olympia fields, crete, monee, matteson, etc. Munster had less than a double digit gain in population at 9.7 percent over the past decade. And Schererville had a 17.7 percent population increase. And nearby illinois suburbs grew by much larger percents over the the past decade. Lynwood (22.1%), matteson (47%), monee (75.1%), crete (12.1%), frankfort (71.1), new lenox (37.3%), tinley park (17.2%), richton park (8.9%) .
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