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Unread 06-26-2011, 09:52 PM
 
Location: Atlanta Area
89 posts, read 34,992 times
Reputation: 59
Default Property Taxes in Mokena?

Was considering a move back to the Chicago area and found a nice home sitting on 1 acre in Mokena. However, the ad says the property taxes are $18K per year?!?! Is that right? If so, who in their right mind would pay that amount in property tax? I have a similar home in a great area here in the Atlanta burbs and I pay around $6K per year. Please tell me this was a typo so I don't have to go hunting in NW Indiana?
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Unread 06-27-2011, 12:56 AM
 
10,064 posts, read 4,016,967 times
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With an acre of land and depending on the size/value of the house that could be in the realm of reality. Property taxes in the chicagoland area are significantly higher than they are in the south.
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Unread 06-27-2011, 05:34 AM
 
16,402 posts, read 21,026,927 times
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I believe Georgia has an entirely different system of local taxes. Illinois relies on local property tax to fund most non-state wide levels of government. Our income tax is relatively low but does little to support schools, parks, police, fire protection, waste water treatment, county jails, zoning enforcement etc...
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Unread 06-27-2011, 05:54 AM
 
Location: Atlanta Area
89 posts, read 34,992 times
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OK, but then why are the taxes on a similar home in NW Indiana also around $6K per year? Their State income tax is only .4% higher than Illinois. Looks like my plates will have to read "Indiana".



State Tax Rate Brackets


Georgia 1.0 - 6.0% 6 $750 - 7,000 Hawaii 1.4 – 11.0% 12 $2,400 - 200,001 Idaho 1.6 - 7.8% 8 $1,320 - 26,418 Illinois 3.0% 1 Flat Rate Indiana 3.4% 1 Flat Rate
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Unread 06-28-2011, 04:06 AM
 
Location: Chicago, IL SouthWest Suburbs
3,531 posts, read 1,744,228 times
Reputation: 6058
Quote:
Originally Posted by flamadiddle View Post
OK, but then why are the taxes on a similar home in NW Indiana also around $6K per year? Their State income tax is only .4% higher than Illinois. Looks like my plates will have to read "Indiana".



State Tax Rate Brackets


Georgia 1.0 - 6.0% 6 $750 - 7,000 Hawaii 1.4 – 11.0% 12 $2,400 - 200,001 Idaho 1.6 - 7.8% 8 $1,320 - 26,418 Illinois 3.0% 1 Flat Rate Indiana 3.4% 1 Flat Rate
Do you have the PIN to the address?
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Unread 06-28-2011, 12:59 PM
 
Location: North Atlantic
355 posts, read 346,090 times
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Quote:
Originally Posted by flamadiddle View Post
OK, but then why are the taxes on a similar home in NW Indiana also around $6K per year? Their State income tax is only .4% higher than Illinois. Looks like my plates will have to read "Indiana".



State Tax Rate Brackets


Georgia 1.0 - 6.0% 6 $750 - 7,000 Hawaii 1.4 – 11.0% 12 $2,400 - 200,001 Idaho 1.6 - 7.8% 8 $1,320 - 26,418 Illinois 3.0% 1 Flat Rate Indiana 3.4% 1 Flat Rate
You're comparing apples to oranges. Income tax is not Property tax.
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Unread 06-28-2011, 03:43 PM
 
Location: Not where you ever lived
9,257 posts, read 9,460,905 times
Reputation: 4296
IL Real Estate tax is different in each city and county. It primarily supports K-12 schools and community college, city hospital, fire, police, EMT, sewer and water, waste, plus city public areas such as streets, sidewalks and parks. In some cities*if*your property faces a park, a park tax is included in the tax bill.

County real estate taxes are lower.than city real estate taxes.

Last edited by linicx; 06-28-2011 at 03:52 PM..
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Unread 06-28-2011, 05:31 PM
 
Location: Atlanta Area
89 posts, read 34,992 times
Reputation: 59
Here's the link > http://tinyurl.com/5sq9pw4 (broken link)

21418 Sage Brush Lane Mokena, IL 60448


Look under the "Property History" Tab.
oddly, just the other day it listed the property taxes a hair over $18K, but now they're just under $18K. What a deal!

Just don't know how anyone could justify that kind of tax rate?

*For comparison, here's a similar home in Valparaiso, IN and the taxes are only $4K per year? In 10 years, that's a $140K extra in my pocket, not including interest.

http://www.realtor.com/realestateand...3_M44487-17647

Last edited by flamadiddle; 06-28-2011 at 06:09 PM..
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Unread 06-28-2011, 05:50 PM
 
Location: Not where you ever lived
9,257 posts, read 9,460,905 times
Reputation: 4296
You need to understand on what taxes are assessed. The number of rooms and bathrooms, 4 car garage, fireplace, full finished basement, 4,502 sq feet of house, 1 acre of land, and the age of the property. There is a lot of eye candy in this house; it may well be the builder's "Model display home".I would not be surprised.

Is it owner occupied or empty?

Last edited by linicx; 06-28-2011 at 05:59 PM..
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Unread 06-28-2011, 07:59 PM
 
Location: Chicago, IL SouthWest Suburbs
3,531 posts, read 1,744,228 times
Reputation: 6058
Quote:
Originally Posted by flamadiddle View Post
Here's the link > 21418 Sage Brush Ln Mokena IL - Home For Sale and Real Estate Listing - MLS #07842337 - Realtor.com® (http://tinyurl.com/5sq9pw4 - broken link)

21418 Sage Brush Lane Mokena, IL 60448


Look under the "Property History" Tab.
oddly, just the other day it listed the property taxes a hair over $18K, but now they're just under $18K. What a deal!

Just don't know how anyone could justify that kind of tax rate?

*For comparison, here's a similar home in Valparaiso, IN and the taxes are only $4K per year? In 10 years, that's a $140K extra in my pocket, not including interest.

909 Crabapple Ln Valparaiso IN - Home For Sale and Real Estate Listing - MLS #280973 - Realtor.com®
Ask your realtor could be inaccurate or it was zoned different, who knows
that seems high for Mokena
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