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Old 08-25-2014, 03:15 PM
 
1 posts, read 1,467 times
Reputation: 10

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I know this is a long shot but these are the tax rates for homeowners within School District 73.5 (Skokie) for the last five years.

Does anyone know if these year over year increases are short term and if so what is driving the raises?

Year Tax Rate % Inc from Previous Year

2009 .08166 4%
2010 .09164 12%
2011 .10412 14%
2012 .11670 12%
2013 .13387 15%

Last edited by tim60606; 08-25-2014 at 03:20 PM.. Reason: formatting
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Old 08-25-2014, 03:26 PM
 
11,975 posts, read 31,789,833 times
Reputation: 4644
Probably due to reduced housing values during the recession. They still need the same amount (or more) money to run the schools and local governments, so they may have raised the rate to adjust for reduced revenue? Just a guess--I'm not familiar with the workings of that specific district.

Property tax increases are never short term.
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Old 08-26-2014, 02:22 PM
 
Location: Roselle, IL
223 posts, read 757,658 times
Reputation: 77
Quote:
Originally Posted by tim60606 View Post
I know this is a long shot but these are the tax rates for homeowners within School District 73.5 (Skokie) for the last five years.

Does anyone know if these year over year increases are short term and if so what is driving the raises?

Year Tax Rate % Inc from Previous Year

2009 .08166 4%
2010 .09164 12%
2011 .10412 14%
2012 .11670 12%
2013 .13387 15%
Wow a.. 13% Tax rate? That's really high...

Like LookoutKid mentions, this is likely due to declining house values. I posted a similar thread for Geneva not so long ago. Like they say misery likes company, if it makes you feel better Kane County/Geneva (also a top school district) had very steep rate increases, although we are not in the double digits tax rate... yet...

Year Tax Rate (Percent) % Increase from previous Year
2009 7.09 2.7%
2010 7.72 8.8%
2011 8.39 8.6%
2012 8.92 6.3%
2013 9.50 6.5%
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