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Old 11-08-2017, 05:29 PM
 
983 posts, read 845,910 times
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Quote:
Originally Posted by CGab View Post
Just wanted to also add that according to City data, the median home price in the city of Chicago in 2015 was $238k, but that didn’t deter people from buying a million dollar home on the North side or in the Gold Coast. Or not buying in good areas of Chicago because of the bad areas. Same can be said elsewhere.
Not a great comparison. Chicago population is 2.7MM whereas Saint John is less than 20k. The population of the Gold Coast by itself is in excess of 60k. Also, worth noting that areas like the Gold Coast were some of the hardest hit by the Great Recession.
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Old 11-08-2017, 05:51 PM
 
74 posts, read 99,356 times
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It won’t effect Illinois as much as say NY, CA, etc because:

1) Illinois income tax is on the lower end;thus, high income tax states will be effected more if state income taxes are not deductible
2) Property taxes appear at this point allowed as a deduction up to $10k. Plenty of suburbs to choose from with property taxes under this amount
3) There are plenty of options for homebuyers with 20% down and up to $500k loan unlike places like California, NY and DC
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Old 11-08-2017, 07:08 PM
 
835 posts, read 445,439 times
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Quote:
Originally Posted by CGab View Post
That is very true! When I lived in Plainfield I was one block away from Naperville and home values were around $500-$800k. Their property tax bills were $15-$20k and they were not even million dollar homes! Now one can argue if they can afford a home that much they can afford the property taxes, but at some point I would think one would consider that $15-$20k is an insane amount and you can live elsewhere with lower COL and put that money to better use such as retirement, etc. We now live in St. John Indiana. Most of the newer homes here start at $400k and many over a million. A million dollar home here would have property taxes just under $10k as property taxes are capped at 1% of homes assessed value. And we're only 35 miles away from downtown Chicago. Illinois can’t afford to lower taxes of any kind. Their financial situation is beyond that.

Most areas near St. John are NOT sketchy, far from it!
I'm calling you out on this. There are no 800k homes a block from Plainfield. And I'd be very suprised if any were 500k! If I had to guess, you are talking about an area south of 111th and on or near rt. 59.
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Old 11-08-2017, 09:21 PM
 
Location: Saint John, IN
11,081 posts, read 4,305,057 times
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Quote:
Originally Posted by Liledgy View Post
I'm calling you out on this. There are no 800k homes a block from Plainfield. And I'd be very suprised if any were 500k! If I had to guess, you are talking about an area south of 111th and on or near rt. 59.


WOW, you should really check your facts before "calling someone out" on their post!

Ashwood Park and Ashwood Creek in Naperville are a block from Plainfield. Yes, near 111th. Homes there sell for $700k-over a million. Here's a few that sold recently with property taxes also over $21k.


https://www.homesbymarco.com/propert...ville_il_60564


https://www.homesbymarco.com/propert...ville_il_60564


https://www.homesbymarco.com/propert...ville_il_60564




Another subdivision a block from Plainfield is South Pointe in Naperville (111th & Rt 59). Again, homes there typically sell for over $500k. My home in Plainfield within blocks of these subdivision sold for $400K in the summer of 2016 and our taxes were almost $11k.


https://www.homesbymarco.com/propert...ville_il_60564


https://www.homesbymarco.com/propert...ville_il_60564

Last edited by CGab; 11-08-2017 at 09:32 PM..
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