Where Cook Co. residents come from (Chicago, Westmont: transplants, insurance, movers)
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That's because they get you with the 10.25% sales tax you know tax 1, tax 2, tax 3 listed on your receipt everytime you purchase something? I left Chicago 2 decades ago and Cook County 5 years ago and am a happy homeowner in DuPage county. While I work downtown, I don't buy anything while there. The tax is outrages.
Chicago has lower property taxes because the lots are small to non-existent. Suburban Cook County is raped annually to make up the shortfall though.
Chicago has low property taxes because of the (still) huge amount of industrial and office real estate which is taxed at a higher rate than residential property. The property taxes would be even lower if it weren't for the TIFs sucking away money into blackhole slush funds. I don't know about DuPage, but I know Kane county property taxes are quite high as well.
BTW, I did a quick scan of zillow comparing my suburban Cook house in Oak Park (a town not known for low taxes) with the relatively comparable town of Elmhurst (in DuPage county). The property taxes for comparable houses are actually pretty close to what we pay (maybe 10-15% cheaper) which is a little bit surprising to me. Granted I only spent about 10 minutes, so my sample size is small, but I don't see any comparable houses with half the tax bill than we pay.
I doubt that. Who in their right mind would move from DuPage county where taxes are very reasonable in comparison to Cook County (especially Chicago) which has driven Illinois into bankruptcy?
I personally have known 2 people who moved from DuPage to Cook.
Chicago has low property taxes because of the (still) huge amount of industrial and office real estate which is taxed at a higher rate than residential property. The property taxes would be even lower if it weren't for the TIFs sucking away money into blackhole slush funds. I don't know about DuPage, but I know Kane county property taxes are quite high as well.
Chicago is losing a lot of businesses as a result of their greed and excessive need. Many corporations have moved to Naperville, Oakbrook and the NW burbs. Other than that ITA. Add Will county to the list of sky high property taxes.
Chicago is losing a lot of businesses as a result of their greed and excessive need. Many corporations have moved to Naperville, Oakbrook and the NW burbs. Other than that ITA. Add Will county to the list of sky high property taxes.
And yet many companies still choose to relocate headquarters or operations in the city of Chicago. In just the past few years, United Airlines, Boeing, BP, and MillerCoors have moved or announced moves into the Loop from the burbs or out of state. These are just a few large companies that I can name off the top of my head. Office vacancy levels in the Loop are lower than in the suburban office parks. Despite the high costs, there are plenty of businesses that still feel the benefits of being in Chicago outweigh the negatives. Obviously, this will be good for the city of Chicago's (and Cook county's) tax base.
Over time, I predict the benefits of the Loop CBD will continue to expand relative to those of the suburban office parks. Given the level of corruption in the city, these economic gains are even more remarkable.
Chic is one of best bargains in US, esp considering high QOL, well-balanced regional economy and choice of various superb suburban areas...
Only comparable regions are NYC/SF/LA....IL has notably lower state income tax...and housing in best parts of Chic/NS is some ?30%+ cheaper than similar apts/houses in NYC/SF/LA....
Suspect the high-income financial industry (which is almost exclusively around the Loop) keeps many younger people in City, until they consider suburban life post-marriage and kids....and City attracts many affluent empty-nesters from suburbs back....
Will be interesting to see what today's younger affluent families who prefer LincPk living opt for when debating costs of pvt schools vs high-caliber public schools in affluent suburban areas....
And yet many companies still choose to relocate headquarters or operations in the city of Chicago. In just the past few years, United Airlines, Boeing, BP, and MillerCoors have moved or announced moves into the Loop from the burbs or out of state. These are just a few large companies that I can name off the top of my head. Office vacancy levels in the Loop are lower than in the suburban office parks. Despite the high costs, there are plenty of businesses that still feel the benefits of being in Chicago outweigh the negatives. Obviously, this will be good for the city of Chicago's (and Cook county's) tax base.
Over time, I predict the benefits of the Loop CBD will continue to expand relative to those of the suburban office parks. Given the level of corruption in the city, these economic gains are even more remarkable.
If they don't get the gangs and soaring murder rate under control, along with the corruption and looting of the tax payers' coffers, I see a down turn in the desirability of Chicago as a place to do business. Remember the 80's? It could very well happen again.
On another front: I also see the hispanics that he empowered putting an end to the Daley dynasty.
If they don't get the gangs and soaring murder rate under control, along with the corruption and looting of the tax payers' coffers, I see a down turn in the desirability of Chicago as a place to do business. Remember the 80's? It could very well happen again.
On another front: I also see the hispanics that he empowered putting an end to the Daley dynasty.
Your point might have a shred of credibility if the suburbs were not choking in traffic.
Traffic is killing any hope of further growth, and until you suburbanites get a clue and get a handle on it, you won't be seeing anything even remotely resembling the growth that occurred in the 70's and early 80's when places like Schaumburg and Oak Brook became the business centers that they are today.
What you ARE going to see is more of the warehouse and light manuacturing Bolingbrook-style growth, which is the kind that will attract low income working class people. So enjoy your middle class utopia while it lasts, because unless you live near a Metra station where white collar workers can get to he Loop, you'd better get yourself a Spanish or Polish dictionary.
Your point might have a shred of credibility if the suburbs were not choking in traffic.
Traffic is killing any hope of further growth, and until you suburbanites get a clue and get a handle on it, you won't be seeing anything even remotely resembling the growth that occurred in the 70's and early 80's when places like Schaumburg and Oak Brook became the business centers that they are today.
What you ARE going to see is more of the warehouse and light manuacturing Bolingbrook-style growth, which is the kind that will attract low income working class people. So enjoy your middle class utopia while it lasts, because unless you live near a Metra station where white collar workers can get to he Loop, you'd better get yourself a Spanish or Polish dictionary.
Speaking of credibility and congestion: Chicago is not exactly congestion free and it's an illegal alien haven with massive corruption, budget and transportation problems to boot. As for your concept of what suburban growth may look like in the future, that's total speculation on your part with absolutely nothing to back it up. Thanks primarily to Chicago, Cook County and the rest of Illinois currently sits on the verge of bankruptcy with no honor amongst its thieves. That being said:
I live in Westmont which is an older (upper "middle class Utopia")(grafitti and gang free), with a balanced budget, politicians who work together for the good of the community, stable population and right next door to Hinsdale. Traffic congestion is virtually non-existent and I am 25 minutes from the loop via Metra, walking distance to Metra, excellent schools, 7.25% sales tax and more than fair value property taxes and excellent services. Nobody's trying to deannex from DuPage County. Unfortunate, the same cannot be said about Cook County thanks to the legacy of corruption that perpetually plagues Chicago.
I got no complaints and am happier than I ever was living in Beirut by the Lake (aka Chicago)
Last edited by JDubsMom; 08-02-2008 at 07:50 AM..
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