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Old 02-05-2010, 10:33 PM
 
Location: Not where you ever lived
11,535 posts, read 30,113,735 times
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The state sets the county tax rate. The County Assessor collects it. The Schools keep their money. The State and feds make up the difference betweeen what the county collects and what the school district is entitled to based on a number of factors including number of students and number of entitlement programs. Schools located in poor counties receive more federal and state funding than schools located in wealthy counties. One expample of the difference is between Will County and its neighbor Kankakee County.
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Old 02-06-2010, 06:39 AM
 
Location: Portland OR
2,646 posts, read 3,823,015 times
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Quote:
Originally Posted by Owensmomma View Post
....how long before they fix the system? We got tired of waiting. We left IL in 2007 and now rent in WI while we watch house prices drop. Sure don't miss getting that property tax bill! It had just hit $6000 when we left.
Your rent is probably paying a much higher tax rate in WI than in IL.
We lived in in WI for 25 years, owning 4 different homes. IL people don't have it near as bad as WI people.
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Old 02-06-2010, 12:25 PM
 
Location: Barrington
63,919 posts, read 46,459,926 times
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Quote:
Originally Posted by Owensmomma View Post
....how long before they fix the system? We got tired of waiting. We left IL in 2007 and now rent in WI while we watch house prices drop. Sure don't miss getting that property tax bill! It had just hit $6000 when we left.
"Them versus us" is why systems are perpetuated.
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Old 02-06-2010, 02:51 PM
 
Location: OKLAHOMA
1,789 posts, read 4,323,186 times
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I am figuring on a 1000 per 100 thousand dollar house. So., 12 years ago I sold a home for 250thousand (now work at least 400,000) and paid 2500 a year in taxes. Here in OK, my property (home on 300 acres) is higher in price but I pay 1000 per year. Probably because it is a ranch and I get a raw land discount BUT to buy back my old home I would probably being paying 8000.00 a year. That is darn high I think. Like 650.+ a month before your higher ultility costs. I wish I didn't love the area but where I am at isn't too bad either so I am weighing cost of living in retirment in a few years. Why is it so much less to send a kid to school in other states. When I lived there I homeschooled my kids because I didn't think the school was that hot!
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Old 02-06-2010, 03:18 PM
 
Location: Not where you ever lived
11,535 posts, read 30,113,735 times
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I will only disagree with you on this point, what you say is not what my County Tax Assessor said.


Quote:
Originally Posted by prideful1 View Post
The state has absolutely nothing to do with real estate taxes.
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Old 02-06-2010, 08:33 PM
 
28,107 posts, read 63,405,895 times
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Quote:
Originally Posted by prideful1 View Post
The state in no way, shape or form sets the county tax rate . Schools set their rate, fire depts set their rate, same with libraries, cities etc.
I think people forget that taxation varies from State to State... in some States the State does set a Statewide Property Tax Rate... as California does with Prop 13's 1% rate.
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Old 02-07-2010, 08:56 AM
 
174 posts, read 369,668 times
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Quote:
Originally Posted by prideful1 View Post
In Kankakee county, our house is worth around $150K and we pay $3200 in property taxes.
That about the state average. It does'nt change, it's about the same in small towns also.I've had my nose in real estate book checking this out from one end of the state to the other. In most cases it runs about 2000 to2400 per 100,000. The only differevce is a house in a smaller town may not apraise for as much. This is the only thing that would make a difference, because you are taxed on fair market value. That's another topic for another time. The other state I live in had county school at the high school level in stead of every little town having it own. Don't get me wrong, little schools are great. But the system paying for it has to work. Ive been a empty nester for a while and still help pay for this system, And it is right that I have to. What is'nt right is for this system to force me out of my home when I retire.
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Old 02-07-2010, 09:03 AM
 
174 posts, read 369,668 times
Reputation: 156
Quote:
Originally Posted by prideful1 View Post
The state in no way, shape or form sets the county tax rate . Schools set their rate, fire depts set their rate, same with libraries, cities etc.
You are correct. When they hold these meeting to set the rate each year every tax payer should attend and things would turn out different. there would be more accountabity.
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Old 02-07-2010, 11:23 AM
 
174 posts, read 369,668 times
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That is why school taxes should not be balanced on the back of real estate. Most other state do it with income tax, and sales tax,and the the balance from real estate taxes.
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Old 02-07-2010, 12:35 PM
 
16,361 posts, read 30,070,493 times
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I cannot speak for EVERY county but McHenry County breaks out ALL of the taxing entities separately so that you know where the money is going.

A SIGNIFICANT portion goes for pension costs and those costs are just going to increase exponentially in the coming years. Until that issue is addressed, you will see a very significant increases in property taxes.
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