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Old 05-22-2019, 02:08 PM
 
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I am looking at houses for sale online and it seems that the property taxes in Deerfield might be higher than in Highland Park and other nearby towns. Does anyone know from actual experience what percentage of purchase price to expect for property taxes in Deerfield (i.e. 2.25%?). Thank you.
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Old 05-22-2019, 02:13 PM
 
Location: Evanston, Lake Forest, and Wrigleyville, Illinois
2,517 posts, read 1,608,776 times
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Quote:
Originally Posted by CatsDogsSun View Post
I am looking at houses for sale online and it seems that the property taxes in Deerfield might be higher than in Highland Park and other nearby towns. Does anyone know from actual experience what percentage of purchase price to expect for property taxes in Deerfield (i.e. 2.25%?). Thank you.
The data is becoming dated, but as of 2015, the effective rate in Deerfield was 2.98% for residential properties. In Highland Park, it was 2.71%. Deerfield and Highland Park have the highest effective rates among affluent North Shore suburbs. Property values are pretty flat here, so the numbers are still very accurate based on what I see in the marketplace.

CHICAGO TRIBUNE: Look up your effective property tax rate (database)
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Old 05-23-2019, 07:49 AM
 
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Default Thank you

Thank you, that was helpful.
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Old 05-23-2019, 08:41 AM
wjj
 
796 posts, read 919,662 times
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Quote:
Originally Posted by Hiruko View Post
The data is becoming dated, but as of 2015, the effective rate in Deerfield was 2.98% for residential properties. In Highland Park, it was 2.71%. Deerfield and Highland Park have the highest effective rates among affluent North Shore suburbs. Property values are pretty flat here, so the numbers are still very accurate based on what I see in the marketplace.

CHICAGO TRIBUNE: Look up your effective property tax rate (database)

The fact that prices are flat does not mean that RE taxes (and rates), have not increased. We have seen that in Buffalo Grove in spades - RE taxes keep relentlessly increasing while property values have declined, or at best, are flat. I would not be surprised if Deerfield is experiencing the same phenomena. The main driver of the increases is the same in both Lake County communities. Excellent schools that are not shy about continuing to raise their rates. At least that is the case with Districts 125, 96, 102 and 103 (Stevenson and its major feeders).
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Old 05-23-2019, 09:30 AM
 
Location: broke leftist craphole Illizuela
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Or the fact that just because the real market value of your house and declined or stagnated doesn't mean the county assessor isn't going to claim your house's market value has increased. Most county assessments have nothing to do with the real market value of the house. That is how property taxes in Illinois work. The government decides how much money they want and just play with all the numbers, assessments, multipliers, rates etc to get it.
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Old 05-23-2019, 03:37 PM
wjj
 
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Originally Posted by MSchemist80 View Post
Or the fact that just because the real market value of your house and declined or stagnated doesn't mean the county assessor isn't going to claim your house's market value has increased. Most county assessments have nothing to do with the real market value of the house. That is how property taxes in Illinois work. The government decides how much money they want and just play with all the numbers, assessments, multipliers, rates etc to get it.

In my case (and my neighbors) that is not true. The assessed valuation on my home from the Lake County Assessor is now at the same level it was at in 2004 while during that same time frame, my actual taxes increased 49%. Same assessed valuation in 2004 and 2017 but RE taxes 49% higher in 2017 (paid in 2018) and so to is the rate. From 2008 through 2014 my assessed valuation plunged 24.5% while my real estate taxes increased every single year, supercharging the rate! The real estate tax increases were due almost entirely to the school districts cranking up their assessment each year to overcome the decrease in assessed valuations with an increase added on top. The various school districts and their pension funds are 76% of my total tax bill. Most of the rest of the governmental units assessing RE taxes have been far more restrained in their assessments than the schools - including the Village of BG which has been very well managed.
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Old 05-23-2019, 03:57 PM
 
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Hearing about homeowners' taxes increasing so much while the market values are down or at best flat is sobering. I thought it was just the pensions causing this problem but it sounds like it is also the public schools. I think it is unfair to charge all homeowners so much when they may not have children or do not have children who go to public school.
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Old 05-23-2019, 06:47 PM
 
Location: Evanston, Lake Forest, and Wrigleyville, Illinois
2,517 posts, read 1,608,776 times
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Quote:
Originally Posted by CatsDogsSun View Post
Hearing about homeowners' taxes increasing so much while the market values are down or at best flat is sobering. I thought it was just the pensions causing this problem but it sounds like it is also the public schools. I think it is unfair to charge all homeowners so much when they may not have children or do not have children who go to public school.
Everyone benefits from children getting a quality public education, whether or not they have a direct connection to the public schools or not. Even so, the effective rates in good school districts tend to be lower than those in lower-performing ones...
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Old 05-24-2019, 07:18 AM
 
Location: broke leftist craphole Illizuela
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There are 852 school districts in Illinois each with high paid administrators with fat pensions and other benefits. That is the biggest problem. The inefficiency of Illinois govt and the pensions.
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Old 05-24-2019, 09:15 AM
wjj
 
796 posts, read 919,662 times
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Originally Posted by MSchemist80 View Post
There are 852 school districts in Illinois each with high paid administrators with fat pensions and other benefits. That is the biggest problem. The inefficiency of Illinois govt and the pensions.

You hit the nail on the head.


There are a mind-boggling number of government units in Illinois that should be merged to eliminate all of the unnecessary overhead. As for schools, there seems to be some low hanging fruit. For example, District 125 (Stevenson) and District 128 (Libertyville and Vernon Hills) are very similar in achievement and are geographically near one another (Stevenson is less than a mile from Vernon Hills). Why could they not merge into a single HS district? What about Lake Zurich and Mundelein (I know LZ is a unit district and this would be tougher to do)? Or maybe go the LZ and Barrington route and form more unit districts - e.g., combine 96, 102, and 103 with Stevenson 125? There would be big savings from eliminating all of the redundant administration. But I am sure the various unions would stand in the way to protect their turf.
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