Property Taxes and COVID-19 (Chicago: moving, best, average)

[MovingForward59]

Originally Posted by Hiruko

Not only have I lived in another state, but I have also lived in other countries. Illinois might not have the most efficient government or the cleanest politics. But, it does have so much to offer in so many other aspects.

Illinois is not one of those states caught 'unprepared.' Illinois has actually done a good job maintaining a lockdown to try to bend the curve. Illinois was unique in that it had actual infrastructure already in place to handle a pandemic. It has also had one of the most conservative approaches to reopening.

There is nothing 'unbearable’ about Illinois.



100%

There is a lot that is unbearable about Illinois. Its just not obvious to you yet but as things get worse you’ll catch on.
2nd you totally missed the point on my unprepared comment. Bending the curve is only a quarter of the battle. Salvaging the economy and not having the government go bankrupt from the pandemic with core services gutted is just as important as flattening the curve.

[Hiruko]

Originally Posted by MovingForward59

There is a lot that is unbearable about Illinois. Its just not obvious to you yet but as things get worse you’ll catch on.
2nd you totally missed the point on my unprepared comment. Bending the curve is only a quarter of the battle. Salvaging the economy and not having the government go bankrupt from the pandemic with core services gutted is just as important as flattening the curve.

What is getting worse? Illinois will be fine economically, just as the rest of the country will. Chicagoland is highly diversified and well-positioned in the global marketplace.

[wjj]

Originally Posted by tolovefromANFIELD

I've lived on four different continents. In US I've lived/own businesses in LA, Bay Area, Boston and Chicagoland. I've also stayed for nine to 20 weeks at a time in two dozen other locales for work in the US. I think Chicagoland offers by far the best value proposition. I think it's a world class city at affordable prices.

You, the gentleman from Lake Havasu, WJJ, are all retirees/soon to be retirees without school age kids (I assume). It is perfectly normal for you guys to care about and value different things in life than I do, or Hiruko, or Mykindoftown.

Why is it so hard for you guys to accept that? Is it really that difficult for you three to understand that we do see the drawbacks of living in Chicagoland and Illinois, yet we choose to live here because to us, the benefits outweigh the drawbacks?

I for one accept that people in different stages of their life and careers are going to value different things. My other home in FL where I am right now avoiding the ridiculous lock down in Lake County and the failing, incompetent governor, has everything I have in BG. It really is no different (other than the economy is open here and shut down in Illinois). Mostly Midwesterners getting out of their states that are getting more overbearing by the day. But, I would never move here with school aged kids unless I would go private. The public school systems in Lee and Collier Counties can't hold a candle to suburban Chicago schools. And I agree that if you are looking for a high paying job outside of the medical industry, there are not too many big companies HQed here other than the likes of Hertz, Gartner (not the HQ but the largest facilities), Chicos.



My point is that having lived in the area since the 1950s, I have seen the rise and fall of this area. And as a CPA with a long career in one of the biggest international financial firms in the world, I can clearly see the approaching disaster. One of my kids sees it too and is close to selling the house in BG and moving out of state (maybe to Florida). Her job is now fully work from wherever you are and she has been informed that it is going to stay that way and the HQ building is being shut down for good. She has come down here to work and kind of likes the idea. Most of the company execs are doing the same - working from second homes outside of Illinois. She is in finance too and sees the writing on the wall. A wake up call was when her RE taxes for the year exceeded her mortgage payment.


I really hope you younger guys will find a way to turn it around, but you're going to have to vote en masse with your wallets and not your emotions. That is the point I am trying to make. If I were in your shoes, I would move, but not to SWFL. Maybe around Nashville where other family has ended up after leaving Illionois. But if you want to fight the good fight and try to turn it around, I appaud you and wish you the best of luck. Just watch your wallet!

[tolovefromANFIELD]

Originally Posted by wjj

I for one accept that people in different stages of their life and careers are going to value different things. My other home in FL where I am right now avoiding the ridiculous lock down in Lake County and the failing, incompetent governor, has everything I have in BG. It really is no different (other than the economy is open here and shut down in Illinois). Mostly Midwesterners getting out of their states that are getting more overbearing by the day. But, I would never move here with school aged kids unless I would go private. The public school systems in Lee and Collier Counties can't hold a candle to suburban Chicago schools. And I agree that if you are looking for a high paying job outside of the medical industry, there are not too many big companies HQed here other than the likes of Hertz, Gartner (not the HQ but the largest facilities), Chicos.



My point is that having lived in the area since the 1950s, I have seen the rise and fall of this area. And as a CPA with a long career in one of the biggest international financial firms in the world, I can clearly see the approaching disaster. One of my kids sees it too and is close to selling the house in BG and moving out of state (maybe to Florida). Her job is now fully work from wherever you are and she has been informed that it is going to stay that way and the HQ building is being shut down for good. She has come down here to work and kind of likes the idea. Most of the company execs are doing the same - working from second homes outside of Illinois. She is in finance too and sees the writing on the wall. A wake up call was when her RE taxes for the year exceeded her mortgage payment.


I really hope you younger guys will find a way to turn it around, but you're going to have to vote en masse with your wallets and not your emotions. That is the point I am trying to make. If I were in your shoes, I would move, but not to SWFL. Maybe around Nashville where other family has ended up after leaving Illionois. But if you want to fight the good fight and try to turn it around, I appaud you and wish you the best of luck. Just watch your wallet!

I've looked at leaving/have left Chicagoland few times. Both our families are within 15 minutes. While I don't travel for work as often as I used, I still do more than the average person, having O'Hare and Midway is a big plus. HS where one of my kids is in and all my kids will attend is one of the best in the state and he loves it there, or did love it there while he attended before this nonsense. Those are all big anchors for us.

Illinois has been on rough footing for a while, but it really doesn't affect our day-to-day. I don't draw public pension, or any kind of public assistance. Therefore, it just isn't an issue....at this moment.

[MovingForward59]

Originally Posted by tolovefromANFIELD

I've looked at leaving/have left Chicagoland few times. Both our families are within 15 minutes. While I don't travel for work as often as I used, I still do more than the average person, having O'Hare and Midway is a big plus. HS where one of my kids is in and all my kids will attend is one of the best in the state and he loves it there, or did love it there while he attended before this nonsense. Those are all big anchors for us.

Illinois has been on rough footing for a while, but it really doesn't affect our day-to-day. I don't draw public pension, or any kind of public assistance. Therefore, it just isn't an issue....at this moment.

Yet...........
Lets see what you say a year from now when the covid-19 dust settles.

[Grlzrl]

Originally Posted by MovingForward59

Have you lived in other states?
If not then you do not genuinely know that. You are only assuming.
In the 6 states I’ve lived in Illinois is behind by far. With this pandemic really exposing how weak and unprepared some states are you have to have your head deep in the sand to not see it.
Living in denial only works until the pain of reality is unbearable.

I have lived in 6 states and I agree.

[Al Hung]

I think that there is a lot of value in having an evidence-based discussion about the financial outlook of this state, as compared to a person's prospects in other states. Especially for folks looking to decide where they want to set down roots and may be on the fence about Illinois.

So a question for those who believe that the state can not only survive it's financial situation + Covid-19 aftermath, but actually be a desirable place to raise a family and earn a living for years to come: What makes you confident in this? Specifically, consider this for someone that realistically has more at stake (and potentially more to contribute) in the decision to stay out go as compared to a retiree.

This past RE bill was the last straw for my wife and I. We are prepping our house for sale, and contemplating moving our family and my business out of state in 2021. I enjoy living here for all the reasons already given, but I'm ready to move for the same. In my reading and asking around, I've yet to see a plausible solution to the state's budget problems that does not result in significant financial hardships for it's taxpayers. But if there's a better path forward that could conceivably allow my family and business to remain in state without bleeding both dry, I'd like to hear it. Preferably very soon as the painters are literally coming next week.

[MovingForward59]

Originally Posted by Al Hung

I think that there is a lot of value in having an evidence-based discussion about the financial outlook of this state, as compared to a person's prospects in other states. Especially for folks looking to decide where they want to set down roots and may be on the fence about Illinois.

So a question for those who believe that the state can not only survive it's financial situation + Covid-19 aftermath, but actually be a desirable place to raise a family and earn a living for years to come: What makes you confident in this? Specifically, consider this for someone that realistically has more at stake (and potentially more to contribute) in the decision to stay out go as compared to a retiree.

This past RE bill was the last straw for my wife and I. We are prepping our house for sale, and contemplating moving our family and my business out of state in 2021. I enjoy living here for all the reasons already given, but I'm ready to move for the same. In my reading and asking around, I've yet to see a plausible solution to the state's budget problems that does not result in significant financial hardships for it's taxpayers. But if there's a better path forward that could conceivably allow my family and business to remain in state without bleeding both dry, I'd like to hear it. Preferably very soon as the painters are literally coming next week.

Our family has been doing the same. We’ve been scouting prospective homes in northwest Indiana, Fort Wayne & Indianapolis for the past 3 months. My wife is leaning towards Indy herself and we plan to put our home for sale in the fall. Indiana’s property tax cap and better fiscal position are very appealing to us especially as we get close to retirement.