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Old 08-27-2008, 11:12 AM
 
Location: Chicago, Tri-Taylor
5,014 posts, read 9,424,987 times
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Quote:
Originally Posted by jdiddy View Post
If I were paying the property taxes, I'd expect some due diligence from the district on par with what appears they were doing. At the same time, I can't imagine expressing too much outrage that a few West Side families can find a way around this in order to get their children a superior education.
I live in an inner-ring ‘burb and we have this issue too. Residents have really been pushing the school districts to fight this vigorously, and they are, as much as their already limited resources will allow. It’s harder to police this stuff than you may think, and it’s full of legal land mines too. And unless you’re all over it all the time, it’s like weeds. You can pull them out but they’re back in a few days. It’s an expensive and ongoing battle that most residents of these communities, myself admittedly included, see as a real problem. And yes, they express outrage over it. It seems very unfair.

[mod cut]

Last edited by aragx6; 08-27-2008 at 01:28 PM.. Reason: Keep it directly related to this thread or take it to P&C
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Old 08-27-2008, 11:13 AM
 
4,183 posts, read 6,512,952 times
Reputation: 1734
In 1999, the median value of an Oak Park house was 170K. Today, it's 340K according to this Oak Park, IL Real Estate on Yahoo! Real Estate - Houses for Sale & more

That's an annual rate of appreciation of 7.2% over 10 years. That's higher than the CPI, and certainly higher than the property tax rates in Oak Park. That's also better than the performance of the stock market (specifically the S&P 500 which has been flat for 10 years).
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Old 08-27-2008, 11:34 AM
 
Location: Oak Park, IL
5,523 posts, read 13,918,457 times
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Quote:
Originally Posted by ndfmnlf View Post
In 1999, the median value of an Oak Park house was 170K. Today, it's 340K according to this Oak Park, IL Real Estate on Yahoo! Real Estate - Houses for Sale & more

That's an annual rate of appreciation of 7.2% over 10 years. That's higher than the CPI, and certainly higher than the property tax rates in Oak Park. That's also better than the performance of the stock market (specifically the S&P 500 which has been flat for 10 years).
Just because property values double is not per se an adequate rationale for the tax levy to double. Property values are undoubtedly falling now. Does that mean the levy will decrease? Of course not. The mill rate will simply increase to compensate. People want to feel they are getting value for their increased tax dollars. I don't know the answer to this question. I haven't lived in OP long enough to have an informed opinion.

I am sympathetic to the argument (in favor of high taxes) that without good schools, Oak Park is nothing. On the other hand, I feel for long-time residents who can't afford to live here anymore.
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Old 08-27-2008, 11:36 AM
 
Location: Oak Park, IL
5,523 posts, read 13,918,457 times
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Quote:
Originally Posted by ndfmnlf View Post
Just as an analogy, let's look at our federal taxes. Where do our federal taxes go? According to this:Where Do Our Federal Tax Dollars Go? 22% goes to defense, 21% goes to social security, 21% to Medicare/Medicaid/SCHIP. Those are the top three expenditures of the federal government. While one can argue that we all benefit from defense spending, taxpayers who are not of medicare or social security age will complain that they are paying taxes for things that really don't benefit from. Young working taxpayers feel that they are being fleeced by the system. Their tax money goes to support other people. How different is this from the argument that property taxes in Oak Park benefit those who don't pay into the system?
Well for one thing, residents of Chicago aren't legally entitled to an education in the OP school system. Its kinda like me, perfectly able bodied adult, claiming I need SS disability benefits
.
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Old 08-27-2008, 11:37 AM
 
4,183 posts, read 6,512,952 times
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Quote:
Just because property values double is not per se an adequate rationale for the tax levy to double. Property values are undoubtedly falling now. Does that mean the levy will decrease? Of course not.
You can appeal your tax assessment if your property has decreased in value. I have done this a couple of times in the past and have succeeded.
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Old 08-27-2008, 11:41 AM
 
Location: Oak Park, IL
5,523 posts, read 13,918,457 times
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Quote:
Originally Posted by ndfmnlf View Post
You can appeal your tax assessment if your property has decreased in value. I have done this a couple of times in the past and have succeeded.
I think you're confusing the concept of tax levy with property value. The two don't necessarily increase at the same rate.
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Old 08-27-2008, 11:44 AM
 
4,183 posts, read 6,512,952 times
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Quote:
I think you're confusing the concept of tax levy with property value. The two don't necessarily increase at the same rate.
I think you're putting words in my mouth. I never said they increase at the same rate.
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Old 08-27-2008, 11:59 AM
 
Location: Oak Park, IL
5,523 posts, read 13,918,457 times
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Quote:
Originally Posted by ndfmnlf View Post
I think you're putting words in my mouth. I never said they increase at the same rate.
No you didn't, fair enough. Still, your property value can fall while your tax bill goes up. The controlling factor is the tax levy, which depends on the amount being appropriated for the schools. So it all comes down to school budgets. Therefore, its not surprising that taxpayers get irate when residents of Chicago are gaming the system by enrolling in Oak Park schools.

Not that I blame them. If I was in their shoes, I'd probably do the same.
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Old 08-27-2008, 12:31 PM
 
11,973 posts, read 31,712,480 times
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Quote:
Originally Posted by ndfmnlf View Post
In 1999, the median value of an Oak Park house was 170K. Today, it's 340K according to this Oak Park, IL Real Estate on Yahoo! Real Estate - Houses for Sale & more
Actually, I think that number includes condos and townhomes. I saw a median figure for single-family houses recently that was upwards of $500K.
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Old 08-27-2008, 12:34 PM
 
11,973 posts, read 31,712,480 times
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Quote:
Originally Posted by sukwoo View Post
No you didn't, fair enough. Still, your property value can fall while your tax bill goes up. The controlling factor is the tax levy, which depends on the amount being appropriated for the schools. So it all comes down to school budgets. Therefore, its not surprising that taxpayers get irate when residents of Chicago are gaming the system by enrolling in Oak Park schools.

Not that I blame them. If I was in their shoes, I'd probably do the same.
I'm tempted to do it now... An apartment in Oak Park is much cheaper than private school tuition!

I'm kidding, of course. Sort of. My local CPS elementary is TERRIBLE. I'd do anything to make sure my daughter doesn't go there in a few years.
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