John G.: It both affects directly my ability to spend money on things that I need and it also suppresses the property values

John owns a 2,650-square-foot, four-bedrooms, three-bathrooms Yorkville home that is currently assessed at $274,089.

John took possession of the home in 1993 when it was worth around $40,500, or $70,670.68 in today’s dollars. He has paid $122,035 in property taxes since 2000, more than three times the original value of his home.

“There is no incentive for the taxing bodies to keep taxes low and there is no mechanism that allows for taxes to come down,” John said. “They have no incentive to encourage higher property values. All the local school board says is that they are entitled to these increases and there’s really nothing we can do about it.”

John is currently paying $8,954 per year in property taxes on his home, about 3.2 percent of the Kendall County Assessor claimed value of $274,089.

John is currently paying $8,954 per year in property taxes on his home, about 3.2 percent of the Kendall County Assessor claimed value of $274,089.

“It both affects directly my ability to spend money on things that I need and it also suppresses the property values,” John said.

Indiana has a hard 1 percent cap on property taxes. This means local governments are not allowed under state law to charge homeowner’s more than 1 percent of their home’s assessed value per year. The average property tax rate for the state of Indiana is 0.89 percent. Meanwhile the average property tax rate in Illinois is 2.3 percent.

“It’s certainly one of the reasons that I would move,” Jphn said. “I’m hesitant to move right now because of family obligations but when those obligations are fully taken care of, I would definitely consider moving somewhere else.”

If John lived in Indiana the most he could be charged in property taxes would be $2,740.89 per year or $6,213.11 less than what he currently pays in Illinois.

“It’s trade offs,” John said. “You’re paying taxes versus putting money for retirement. I am single with no kids so I don’t have the expenses that a lot of people do but I still find it difficult for me. The price of everything is going up but the taxes is the most painful and it’s also the one we have no control over.”