Holli W.: We now consider that we rent our house from the government

Holli owns a 1,736 square foot Hudson home that is currently estimated by Zillow to be worth $222,657 .

Holli took possession of the home in 1996 when it was worth around $150,000, or $241,057.36 in today’s dollars. She has paid $61,535 in property taxes since 2007.

Holli is currently paying $5,483 per year in property taxes on her home, about 2.4 percent of the estimated  value of $222,657.

“We’ve put over a $100,000 over the years that we’ve owned it…then our property really started to become burdensome within the last ten years,” Holli said. “We now consider that we rent our house from the government for $500 a month. That is encouraging us to consider moving and leaving. We are looking to bolt; to get out. Our three kids have now gone to college and we will be moving within a year if we can sell our house.”

“We’ve put over a $100,000 over the years that we’ve owned it…then our property really started to become burdensome within the last ten years,” Holli said. “We now consider that we rent our house from the government for $500 a month. That is encouraging us to consider moving and leaving. We are looking to bolt; to get out. Our three kids have now gone to college and we will be moving within a year if we can sell our house.”

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.

“If our property value is $221,00 then that would mean that would mean our property taxes would be – let’s say - $2,200,” Holli said. “That is $183 a month. That is feasible. That is manageable. That makes sense to us. I am hundred percent for it.”

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.

If Holli lived in Indiana the most she could be charged in property taxes would be $2,226.57 per year or $3,256.43 less than what she currently pays in Illinois.

“We’re still looking at the options,” Holli said. “One of the things that we are so aware of now are out fixed costs. We’re looking some place where our fixed costs is significantly less than here.”