Richard C. owns a 3,240 square foot Plainfield home that is currently assessed at $261,801.
“They’re taxing me for $50,000 more than what the house is worth,” Richard said. “I have no streetlights. I have no city water, no sewer, no sidewalks.”
Richard took possession of the home in 2003 when it was worth around $200,000, or $274,390 in today’s dollars. He has paid $55,171 in property taxes since 2008, more than 27.5 percent of the original value of his home.
“I don’t know how they spend it,” Richard said. “The state stays bankrupt. I don’t think it’s spent properly at all.”
Richard is currently paying $6,463 per year in property taxes on his home, about 2.4 percent of the Will County Assessor claimed value of $261,801.
“I think about moving a lot because of the taxes,” Richard said. “It just keeps going up and I’m not getting anything back for them. It’s going to get to the point where I can’t retire here because I can’t pay the property tax, and that’s sad.”
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.
“I think a property tax freeze would be good,” Richard said.
If Richard lived in Indiana the most he could be charged in property taxes would be $2,618 per year or $3,845 less than what he currently pays in Illinois.
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