Market Watch: Amanda Phillips loses over $38,000 on sale of Decatur home
Illinois' highest-in-the-nation property taxes are eroding home equity and depressing home values across the state. This report is part of a SYHN News Service series on recent home sales that demonstrate the consequences.
The home: 4906 Beacon Drive, Decatur
The 1,700-square-foot home has 3 bedrooms, 2 baths, 2 fireplaces, a new air conditioner and a new furnace.
The seller: Amanda Phillips
The seller: Amanda Phillips
The purchase: In July 2003, Phillips paid $91,500 for the home, or roughly $125,001 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Phillips sold the home for $86,250 on Jan.18, or an estimated $38,751 less than the original purchase price, in today's dollars.
Phillips originally listed the home for $99,900 in May 2017. She dropped the price twice in November 2018, first to $97,000 and then to $95,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Phillips paid $9,425 in property taxes between 2013 and 2017, or approximately 11 percent of the sale price.
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The Financial Facts in Today’s Dollars
| Seller's Purchase Price | Amount Home Sold for in 2019 | Seller’s Property Taxes |
| $91,500 | $86,250 | $9,425 |
