Market Watch: Penny Pasqualucci loses over $10,000 on sale of Bloomington 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: 5 Scofield Court, Bloomington
The 2,567-square-foot home has 5 bedrooms, 4 baths, crown molding, a dual stairway and two double-sided fireplaces.
The seller: Penny F. Pasqualucci
The seller: Penny F. Pasqualucci
The purchase: In September 2014, Pasqualucci paid $280,000 for the home, or roughly $295,529 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Pasqualucci sold the home for $285,000 on Jan.18, or an estimated $10,529 less than the original purchase price, in today's dollars.
Pasqualucci originally listed the home for $304,900 in early October 2018. She dropped the price by $1 in mid-October 2018 to $304,899 and then to $299,900 in November 2018 .
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Pasqualucci paid $28,272 in property taxes between 2014 and 2017, or approximately 10 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 |
| $280,000 | $285,000 | $28,272 |
