Market Watch: William Bourner loses over $7,000 on sale of Collinsville 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: 123 March Drive, Collinsville
The 750-square-foot home has 2 bedrooms, 1 bath, a fenced-in backyard with a nice deck and a great location.
The seller: William P. Bourner
The seller: William P. Bourner
The purchase: In September 2013, Bourner paid $68,000 for the home, or roughly $72,961 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Bourner sold the home for $65,500, or approximately $7,461 less than the original purchase price, in today's dollars.
Bourner originally listed the home for $72,000 in November 2018. He dropped the price to $68,000 in December 2018.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Bourner paid $7,117 in property taxes between 2013 and 2017, or an estimated 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 |
| $68,000 | $65,500 | $7,117 |
