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Market Watch: Naim & Farida Poa Khan lose over $61,000 on sale of Shiloh 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: 306 Tailfeather Drive, Shiloh

The 3,260-square-foot home has 4 bedrooms, 4 baths, a finished basement and a deck.

The seller: Naim and Farida Poa Khan

The seller: Naim and Farida Poa Khan

The purchase: In January 2006, the Poa Khans paid $184,000 for the home, or roughly $233,115 in today's dollars, according to the U.S. Bureau of Labor Statistics.

The sale: According to Zillow, the Poa Khans sold the home for $172,000 on Feb. 1, or about $61,115 less than the original purchase price, in today's dollars.

The Poa Khans originally listed the home for $179,900 in August 2018 and then dropped the price in October to $177,000.

The property taxes: Based on data compiled from and Zillow, the Poa Khans paid $22,513 in property taxes between 2012 and 2017, or approximately 13 percent of the sale price. 


The Financial Facts in Today’s Dollars

Seller's Purchase PriceAmount Home Sold for in 2019Seller’s Property Taxes

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