Market Watch: Casey and Gary Kozlowski lose over $420,000 on sale of Barrington 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: 736 Highland Ave., Barrington
The 2,700-square-foot home has 5 bedrooms, 5 baths, high ceilings, hardwoods and is in a great location.
The seller: Casey L. and Gary M. Kozlowski
The seller: Casey L. and Gary M. Kozlowski
The purchase: In September 2006, the Kozlowskis paid $797,000 for the home, or roughly $986,854 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Kozlowskis sold the home for $566,500, or approximately $420,354 less than the original purchase price, in today's dollars.
The Kozlowskis originally listed the home for $725,000 in early June 2017 and by mid-June they dropped the price to $698,000. In June 2018, the price dropped again to $669,000 and again in September 2018 to $624,900. The price decreased again in October 2018 to $598,000 and dipped again in November 2018 to $589,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Kozlowskis paid $116,766 in property taxes between 2007 and 2017, or about 20.61 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 |
| $797,000 | $566,500 | $116,766 |
