Market Watch: Janna Johnson loses over $62,000 on sale of Joliet home
The home: 8106 Expedition Street, Joliet
The 1,700-square-foot home has 3 bedrooms, 2 baths, lots of natural light, and a spacious living room with vaulted ceilings.
The seller: Janna K. Johnson
The purchase: In October 2015, Johnson paid $265,000 for the home, or approximately $280,458 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In October 2015, Johnson paid $265,000 for the home, or approximately $280,458 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Johnson sold the home for $218,000 on Feb. 1, or approximately $62,458 less than the original purchase price, in today's dollars.
Johnson originally listed the home for $222,800 in July 2018. She dropped the price in December 2018 to $215,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Johnson paid $11,462 in property taxes between 2016 and 2017, or roughly 5 percent of the sale price.
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.
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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 |
| $265,000 | $218,000 | $11,462 |
