Market Watch: James & Lisa Brewer pay 26 percent of Highland Park home's sale price in property taxes
The home: 3266 University Ave., Highland Park
The 3,317-square-foot home has 5 bedrooms, 4 baths, vaulted ceilings, a breakfast bar, shaker-style kitchen cabinets and a giant deck with a screened in gazebo. The home lies on almost a half acre backed up to Old Elm Golf Course.
The seller: James D. & Lisa B. Brewer
The purchase: In February 2005, the Brewers paid $620,000 for the home, or roughly $813,667 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In February 2005, the Brewers paid $620,000 for the home, or roughly $813,667 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Brewers sold the home for $550,000 on Feb. 27, or approximately $263,667 less than the original purchase price, in today's dollars.
The Brewers originally listed the home for $625,000 in February 2018 and lowered the price in June 2018 to $599,900. They dropped the price again in August 2018 to $574,500. It was last listed at $549,900 in January.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Brewers paid $141,956 in property taxes between 2006 and 2017, or about 26 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.
---
The Financial Facts in Today’s Dollars
| Seller's Purchase Price | Amount Home Sold for in 2019 | Seller’s Property Taxes |
| $620,000 | $550,000 | $141,956 |
