Market Watch: Jamrozs pay 22.99% of Oak Park home's sale price in taxes
The home: 635 S. Elmwood Ave., Oak Park
The 3,009-square-foot Craftsman home has 5 bedrooms, 3 baths, oak detailing, artistic glass, beautiful flooring, a brick fireplace, a walk-out recreation room, a third floor with an open floor plan, an in-law suite and a music room.
The seller: Mariusz & Maria Jamroz
The purchase: In January 2006, the Jamrozs paid $680,000 for the home, or roughly $863,157 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In January 2006, the Jamrozs paid $680,000 for the home, or roughly $863,157 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Jamrozs sold the home for $570,000 on March 12, or approximately $293,157 less than the original purchase price, in today's dollars.
The Jamrozs originally listed the home for $625,000 in December 2011. They raised the sale price of the home in June 2018 to $659,000 but quickly dropped it back down in July 2018 to $635,000. In August 2018, the home was priced at $600,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Jamrozs paid $131,033 in property taxes between 2007 and 2017, or about 22.99 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 |
| $680,000 | $570,000 | $131,033 |
