Market Watch: Josie Degner & Jonathan King lose over $67,000 on sale of Montgomery home
The home: 3039 Secretariat Lane, Montgomery
The 2,900-square-foot home has 4 bedrooms, 3 baths, an updated kitchen with white shaker cabinets, granite countertops, subway backsplash, new stainless appliances, a loft area, a jacuzzi tub in the master bath, hardwoods and fresh paint.
The seller: Josie Degner & Jonathan King
The purchase: In June 2007, Degner and King paid $282,000 for the home, or roughly $340,686 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In June 2007, Degner and King paid $282,000 for the home, or roughly $340,686 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Degner and King sold the home for $272,900 on March 15, or approximately $67,786 less than the original purchase price, in today's dollars.
Degner and King originally listed the home in early October 2018 for $284,900 and near the end of the month lowered the price to $279,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Degner and King paid $81,632 in property taxes between 2008 and 2017, or 29.91 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 |
| $282,000 | $272,900 | $81,632 |
