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Market Watch: Brian & Jennette Weis pay almost half of Yorkville home's sale price in taxes

The home: 476 Walsh Circle, Yorkville

The 2,450-square-foot home has 4 bedrooms, 3 baths, an attached garage, breakfast room, office, central air and cozy fireplace.

The seller: Brian R. & Jennette A. Weiss

The purchase: In April 2002, the Weisses paid $237,000 for the home, or roughly $331,789 in today's dollars, according to the U.S. Bureau of Labor Statistics

The purchase: In April 2002, the Weisses paid $237,000 for the home, or roughly $331,789 in today's dollars, according to the U.S. Bureau of Labor Statistics

The sale: According to Zillow, the Weisses sold the home for $215,000 on March 14 or approximately $116,789 less than the original purchase price, in today's dollars.

The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Weisses paid $106,250 in property taxes between 2003 and 2017, or almost 50 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 PriceAmount Home Sold for in 2019Seller’s Property Taxes

$237,000$215,000$106,250

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