Market Watch: 25% of Palantine's home sale price goes toward property taxes
The home: 367 W. Rosalie Lane, Palatine
The 1,646-square-foot walk-out ranch home has 3 bedrooms, 2.5 baths, a 2-car garage, hardwoods, a patio deck and central air.
The seller: Klavins Larissa (trust) and Larissa Klavins (trustee)
The purchase: In July 2003, Kristian Klavins paid $335,000 for the home, or roughly $458,529 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In July 2003, Kristian Klavins paid $335,000 for the home, or roughly $458,529 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, a family trust sold the home for $325,000 on Jan. 9, or roughly $133,529 less than the original purchase price, in today's dollars.
The home was originally listed for $329,000 in October 2018.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Klavins paid $81,491 in property taxes between 2006 and 2017, or 25.07 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 |
| $335,000 | $325,000 | $81,491 |
