Market Watch: Colleen Talkington pays 31.14% of Rockford's home sale price in property taxes
The home: 416 29th St., Rockford
The 1,590-square-foot ranch home has 3 bedrooms, 1.5 baths, a full basement with recreation room, a workshop, LED lighting fixtures, storage galore, a fireplace and a fenced yard.
The seller: Colleen L. Talkington
The purchase: In June 2007, Talkington paid $109,000 for the home, or roughly $131,683 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In June 2007, Talkington paid $109,000 for the home, or roughly $131,683 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Talkington sold the home for $88,000 on March 28, or approximately $43,683 less than the original purchase price, in today's dollars.
Talkington originally listed the home for $99,900 in November 2018. She lowered the price in January to $89,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Talkington paid $27,405 in property taxes between 2008 and 2017, or an estimated 31.14 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 |
| $109,000 | $88,000 | $27,405 |
