Market Watch: Taxes on foreclosed Bolingbrook home increase by 829% over 12 years
The home: 985 Ashbrook Circle, Bolingbrook
The 3,109-square-foot home has 4 bedrooms, 3 baths, a 3-car garage, beautiful hardwoods, fresh paint, new carpet, a den and a full unfinished basement with plenty of storage. It is located in the desirable Claridge Estates Subdivision.
The seller: Maria Pilar M Nadres
The purchase: In December 2005, Nadres paid $413,465 for the home, or roughly $528,831 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In December 2005, Nadres paid $413,465 for the home, or roughly $528,831 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the home was in foreclosure when it sold for $337,000 on March 28, or approximately $191,831 less than the original purchase price, in today's dollars.
The home was originally listed for $336,000 in February.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Nadres paid $45,075 in property taxes between 2013 and 2017, or 13.38 percent of the sale price.
In 2005, Will County reported the taxes on the home were $1,052. By 2017, they had skyrocketed to $9,769 for an 829% increase.
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 |
| $413,465 | $337,000 | $45,075 |
