Market Watch: More than 25% of Warrenville home's sale price goes toward taxes
The home: 3S406 Saddle Ridge Court, Warrenville
The 4,050-square-foot home has 6 bedrooms, 6 baths, an attached garage, a pantry closet, hardwoods, a recreation room, a game room and a bonus room. It is located on a 0.69 acre lot.
The seller: Makowiec Property (Trust)
The purchase: In September 2008, the Makowiec family paid a little over $1.16 million for the home, or roughly $1.34 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In September 2008, the Makowiec family paid a little over $1.16 million for the home, or roughly $1.34 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the home sold for $810,000 on Jan. 31, or approximately $530,343 less than the original purchase price, in today's dollars.
The property was originally listed for sale in August 2017 for $975,000, and the price was lowered to $965,000 in October 2017. The price dropped again in January, May, June and August 2018 to $950,000, $935,000, $899,000 and $889,000, respectively. In September and October 2018, the price continued to dip down to $875,000 and $849,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Makowiecs paid $211,805 in property taxes between 2008 and 2017, or about 26.15 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 |
| $1,165,000 | $810,000 | $211,805 |
