Market Watch: In less than 3 years, Hawthorn Woods couple's property taxes increased 61%
The home: 35 Andrew Lane, Hawthorn Woods
The 2,966-square-foot home has 4 bedrooms, 3 baths, a 3-car garage, stainless appliances, a pantry closet, a large kitchen island with breakfast bar, a powder room, loft, family room with a fireplace and a relaxing backyard patio on a private corner lot.
The seller: Adam M. Perl & Lilian Leal-Perl
The purchase: In August 2016, Perl and Leal-Perl paid $530,000 for the home, or roughly $559,383 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In August 2016, Perl and Leal-Perl paid $530,000 for the home, or roughly $559,383 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Perl and Leal-Perl sold the home for $513,000 on March 21, or approximately $46,383 less than the original purchase price, in today's dollars.
Perl and Leal-Perl originally listed the home for $525,000 in February.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Perl and Leal-Perl paid $24,782 in property taxes between 2016 and 2017, or about 4.83 percent of the sale price. The couple saw the taxes jump from $9,492 the first year that they owned the home to $15,290 last year -- a 61.08 percent 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.
---
The Financial Facts in Today’s Dollars
| Seller's Purchase Price | Amount Home Sold for in 2019 | Seller’s Property Taxes |
| $530,000 | $513,000 | $24,782 |
