Market Watch: Daghfals pay a quarter of Naperville home's sale price on property taxes
The home: 24W140 Hobson Road, Naperville
The 4,834-square-foot home has 5 bedrooms, 3 baths, a 4-car garage with a large shop area, stainless steel appliances, wainscoting, a breakfast room with built-in white cabinetry, a master suite with a newly remodeled luxury bath, large rooms throughout and a partially finished basement with a fireplace. The property has a 3-stall tack barn and covers 2.53 acres.
The seller: Elizabeth B. & Geo D. Daghfal
The purchase: In November 2006, the Daghfals paid $995,000 for the home, or roughly $1.25 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In November 2006, the Daghfals paid $995,000 for the home, or roughly $1.25 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Daghfals sold the home for $765,000 on April 5, or $490,240 less than the original purchase price, in today's dollars.
The Daghfals originally listed the home in July 2013 for $950,000. In May and June 2016, they lowered the price to $939,900 and $909,900, respectively. In March 2015, the price continued to drop to $899,900. In September 2016, the price went down to $850,000. In December 2016, they also tried to rent the home for $3,800 per month. In September 2018, the price dipped twice to $829,000 and $819,000. The home was last listed at $799,999 in November 2018.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Daghfals paid $198,714 in property taxes between 2006 and 2017, or 25.98 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 |
| $995,000 | $765,000 | $198,714 |
