Market Watch: Scott & Bethany Kistler lose over $30,000 on sale of Kankakee home
The home: 655 S. Myrtle Ave., Kankakee
The Kankakee home has 4 bedrooms, 2 baths, a 2-car garage, original hardwoods, a main floor office, living room with French doors, kitchen with a butler's pantry, attic space, fresh paint, a fenced yard and a new porch.
The seller: Scott T. & Bethany J. Kistler
The purchase: In January 2011, the Kistlers paid $89,000 for the home, or roughly $102,732 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In January 2011, the Kistlers paid $89,000 for the home, or roughly $102,732 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Kistlers sold the home for $72,000 on May 6, or approximately $30,732 less than the original purchase price, in today's dollars.
The Kistlers listed the home in October 2018 for $79,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Kistlers paid $12,362 in property taxes between 2013 and 2017, or about 17.17 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 |
| $89,000 | $72,000 | $12,362 |
