Market Watch: Thomas Jackson & Linda Masilotti lose over $407,000 on sale of St. Charles home
The home: 2962 Majestic Oaks Drive, St. Charles
The 2,907-square-foot home has 3 bedrooms, 3 baths,a bluestone walkway, high ceilings, hardwoods, an office with a vaulted ceiling, custom cabinetry, a stone fireplace in the great room and tray ceilings in the master suite.
The seller: Thomas A. Jackson & Linda R. Masilotti
The purchase: In September 2004, Jackson and Masilotti paid $695,000 for the home, or roughly $935,259 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In September 2004, Jackson and Masilotti paid $695,000 for the home, or roughly $935,259 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Jackson and Masilotti sold the home for $527,500 on May 15, or approximately $407,759 less than the original purchase price, in today's dollars.
Jackson and Masilotti originally listed the home for $559,900 in September 2018, but lowered the price in October 2018 to $549,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Jackson and Masilotti paid $75,137 in property taxes between 2013 and 2017, or about 14.24 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 |
| $695,000 | $527,500 | $75,137 |
