http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1993543Oh my.
NNN0LHI (1000+ posts) Fri Sep-23-11 06:48 PM
Original message
Lose home value? Don’t expect a lower property tax bill
http://www.suntimes.com/news/7816066-418/lose-home-valu...
Cook County property tax bills are expected to go out the first week of October, and while Chicago and suburban landowners assume their property values have sunk, it may not translate to lower tax bills.
Countywide, property owners will collectively pay a 2.68 percent increase — a rise of more than $300 million — in property taxes this year.
That’s because taxing districts countywide — from parks and cities to libraries and schools — are asking for $11.6 billion to cover the bills, up from last year’s $11.3 billion.
Some $4 billion of that money goes to the major taxing districts in the city of Chicago, up from $3.9 billion the previous year.
Okay, for those who don't know, grouchy old Don was the guy who went to work on the automobile assembly-line in 1971, when he was a mere lad fresh out of high school. He worked hard, kept his nose clean, and saved his money, and retired after 30 years, at the age of 48.
He had some speed-bumps during the recessive Carter years, but did pretty good during the Reagan-Bush-Gingrich-Bush prosperity 1983-2007; he hasn't done so good since the ill-starred mid-term elections of 2006.
For a couple of years now, my good friend Don has been whining on Skins's island about his Chicago and Cook County property taxes. He alleges that pretty soon, they're going to be more than the amount of his mortgage each month, which seems plausible.
While the heart goes out to the decent and civilized people of Chicago and Cook County, that compassion doesn't extend to my good friend Don. You see, my good friend Don has always been a big supporter of corrupt machine politics--about 40 years of voting the straight machine party-line. He perhaps thought that if he took care of the machine, gave it his votes, they'd take care of him.
One reaps what one sows.
It's just too bad decent and civilized people in Chicago and Cook County also have to reap what Don sowed.
FrenchieCat (1000+ posts) Fri Sep-23-11 06:52 PM
Response to Original message
1. In Alameda county, one can have their property taxes reassessed based on updated property values.
NNN0LHI (1000+ posts) Fri Sep-23-11 06:56 PM
Response to Reply #1
2. According to the article assessed value is only a single factor in calculating the final bill
Bluenorthwest (1000+ posts) Fri Sep-23-11 07:39 PM
Response to Reply #1
7. CA has rules no other States have....Prop 13 stuff
Lots of them. Lots and lots. This is part of why CA is always more broke than it looks.
NNN0LHI (1000+ posts) Fri Sep-23-11 07:47 PM
Response to Reply #7
8. Doesn't help that the top five cars sold in California are imports either
As a retired union auto worker my wife and I always dreamed of vacationing in California and spending some money there as tourists.
But that is out of the question due to our finances being squeezed and our budget no longer allowing for any vacations like that.
So we won't be putting any money into the California economy because we don't have any extra money to spend.
Isn't tourism a big part of the California economy?
Don
virgogal (1000+ posts) Fri Sep-23-11 07:20 PM
Response to Original message
4. Homeowners always complain when the value goes down but the taxes don't.
During the boom I didn't hear one person complain that their taxes were too low compared to the value of the home.
Human nature!
(And yes,I'm, one of them)
NNN0LHI (1000+ posts) Fri Sep-23-11 07:30 PM
Response to Reply #4
5. During the boom my pension increased every year to keep up with such things as higher property taxes
Used to be able to go to our union leadership to get an increase in our pensions to offset such increases. Not any more. My pension has not increased for years. Actually it has been reduced in the past few years with higher insurance premiums and higher co-pays.
Do you understand what that does to someone on a pension?
Don
It means that at the age of 58 years, my good friend Don's going to have to find some work, to pay the machine.
virgogal (1000+ posts) Fri Sep-23-11 07:56 PM
Response to Reply #5
9. I've been on SS for 15 years plus a small pension. I sure do understand.
SheilaT (1000+ posts) Fri Sep-23-11 10:46 PM
Response to Reply #5
12. Pssst, guess what? A lot of currently employed people haven't gotten raises in at least that long.
Do you understand what that does to someone who is still working?
