Property Values Down, But Property Taxes Up

CHICAGO (CBS) — It’s a cruel reality. Property taxes are up all over Chicagoland, according to a new report.

In the city and suburb after suburb, property values are dropping, but tax levies for schools and services are going up.

That means and most homeowners are – in effect – paying more taxes on homes that are worth less.

CBS 2’s Roseanne Tellez talked with residents in suburban Cook County an area hard hit by rising property tax rates.

Everyone is paying more, but the breakdown of effective property taxes might surprise you.

The Civic Federation, a government watchdog group, released a report on local property taxes on Monday.

“That means for a similar house in Schaumburg, or in Oak Park, or in the city of Chicago, the city has the lowest effective tax rate,” Civic Federation President Laurence Msall said.

He said the group’s report “allows for an apples to apples comparison” – same type of house, same number of rooms, same square footage.

Increases of between 10 and 13 percent in Lake Forest, Wheaton and Chicago might sound huge – a $5,000 tax bill, for example, would go up $535.

But compare that to areas like Waukegan, Elk Grove Village and Schaumburg where the effective rate increase from the 2008 tax year to 2009 is a whopping 27.8 percent. A $5,000 tax bill there would go up $1,390.

This is at a time when property values are decreasing.

“Absolutely everything in our neighborhood is down substantially,” said Schaumburg homeowner Kim Zelden.

Is she angry? “You can’t help but be upset about it,” she said.

Joe Vermiglio, one of her neighbors, said, “That’s the biggest bite; is the property values have been going down and the taxes have been going up. It doesn’t sound reasonable.”

Vermiglio, like all the residents we talked to on their street in Schaumburg, fights his property taxes every year.

“We wind up either paying a lawyer for the reduction, or paying the county for the taxes. So, either way, you catch it from both ends,” said Vermiglio.

The answer, said Msall, is growing the economy and growing the economic base of all the communities in the region. The more commercial taxes that are collected, the better off most communities are.

You can see where your community stands. Just go to the Civic Federation website to access their report.

More from Roseanne Tellez
  • Walter T. Dawes


  • jhag

    At these rates you don’t own anything. You’re just paying rent to the county.

  • Bill S.

    I don’t know how people are going to survive? Tollway increase, property tax increase, food skyrocketing — what is this all going to end up doing to civilization?

    • jt


    • Up The RA

      Cardboard appliance boxes and a tarp. Cat food. Have your children learn what time the garbage trucks first arrive at the dump. It can be done – I saw such a scene driving in Mexico and I will never forget it.

  • Joe in OK

    I grew up in Elk Grove Village, Schaumburg, and Roselle before leaving IL for college and then the Army. Given that the people of IL have turned to the socialistic way of the Democrat Party and unleashed Barack Obama on the rest of this Republic, I have a hard time feeling sorry for the people of IL who are suffering from the failed policies of high taxes and an environment that is anti-business. If the people of IL vote with Obama in 2012, then they will deservingly reap the harvest they have sown.

    • Liberty Reigns

      agree 100%, this is what Democrats want, Socialism.

  • Hungry Taxpayer


  • Mary in Chicagoland

    And don’t forget that Governor Quinn raised Illinois Income Tax from 3 to 5%. Whoopee!

  • Honest Abe

    Keep electing Democrats!!!

  • firstpoppa

    Hey Illinois, you wanted Democratic socialism. You got Democratic socialism. Now STFU and PAY UP!

    • Mary in Chicagoland

      Believe me – if we could get out, we would in a heartbeat – can’t sell the overtaxed house! (At least my children are able to get out.) There are many in Illinois who never voted for the liberal idiots!

      • Joe in OK

        I empathize for you and others like you who don’t vote Democrat. I still have lots of family in IL. My parents OTOH took a loss of equity on their home in IL and moved to Florida where the downwared trend of the housing market created a good deal there.

  • Dave Speller

    The folks in Chicago elect Democrats – what do they expect. This is what Democrats do – the last democrat to reduce taxes was JFK>

  • Hank Warren

    Useless dual-citizen Mayors raising taxes, yet another violation of our rights. Add it to the list of gov’t violations of our rights:
    They violate the 1st Amendment by placing protesters in cages, banning books like “America Deceived II” and censoring the internet.
    They violate the 2nd Amendment by confiscating guns.
    They violate the 4th and 5th Amendment by molesting airline passengers.
    They violate the entire Constitution by starting undeclared wars for foreign countries.
    Impeach Obama, vote for Ron Paul.
    (Last link of Banned Book):

  • CHICAGOLAND: Property values down; property taxes up... | Breaking News

    […] (First column, 11th story, link) […]

  • Frank

    Glad I left and moved to New Hampshire! Live Free or Die!

  • Jerry

    They need a community leader; I know where they can get one…..

  • James Wills

    But, but, but – I OWN my home, right?

    Wake up sheeple! As long as there are prop taxes, you will NEVER own your home. Pay off your mortgage, throw your prop tax bill in the garbage, see how long you “own” your home.

  • The Clintidote

    Well, we certainly can’t expect government parasites to suffer, do we?

  • sb36695

    If you vote for liberals, this is what you get.

  • Fred

    Imagine what they would do if we didn’t have the right to bear arms.

  • Blood Runs Irish 1916

    I once read a book whereby the citizens burned their tax statements and then proceeded to burn down city hall and slaughtered anybody who made it outside. Don’t recall the name of the book, but it had a happy ending.

  • Joe Mama

    I moved to Texas. To Hell with ya’ll

    • Man Behind The Wire

      That’s the spirit! I will be moving the whole family to the first state to secede. If none secede and things continue to deteriorate (and they will) we’re heading to either Canada, Ireland, Chile, Spain or Ecuador.

  • Free and Green

    Why, when linked from Drudge does CBS allow ‘anonymous’ commentary? Lamestream media would never allow free-flowing citizen vitriol to permeate the official propaganda on hot button issues. Is CBS used by the government for to do informal surveys of citizen sentiment?

    It’s just odd that almost every black on white crime story and anything to do with government encroachment or police beat downs links to a CBS ‘all-seeing-eye’ site.

  • Centurion

    LEAVE CROOK COUNTY! Leave that god forsaken city that is controlled by Black Gangsters and Latin Kings. Let the low lifes have the city and LEAVE. Then build your barriers in the suburbs to keep the trash out.

  • DOA

    They don’t call it CROOK COUNTY for no reason. Thank the demoRATS who have controlled local and state government in IL for decades for the economic mess this state is in.

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