SCHAUMBURG, Ill. (CBS) — Some suburbanites are feeling the pain of decreasing property values and increased taxes.
As WBBM Newsradio’s Keith Johnson reports, an analysis by the Daily Herald has revealed that since 2006, property taxes have soared more than 20 percent in several suburbs.
Of 83 municipalities in seven counties, all but one has seen an increase in property taxes over the five-year period, the Daily Herald reported.
Critics tell the newspaper the state of affairs is sad, because towns have not done enough to relieve tax burdens on their residents, who are already hamstrung by stagnating wages and a higher cost of living.
To fix the imbalance, critics tell the Daily Herald, towns should live within their means, cut or consolidate underperforming programs and services, eliminate redundant positions, and reduce personnel costs.
LISTEN: WBBM Newsradio’s Keith Johnson reports