Property tax escalation - to the point of eviction - happens because town/city/county planners decide that they need to increase their budgets by "X" amount to fund their projects - which in many cases were not voted by the electorate - and they then either re-assess the property or raise the mill-rate.
IMHO property value re-assessment should only happen when real property changes hands through SALE, not inheritance, or by the whims of ambitious planners.
Wondering if the state of ill might also be trying to find a way to pay for their massive pension fund obligations as well as taking the land to insure we cannot use it for farm land.
This seems like something Bill Gates and others would do for power and control.
im in WI, and every year since 2020, our taxes have increased by 25% or more, each year. meanwhile, getting rid of our local ems services and fire services. we now share those with a few neighboring villages. can we request an audit of where our increased tax dollars are going? it is clearly not going to benefit the people of the village.
I live in Illinois and used to work as an assessor. Some of the information given does not add up. I did a quick property search by owners name in Montgomery County, IL and Brandy Lint name does not come up. Searching only Brandy there is no last name similar to Lint. Land is assessed at 33-1/3 of market value based on sales of similar types of properties for the previous 4 years. A
re-assessment is generally done every 4 years in what Illinois calls a "Quad" year. If a 96 acre parcel of land has a market value of say $120,000, the assessed value would be $40,000. At the time taxes are calculated the property owner would take the assessed value of $40,000 and multiply it times the tax rate for that year. I looked up a 40 acre vacant wooded parcel and the tax rate in 2023 was 7.08288%. In this case $40,000 x 0.0708288 would equal a $2,833.15 tax bill. Illinois assessment of farmland is much lower than most all other vacant land. The tax rate is determined by the state of Illinois which is based upon "productivity" and is at a much lower rate than say vacant land. If the property owners wooded acres was previously assessed as farmland in error and maybe should not have been because it was not being farmed, then the assessor would change the assessed value up to a value based on recent sales within the township or county. The state of Illinois does have special programs for "Preferential Assessments for Wooded Acreage" Publication 135. Under various programs an owner of wooded acreage can lower their assessment and tax bill considerably.
Property tax escalation - to the point of eviction - happens because town/city/county planners decide that they need to increase their budgets by "X" amount to fund their projects - which in many cases were not voted by the electorate - and they then either re-assess the property or raise the mill-rate.
IMHO property value re-assessment should only happen when real property changes hands through SALE, not inheritance, or by the whims of ambitious planners.
That would and should be logical, but then again its GOV!
Klaus Schwab's desire for everyone to own nothing and be happy won't happen if people can still own land.
Sure sounds like it doesn't it
Thank you for the info Jovan.
Wondering if the state of ill might also be trying to find a way to pay for their massive pension fund obligations as well as taking the land to insure we cannot use it for farm land.
This seems like something Bill Gates and others would do for power and control.
I agree, something nefarious is underpinning this move
im in WI, and every year since 2020, our taxes have increased by 25% or more, each year. meanwhile, getting rid of our local ems services and fire services. we now share those with a few neighboring villages. can we request an audit of where our increased tax dollars are going? it is clearly not going to benefit the people of the village.
This is why people have to look hard at this issue and get up to speed on it
Hmm, protecting life, Liberty and property?
When these outrageous valuation occur, the owner should be able to sell the property to the county at that price.
I live in Illinois and used to work as an assessor. Some of the information given does not add up. I did a quick property search by owners name in Montgomery County, IL and Brandy Lint name does not come up. Searching only Brandy there is no last name similar to Lint. Land is assessed at 33-1/3 of market value based on sales of similar types of properties for the previous 4 years. A
re-assessment is generally done every 4 years in what Illinois calls a "Quad" year. If a 96 acre parcel of land has a market value of say $120,000, the assessed value would be $40,000. At the time taxes are calculated the property owner would take the assessed value of $40,000 and multiply it times the tax rate for that year. I looked up a 40 acre vacant wooded parcel and the tax rate in 2023 was 7.08288%. In this case $40,000 x 0.0708288 would equal a $2,833.15 tax bill. Illinois assessment of farmland is much lower than most all other vacant land. The tax rate is determined by the state of Illinois which is based upon "productivity" and is at a much lower rate than say vacant land. If the property owners wooded acres was previously assessed as farmland in error and maybe should not have been because it was not being farmed, then the assessor would change the assessed value up to a value based on recent sales within the township or county. The state of Illinois does have special programs for "Preferential Assessments for Wooded Acreage" Publication 135. Under various programs an owner of wooded acreage can lower their assessment and tax bill considerably.
The missing link here, is that income tax needs to go away.
This is very alarming! I sure hope it can be stopped, in some way! Seems like a definite land grab, as you stated.
Thanks for sharing Jovan. Appreciate you & your insight on so many topics of concern.