Bad Timing for Property Tax Hikes

Yikes–just when I speak so fondly of Evanston, they go and raise property taxes on everyone. The amount varies, depending on particular homeowner exemptions that eat some of the increase, but many people are seeing a nine to 15 percent jump in taxes. While this increase will help pay back debts to the city and fund programs for the increasingly needy population in this diverse neighborhood, many people are squawking about the hike.

Aside from the alleged need for cash on the city council’s end, Evanston is going to see some dramatically different property assessments from the time this increase was proposed. Since last October, the average listing price has dropped nearly 10 percent in Evanston. Unfortunately, the next property assessment won’t happen until 2010. In other words, the tax hike doesn’t match the decrease in assessment or property value.

Do you think this hike was necessary? How do you think this will affect the already depressed sales in the area?

My solution? Talk to your aldermen. In the meantime, here are some Evanston steals:

1920 LAKE St
EVANSTON, IL 60201
Price: $200,000
BEDS: 4
BATHS: 2

1136 HARTREY Ave
EVANSTON, IL 60202
Price: $167,750
BEDS: 3
BATHS: 2

1819 LEMAR Ave
EVANSTON, IL 60201
Price: $160,000
BEDS: 2
BATHS: 2