Quote:
Originally Posted by LinPark
You expected your taxes to go down even though your property is worth less??? My only hope is that the value of my house goes to 0.00 - no matter what rate you tax that at you should get 0.00 in taxes. I could then afford $5/gallon gas.  |
The way the government comes up with a amount to be paid for real estate tax is by appraising a property. Basically based on the equation when a property is worth less the property tax should go down. But some how the property tax still increase after the drop in value.
As for sales tax/income tax, that is a whole different story. Gas tax has always gone up in Chicago. If I drive out side of Chicago, I can buy gas 20-30 cents cheaper. Unfortunately I am not willing to drive 6 miles out to buy gas and drive back 6 miles again.
With all the increased taxes that we have here, I am surprised that we are even still in debt.