Quote:
Originally Posted by LouisVanDerWright
I was looking at SFH with the wife and figured we would at least consider Oak Park, but wtf the taxes are horrendous outside of the city. I don't understand why a $1.25 million house in old Irving Park pays half the taxes as a 750k house in Oak Park. It's a bummer too because the Robert Parker house is for sale for only like $750k which we might be able to swing if we didn't have to tack $2500/mo in taxes on top of it. That's just silly, the entire payment would be $2500, the taxes are equal to a second mortgage payment...
I can see why people in that 75-100k salary range are scramming when a $350k house comes with a $10k+ annual tax bill...
Does anyone know why taxes are so low in the city proper? Is it just the smaller lots sizes or what?
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In addition to the downtown tax base, I actually feel that a lot of it has to do with schools. A huge amount of our property tax bill goes towards schools, and since suburbs are family-heavy and the city is (relatively) not, it ends up being a much bigger priority.
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