Because overall is better. As I clearly stated a high income tax increases the burden when used with everything else. Not really that tough a concept.

 

So california has no ther taxes, just state income tax?

California just has a ridiculously low property tax, especially given property values out here.

 

(That really jacks up the state tax rate, because in a lot of places, property tax revenues go to fund city-based projects like schools. Out here, the property tax base is so limited thanks to Prop 13 that additional revenue needs to be raised somewhere, and Prop 13 required the State government to raise those funds. So therefore, income and sales and gas taxes have to go through the roof, because they have to not only fund what the state government would normally have to pay for, they have to fund all the city governments as well)

California just has a ridiculously low property tax, especially given property values out here.

 

(That really jacks up the state tax rate, because in a lot of places, property tax revenues go to fund city-based projects like schools. Out here, the property tax base is so limited thanks to Prop 13 that additional revenue needs to be raised somewhere, and Prop 13 required the State government to raise those funds. So therefore, income and sales and gas taxes have to go through the roof, because they have to not only fund what the state government would normally have to pay for, they have to fund all the city governments as well)

 

Cook county is kind of the same. relatively low property tax, everythign else crazy high tax. sales tax alone is 10.5%

Edited March 17, 200917 yr by mr_genius

Cook county is kind of the same. relatively low property tax.....

 

You're joking right?

You're joking right?

 

Relative is an interesting tool. Cook County is relatively cheap and relatively crazy expensive.

Cook county is kind of the same. relatively low property tax, everythign else crazy high tax. sales tax alone is 10.5%

Cheap? Not from what I know, talking to people in other areas.

 

Cheap? Not from what I know, talking to people in other areas.

 

Really depends on where you are, apparently.

 

http://www.city-data.com/forum/chicago-sub...ook-county.html

 

 

Cheapest:

South Barrington 5.227-7.151

Inverness 5.227-7.456

Northbrook 5.337-6.184

Northfield 5.442-6.252

Glenview 5.541-6.763

Burr Ridge 5.550-5.926

Hinsdale 5.551-5.936

 

Most expensive:

Country Club Hills 12.420-12.760

Ford Heights 21.52

 

It's more than DuPage.

http://addisonadvantage.org/Property%20Tax%20Rates.htm

 

It seems like the wealthiest areas (ie, highest property values) have far lower tax rates.

Edited March 17, 200917 yr by StrangeSox

Really depends on where you are, apparently.

 

http://www.city-data.com/forum/chicago-sub...ook-county.html

 

 

Cheapest:

South Barrington 5.227-7.151

Inverness 5.227-7.456

Northbrook 5.337-6.184

Northfield 5.442-6.252

Glenview 5.541-6.763

Burr Ridge 5.550-5.926

Hinsdale 5.551-5.936

 

Most expensive:

Country Club Hills 12.420-12.760

Ford Heights 21.52

 

It's more than DuPage.

http://addisonadvantage.org/Property%20Tax%20Rates.htm

 

It seems like the wealthiest areas (ie, highest property values) have far lower tax rates.

I'm in the city.

 

Let's put it this way. I have a 2 BR condo, in Bucktown. My taxes there for a year are 30+ times as much as I pay for 24 acres of land in New Mexico.

 

I'm in the city.

 

Let's put it this way. I have a 2 BR condo, in Bucktown. My taxes there for a year are 30+ times as much as I pay for 24 acres of land in New Mexico.

 

Undeveloped land or ag zoned, pays almost nothing, and that is how it should be.

THe first cut should be state funded healthcare for retired state employees.

You're joking right?

 

you must be thinking of the property assessment in Chicago. they will f*** you. it's totally messed up.

Edited March 17, 200917 yr by mr_genius

You're joking right?

 

i think cook county is cheap in comparison to the collar counties.

 

my parents house in cook county has a fair market value of probably $300,000. They pay approx $5k in property taxes per year.

my house in kane county has a fair market value of probably $460,000. I pay approx $10k in property taxes per year.

 

maybe its different in the city, but comparing burbs in Cook to burbs in Kane, Kane is probably 25-30% higher than Cook.

What's great with the whole housing market meltdown is that homes going for $150k in Bolingbrook have $5 or $6k a year tax liabilities.

i think cook county is cheap in comparison to the collar counties.

 

my parents house in cook county has a fair market value of probably $300,000. They pay approx $5k in property taxes per year.

my house in kane county has a fair market value of probably $460,000. I pay approx $10k in property taxes per year.

 

maybe its different in the city, but comparing burbs in Cook to burbs in Kane, Kane is probably 25-30% higher than Cook.

 

In Cook County, a house is assessed at fair market value, and your tax rate is applied at a formula of 16% of that fair market value. In the colar counties, its 33% of fair market value. I believe, and by far I am not an expert on this so feel free to jump in. FMV * percentage ( .16 for Cook/.33 for Cook/Kane and Lake * tax rate percentage which is based on the area you live in.

Edited March 18, 200917 yr by southsideirish71

“For a long time wealth has been redistributed from the pockets of working class people to corporations, special interests and others with loopholes,” Quinn said before boarding a plane to Springfield at Midway Airport.

 

So lets tax those evil corporations.

 

The Quinn income tax hike proposal would raise the rate to 4.5 percent from 3 percent for individuals , levels first reported last week by the Tribune, and to 7.2 percent from 4.8 percent for corporations.

 

Daley: Quinn's tax plan could turn up heat on local tax increase

 

Now I understand that those evil corporations are gettign away with murder making money and all. And how cheap their taxes are. Oddly I think that companies might react badly to this.