Illinois has the highest property taxes in the nation, and those taxes are being driven up by pension costs.
Since 1996, residential property taxes have grown by 232%. Most of the growth in property taxes can be attributed to the massive growth in pension obligations that local governments can no longer afford. As pension liabilities climb, local officials raise property tax levies to keep up, leaving homeowners paying more and getting less.
BOTTOM LINE = the dream of owning a home in Illinois will become out of reach for too many, not just because homes are too expensive to buy, but because pensions make them expensive to keep.
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