It feels like a broken record to say "The taxes in Illinois are killing me..." but the numbers for 2024 are truly staggering. Here is why the experts say Illinois is the 2nd worst state in the country for property taxes...

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According to WalletHub, Illinois finished 50th out of 51 places (the states plus Washington D.C.) on their list of Property Taxes By State 2024. The only state that finished lower than the Land of Lincoln was New Jersey, and Illinois finished just behind Connecticut, New Hampshire, and Vermont. How did WalletHub determine these rankings? In the article, they say...

"Depending on where you live, property taxes can be a small inconvenience or a major burden. The average American household spends $2,869 on property taxes for their homes each year...But which states have the largest property tax load, and what should residents keep in mind when it comes to meeting and minimizing their tax obligations? In search of answers, we analyzed the 50 states and the District of Columbia in terms of real-estate..."

WalletHub says that if you own a $280,000 home in Illinois the property tax would be about $5,960 for that same home in Illinois' neighboring states the property taxes would be $2,562 in Missouri, $2,173 in Indiana, and $2,258 in Kentucky. What is really alarming is that states like Florida, Arizona, and South Carolina where the weather is wayyy better than the weather in Illinois all have drastically lower property taxes. To see the complete list for yourself, click here! 

Is Illinois doomed?

Illinois is losing population, and I don't blame people for leaving. Illinois is a great state with lots to offer, but if you can live for way cheaper somewhere else that has year-round better weather, why would you pay MORE to stay in Illinois? It is a question the leaders of the Land of Lincoln must ask themselves, and fix this problem ASAP!

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