[francisofascii]

Which is a good thing. Higher property taxes leads to lower, more realistic real estate prices for new buyers. See Prop 13.

[selectodude]

The issue with Chicagoland isn't the property taxes currently, it's the uncertainty on the guaranteed raises that will occur. Sure, you can buy a $650,000 house in the city and pay $13k/yr in property tax, but that might go up to $20k/yr at which point you're underwater on your mortgage and spending an extra $800/mo.

I have the money to buy and the day the city files for bankruptcy and restructures their pensions is the day I purchase. But not a second sooner.

[lotsofpulp]

It’s only a good thing if higher property taxes lead to investments in government services and infrastructure.

It’s a bad thing if higher property taxes go towards paying down disproportionate levels of debt.