Forum: Property tax conundrum
July 16, 2013 10:02PM
Updated: August 19, 2013 2:15PM
As every homeowner in Illinois knows only too well, the property tax is highly regressive because it never takes an owner’s current ability to pay into consideration.
Taxing a home on what income it could yield, if sold, ignores the fact that assessed value is not currency that the owner can use to purchase groceries. Yet he or she is expected to part with sizable amounts of currency twice a year when the county’s “love letter” arrives.
No one should fear losing one’s home because of the inability to pay its property tax. What good are the public services that the property tax is supposed to fund if, by taking confiscatory measures to do so, they create the very desperation they exist to alleviate?
Richard A. Kosinski