3 ms·
> already lost 70-80% of their value And don’t forget, property taxes are based on their value as of Jan. 1 - huge, unpayable tax bills are coming this year, t
by commandlinefan 6y ago
> already lost 70-80% of their value
And don’t forget, property taxes are based on their value as of Jan. 1 - huge, unpayable tax bills are coming this year, too.
- toomuchtodo 6y agoCook County in Illinois is reassessing property taxes for commercial real estate based on post pandemic valuations. They’re already deep in the red financially, but there is some relief for the property owner.
- Spooky23 6y agoReassessments just change the way the pie is divvied up. It makes things more equitable, it isn’t a relief unless the assessment rolls are out of whack. (Like California)
- vkou 6y agoI'm glad that taxpayers who work for a living will end up subsidizing property owners, who have other people work for their living.
- toomuchtodo 6y agoI too am dismayed. Short of being actively engaged in the political process, your only other option is to remove yourself from the jurisdiction.