Property taxes jump, and jaws drop – Dennis Rodkin – Chicago Real Estate Daily

The property tax bill on Jeff and Roberta Price’s Lincoln Park home was about $400 in 1977, the first year they lived there. It’s been going up ever since, but rarely with the jolt of this year’s 63 percent increase.

The increase, from $8,652 to $14,104, has the couple reconsidering their plan to retire in the Kenmore Avenue home where they raised their kids. They’re looking at homes in Indiana “as a backup plan” for the time when Roberta retires in a few years, said Jeff Price, who is already retired.

Read More…http://www.chicagobusiness.com/realestate/20160728/CRED0701/160729844/property-taxes-jump-and-jaws-drop