Read Article

Sort by:   newest | oldest
Rick

Once an area is on a trajectory of decay. The thing to do is give a reprieve or drastically lower property tax prices to encourage redevelopment and new buyers. Letting the rates go to 10 pct or more on undesireable property will only accelerate the downward trajectory of the area. You need to make the area tax free to encourage it’s healing, then recoup in a future decade after responsible and employed folks who took the risk to buy there tax free get settled. Basic pricing economics should drive regrowth, in Illinois the collectors only see their side, and only with their cash accounting in mind.

wpDiscuz