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posted: 7/14/2013 5:00 AM

Tax increases result of pension problem

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Tax increases result of pension problem

Think we have not been enslaved by our employees? The naval term is mutiny. I recently managed to sell a three-bedroom residential rental, so I have financial records handy -- quite interesting. In 1988, the rental was $600/month, and now it's at $1200/month. It would be tough to fill; this is an indicator of incomes and wages available for housing (double at best).

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Meanwhile, during that time, the annual property tax went from $1015 to $3797 (3.7 times higher). Broken down, River Trails Elementary District went from $345 to $1478 (over 4 times) while enrollment increased from 1,227 to 1,377. High School District 214 taxes increased from $241 to $887 (3.7 times). River Trails Park District from $43 to $241 (5.5 times).

These increases are local taxpayer costs which underlie the well-publicized Illinois pension problem. Recent contract announcements seem to indicate the cost escalation is continuing/resuming. PR releases are hinting at another whammy coming on property taxes.

In 1988, people had jobs -- remember Searle Labs, Boggies? -- teachers taught, kids absorbed as much as they wanted, and college was completed without years of servitude due to student debt. Was 1988 the "good old year"? Do we need a seat at the negotiations table? Lord (pardon the expression), help the young!

David Horneys

Mount Prospect

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