Lack of property tax relief unconscionable

Despite the third consecutive year of falling home prices, our elected officials have failed to reduce property taxes. For governing bodies not to consider tax relief is bad enough, but for them to raise taxes is unconscionable.

It’s time for property owners to voice objections to out of control spending and unacceptable budget reform. As home values continue to sink with an estimated 3 year accumulative loss of 30-50 percent, does anyone in government pay attention to the increased foreclosures and the “baby boomers” moving out of DuPage County and the state?

Increased taxes help to push struggling homeowners into foreclosure. Understandably the housing market collapse has negatively impacted sales tax and income tax; however, taxing bodies cannot continue to place the financial tax burden on the property owner. You cannot tax your way out of an economic downturn.

Why have assessments not reflected the plunging home prices from late 2008 through 2011? Assessments are based on property sales data (fair market value) from the past three calendar years. We have waited for three years and our taxes are still going up. Homeowners should not have to pay taxes based on “peak values” before new assessments reflect plunging prices. The township assessors and the over 390 taxing bodies must be held accountable.

As taxpayers we cannot accept the demand for more and more of our discretionary income for taxes. We need full visibility and complete justification for all expenditures. An estimated 72 percent of our property taxes are collected for public schools, which have escaped serious scrutiny.

As voters and tax payers we must respond or we will continue to have a second perpetual mortgage called the “annual property tax.” I am making every effort to appeal my 2011 taxes ... who’s with me?

Ron Stacy

Bloomingdale