USA | fezman - 2/8/2026 14:48
Very few of you must own rental properties. The price of rent has gone up because real estate taxes in Illinois have gone through the roof. Insurance has tripled. Very common that county taxes and insurance in our neck of the woods is over $1000 a month on a rental house. Everyone wants to blame the landlord, but we need to reign in local government budgets, too. Everything we deal with has inflated including plumbers, repairs, then having to deal with every small town pencil pusher. Had one stop by and told us we needed a permit to repaint the inside of the house , and they wanted to know how many square feet it was as they charged by the square foot. Told them not so nicely to take a hike, I’ll quit painting and let it look like hell before I play those games. It’s a k shaped economy because half work and the other half watch and complain. Then you get the fun of dealing with tenants on top of it, but as always, the other guy has it made.
Sounds like you have a local taxing problem if your Re taxes have went through the roof. County I live in has PTEL, caps taxing body revenues to CPI as long as the taxing body is only in one county.. Would guess most houses have little to no Re tax increase every year , as Farmland picks up more of the total RE tax bill every year, with it's yearly increase.
Edited by coup 2/8/2026 16:05
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K shaped economy
