Who Pays America’s Highest (and Lowest) Property Taxes? - Yahoo Homes

 

Who Pays America’s Highest (and Lowest) Property Taxes?

By Camille Salama April 9, 2014 12:31 PM

The second biggest cost of home ownership — following the mortgage — is usually property taxes. In 2012, U.S. homeowners paid an average of about $2,800 in property taxes, according to a recent Zillow study. And if you live in New York, New Jersey, or Colorado your taxes were in some cases five times more than the national average. The numbers are based on an average of real estate taxes paid on single family housing in 2012.

The residents of Westchester County in New York pay more in property taxes than the typical resident of any other major American county. The average property tax bill for a single family home in Westchester County comes to $14,829 a year.

Want to know how your county stacks up against the rest of the country? Check out our rankings below.

Adjusting for the average cost of single-family homes in each county, homeowners in Allegany County, NY win the award for the highest property tax burden. The average tax obligation of $2,549 in Allegany County amounts to 3.8 percent of the average single family home value; in Westchester County, the average tax obligation is slightly lower, at 2.5 percent of the county’s average home value. Nationally, the typical homeowner is spending approximately 1.4 percent of their home’s value on annual property taxes. See the full rankings below.

Highest Property Taxes as a Percent of Home Value

1. Allegany County, NY (3.76%)
2. Milwaukee County, WI (3.68%)
3. Kendall County, IL (3.57%)
4. Sullivan County, NY (3.56%)
5. Orleans County, NY (3.49%)

Lowest Property Taxes as a Percent of Home Value

1. Caroline County, VA (0.17%)
2. Catahoula County, LA and Randolph AR (0.2%)
3. Iberville County, LA and Cumberland County, TN (0.21%)
4. Butler County, PA and Maui County, HI (0.22%)
5. Elmore County, AL and De Soto County, LA (0.23%)

Who Pays America’s Highest (and Lowest) Property Taxes? - Yahoo Homes

Mortgage less than taxes

The following house is for sale in the Capron area.  30 year fixed mortgage payment with 20% down is $319 per month.  The taxes are $4,121.78 per year or $343.48 per month.  See it at:  http://www.homefinder.com/IL/Capron/155-Harvest-Moon-97678828d

The Belvidere Daily Republican Featured News

Sons of American Revolution induct new members

Nov. 24, 2013

ROCKFORD – The Kishwaukee Chapter of the Sons of the American Revolution (S.A.R.) held their annual meeting on Nov. 16 in Rockford.

The Chapter was honored to have the Illinois Society S.A. R. President, Bruce Talbot of Bolingbrook, Ill. present for the event, to conduct official ceremonies, and deliver the key-note address.

President Talbot inducted two new members, R. Nathan Bliss of Rockford, and Mark Kaletka of Batavia.

The primary purpose of the S.A. R. organization is declared to be patriotic, historical and educational. Membership is open to any man, at least 18 years of age, who is a lineal descendant of an ancestor who was loyal to, and rendered actual service, in the cause of American Independence during the Revolutionary War.

The Kishwaukee Chapter is headquartered in Belvidere, but includes several counties in north central and northwestern Illinois.

 

Boone County real estate transactions recorded Nov. 12

Nov. 24, 2013

BOONE COUNTY - Following is a list of the Boone County real estate transactions recorded during Nov. 12-15.

Recorded Nov. 12

1248 Candlewick Dr. NW, Poplar Grove, $245,000, Patrick C. Brady and Christine E. Brady to Robert Hayes and Kathryn Hayes.

7555 Garden Prairie Road, Garden Prairie, $550,000, LUSYD Acres, Inc. to 7555 Garden Prairie, LLC.

311 W. Perry St., Belvidere, $72,000, Louis R. Morrall, trustee, to Albert and Susan Williams.

12847 Prairie Meadow Way, Belvidere, $195,000, Andrew Dallas Hutchison to James T. and Evelyn A. Palek.

Recorded Nov. 13

1727 13^th Ave., Belvidere, $60,100, Secretary of HUD to Jeannette Knutson.

114 King Henry Road SE, Poplar Grove, $90,500, Keith Kelly to James G. Origer and Mary C. Origer.

1132 Kishwaukee St., Belvidere, $81,851, Intercounty Judicial Sales to Secretary of HUD.

Recorded Nov. 14

302 Edson St., Poplar Grove, $130,500, Federal Home Loan Mortgage Corp. to Rodney L. Wilken.

2329 Malmaison, Belvidere, $315,000, Federal National Mortgage Assoc. to Sergio and Heather Velazquez.

418 W. Perry St., Belvidere, $65,000, Marion J. Downey to Amy L. Ortiz.

Recorded Nov. 15

17 King Henry SE, Poplar Grove, $90,837, Bank of America, NA to Bank of America NA.

157 Hastings Way SW, Poplar Grove, $77,400, Federal National Mortgage Assoc. to Leonardo Oliveira.

824 Allen St., Belvidere, $47,000, Derby Run LLC to Pedro H. Banuelos.

414 Wren Lane, Caledonia, $370,000, Kimberly Mackenroth and Danny Cessop to Harneet S. Bath and Komaljit Bath.

 

Hearings on property assessments to start Dec. 2

Nov. 24, 2013

BELVIDERE - The Boone County Board of Review will begin hearings on the 2013 appeals of property assessments on Dec. 2 at 9 a.m.  Hearings will continue on Dec. 5-6 at 9 a.m., and if further hearings are necessary, more dates will be scheduled.

The Boone County Board of Review has the responsibility to hear complaints from property owners concerning the valuation of their property based on the market value or the use of the property.

Residential appeal forms are available in the County Assessor’s office, 1208 Logan Ave., Belvidere or online at http://www.boonecountyil.org/content/bor-residential-appeal-form.

Phone 815-544-2958 with any questions.

 

Capron Rescue seeks new station in Candlewick Lake area

Nov. 24, 2013

By Bob Balgemann

BOONE COUNTY - Capron Rescue Squad District has a new station on Poplar Grove Road and is renovating what used to be the main office in Capron.

Now officials are looking at the possibility of a third station, to help serve the southern end of the sprawling, 144-square-mile district. Sites in and around Candlewick Lake and the village of Timberlane are among the possibilities.

Owen Costanza, president of the district board of trustees, said that before he was appointed to the board there had been talk with Candlewick Lake officials about having a station in that area.

"They offered us space along (Illinois 76), but that was before my time," he said. "In my view, there's too much traffic around there."

Beyond that, he said Candlewick Lake owns property off Dawson Lake Road, on the south side of that community, which connects Caledonia Road and Route 76. "That would be a good place for a building," he said.

Just under 50 percent of the rescue squad's calls come from within Candlewick Lake.

The squad has money in its budget to explore locating a third station.

Costanza said he has asked Tony Stepansky, assistant chief of the squad, to renew that search.

Capron Rescue is transitioning to a paid on premises service, in an effort to improve response time. That means paramedics and EMTs, when on duty, must be at or in close proximity to the station. Before, they just had to be somewhere in the district.

Personnel since earlier this year have been able to spend all of their shift in the new station, a two-story, former farmhouse on the west side of Poplar Grove Road, just south of Quail Trap Road. Soon, they will be able to sleep over at the Capron station, too.

Stepansky said he is doing the due diligence on the search for a third station. "We're looking at 2014 to build or do something like we did in Poplar Grove," he said. "We want to be sure it's in the right place to do the most good."

Investment policy

POPLAR GROVE - There was a time several years ago when the village was $500,000 in the red. Now it is showing a surplus and officials are talking about the possibility of investing some or all of it.

There is disagreement as to whether that should happen.

Trustee Jeff Goings said at the October village board meeting that he thinks the two loans on the books at Poplar Grove State Bank should be paid off before any investing is done.

But village treasurer Maria Forrest said those loans are water and sewer debt, which would require the general fund to loan the money to the water and sewer fund to retire the bonds.

Still another view came from Trustee Bob Fry, who's also chairman of the village's finance committee. He thought the village could make more money by paying off the bonds than leaving the extra money sit in the bank.

He added that the village has worked hard to reach the point that it has six months worth of operating capital in the bank. That means it has enough money to run the town for six months if its revenue streams were severed. "A lot of municipalities have gotten into trouble because they didn't have any savings," he said.

While nothing definite was decided, Trustee Ron Quimby observed, "It all goes back to building blocks. This (issue) is part of the foundation."

Read the current Featured Stories by clicking on the following:  rvpnews | Belvidere Daily Republican

Boone County real estate transactions recorded during July 22-26 | Belvidere Daily Republican

 

Boone County real estate transactions recorded during July 22-26

Written by Administrator Both comments and pings are currently closed.

BOONE COUNTY – Following is a list of the Boone County real estate transactions recorded during July 22-26.

Recorded July 22

207 Bear Dusk Way, Belvidere, $135,000, Jose G. Vasquez, MKM Rental, LLC.

8477 Center Court, Belvidere, $150,300, Albert W. Williams and Susan J. Williams to Mariusz Maka.

1115 9th Ave., Belvidere, $40,000, NationStar Mortgage, LLC to Equity Trust Co.

157 Rivers Edge Dr., Unit 34A, Cherry Valley, $147,000, Thomas G. and Suzanne L. Williams to Dennis and Lisa Johnson.

Recorded July 23

1348 Caswell St., Belvidere, $77,000, Steve Neubert, Executor, to Jennifer Koehn.

503 W. Lincoln Ave., Belvidere, $161,971, Judicial Sales Corp. to Secretary of HUD.

4442 Countryside Estates Dr., Poplar Grove, $55,400, Federal National Mortgage Assoc. to Susan Burton.

Recorded July 24

120 Ogden St., Belvidere, $79,000, Adam E. Tegen and Jenny L. Tegen to Emanuel L. Bud and Thelma S. Bud.

1375 Willowbrook Dr., Belvidere, $73,101, Judicial Sales Corp. to American Homes 4 Rent Properties Five, LLC.

4214 Hearthstone Ave., Belvidere, $68,001, Judicial Sales Corp. to American Homes 4 Rent Properties Five, LLC.

Recorded July 25

131 Pembroke Road SW, Poplar Grove, $2000, Dennis J. Moss and Sheila A. Moss to Roger W. Fidder and Mark A. Fidder.

1586 Kirby Ct., Belvidere, $280,107, Specialized Loan Services LLC to Seven Oaks Consulting and Management LLC.

12732 Vestas Place, Belvidere, $265,000, Ronald W. Allen and Donna L. Allen, trustees, to Michael C. Morris and Kristi E. Morris.

1535 Maryland Court, Belvidere, $90,000, Secretary of HUD to Miguel Zepeda.

1004 Logan Ave., $40,100, Federal National Mortgage Assoc. to Sabahudin Ejub and Atjena Ejub.

Recorded July 26

Vacant Land, River Bend, $856,845, Susan-Mijanovich-Key Trust to Grant 5 LLC.

608 E. Locust St., Belvidere, $84,900, 1st Property Investments, LLC to Jeremy S. Havens.

1586 Kirby Court, Belvidere, $280,107, Seven Oaks Consulting and Management, LLC to Paul C. Stahmann and Emily W. Stahmann.

107 Gables Dr., SW, Poplar Grove, $37,555, Secretary of Housing and Urban Development to Adriana De Loera.

1208 S. State St., Belvidere, $38,000, Secretary of HUD to Christopher A. Jones and Shana Runge.

530 E. Lincoln Ave., Belvidere, $108,498, Intercounty Judicial Sales to Secretary of HUD.

150 Sundance Trail, Capron, $174,496, Judicial Sales Corp. to Secretary of HUD.

Taken from:  Boone County real estate transactions recorded during July 22-26 | Belvidere Daily Republican

Lisa Madigan says $70 million will help ease foreclosure woes - Rockford, IL - Rockford Register Star

 

The geographic scope of this award includes Winnebago County, Boone County, Ogle County, Stephenson County, Whiteside County, LaSalle County, Lee County, Jo Daviess County, Carroll County and DeKalb County.

Purpose: Homestart and its partners will redevelop properties in three neighborhoods within Rockford, Freeport and Belvidere. Additionally, the money will support a pilot foreclosure mediation court program and a resource center providing counseling, financial literacy and other housing-related education.

Read the entire article by clicking on the following:  Lisa Madigan says $70 million will help ease foreclosure woes - Rockford, IL - Rockford Register Star

Average Property Tax Rates and Homeowners’ Bills in McHenry County |

Will people continue to come to Boone County to escape the high taxes of McHenry County? 

Well that may be very dependent upon where in McHenry they currently live.

Here are McHenry County’s rates:

Property tax rates in McHenry County ranked from highest to lowest. Calculated by Algonquin Township Assessor Bob Kunz.  Click to enlarge.

The average tax for each community are as follows, keep in mind the higher McHenry County value of real estate makes the actual taxes higher than in Boone County.

Very interesting is the fact that lowest tax rate is for the community with the highest income—Barrington Hills—the village ranks 87th on the list of highest-income places in the United States (Wikipedia)

• Fox River Grove – $7,001
• Woodstock – $6,819
• McCullom Lake – $6,654
• Harvard – $6,469
• McHenry – $6,349
• Cary – $6,225
• Bull Valley – $6,130
• Marengo – $6,085
• Crystal Lake – $6,083
• Lakemoor – $6,081
• Island Lake – $6,026
• Holiday Hills – $6,009
• Richmond – $6,005
• Wonder Lake – $5,987
• Oakwood Hills – $5,937
• Trout Valley – $5,906
• Cary (unincorporated) – $5,906
• Hartland Township (unincorporated) – $5,903
• Lake in the Hills – $5,872
• Lakewood – $5,834
• Seneca Township (unincorporated) – $5,825
• Prairie Grove – $5,815
• Fox Lake – $5,779
• Port Barrington – $5,788
• Greenwood – $5,721
• Algonquin – $5,666
• Spring Grove – $5,551
• Huntley – $5,501
• Cary (unincorporated) – $5,458
• Riley Township (unincorporated) – $5,380
• Dunham Township (unincorporated)- $5,332
• Union – $5,310
• Algonquin Township (unincorporated) – $5,301
• Johnsburg – $5,223
• Hebron – $5,203
• Hebron Township (unincorporated) – $5,203
• Coral Township (unincorporated) – $5,401
• Ringwood – $5,035
• Alden Township (unincorporated) – $4,780
• Barrington Hills – $4,630

THE ABOVE IS TAKEN FROM Cal Skinner’s McHenry County Blog:  Average Property Tax Rates and Homeowners’ Bills in McHenry County |

Real estate taxes greater than mortgage?

Well not quite, take a look at this house for sale in Belvidere.   With a 20% down payment the monthly payment of $388 or 4656 per year is $12 more than the $4,644  in 2011 taxes.  

This is currently available at: http://rockfordil.prustarckrealtors.info/details/start.aspx?PropId=169R000072436&vip=PruREfooter

 

Here is one that makes it.  Monthly mortgage $257 or $3,084 per year taxes 2011 $3,396 or taxes $312 more than annual mortgage payment.

From:  http://rockfordil.prustarckrealtors.info/details/start.aspx?PropId=169R201301066&vip=PruREfooter

 

Incumbent Township Assessor ready to finish what she started | Belvidere Daily Republican

Written by Natalie Conover

She is eager to talk about the improvements she has made since taking office in January 2010, including reducing residential property assessments by 32%, as well as locating and listing over twelve million dollars of omitted property that was never before listed on the tax rolls.

“This omitted property is extra money,” Helnore said. “The amount is around $450,000 direct tax dollars every year.” What does this mean for tax payers? A fairer distribution of everyone’s tax burden.

Click on the following for more details:  Incumbent Township Assessor ready to finish what she started | Belvidere Daily Republican

America's Most Miserable Cities, 2012 - Yahoo! Real Estate

Scoreboard:  3 Michigan cities; 3 Florida cities; 2 Illinois cities; 1 each for California and Ohio

We looked at 10 factors for the 200 largest metro areas and divisions in the U.S. Some are serious, like violent crime, unemployment rates, foreclosures, taxes (income and property), home prices and political corruption. Other factors we included are less weighty, like commute times, weather and how the area’s pro sports teams did

10. Warren, MI The housing market collapsed in the Warren metro area, which includes Troy and Farmington Hills. The median home price is down 50% over the past three years, the second biggest drop in the U.S. after Detroit.

#9. Rockford, IL  Property tax rates were fifth highest in the country in 2010. The median tax bill was $3,234 on home values of $136,000 for a rate of 2.4%.

8. Toledo, OH The city is ensnared in a scandal within its Department of Neighborhoods that involves alleged bid rigging and stolen funds. The FBI and U.S. Department of Housing and Urban Development are investigating the crimes. Toledo scores poorly when it comes to income and property tax rates.

7. Fort Lauderdale, FL The spring break mecca has been hit hard by the housing downturn. Median home prices in the metro division that includes Pompano Beach and Deerfield Beach are down 50% since 2006 to a recent $183,000.

6. Chicago, IL The Windy City is a cultural and financial center, but its residents must endure gridlock traffic, high property taxes and brutal winters. Commute times to work average 31 minutes, eighth worst in the U.S.

5. Sacramento, CA Sacramento’s lone pro sports team is flirting with a move to Anaheim unless the city delivers financing for a new arena. Sac-Town might not miss them. The team has lost 73% of its games since the start of the 2008-09 season. Foreclosures in California's capital were among the 10 highest last year.

4. West Palm Beach, FL South Florida has long been stained by corruption. One of the latest examples: Jose Rodriguez, the mayor of Boynton Beach (part of the West Palm metropolitan division) was suspended from his office last month by Gov. Rick Scott after he was arrested for allegedly using his position to obstruct a child abuse probe involving his wife's estranged daughter. Home prices in the West Palm area are off 50% since 2006.

3. Flint, MI Flint razed 775 abandoned homes in the year ending October 2011, to try and change the city landscape. The state of Michigan appointed an emergency manager last year to take over Flint's budget and operations. Crime remains a severe problem with the violent crime rate the third worst in the U.S.

2. Detroit, MI Detroit has closed schools and laid off police in an effort to avoid a bankruptcy filing this year. Home prices are down 54% the past three years, worst in the U.S. The median price was $38,000 last year in the Detroit-Livonia-Dearborn metro division.

1. Miami, FL  The housing crisis has devastated Miami with 47% of homeowners sitting on underwater mortgages. Foreclosures have been rampant with 364,000 properties in the Miami area entering the foreclosure process since 2008 according to RealtyTrac.

.

Click on following for the details:   America's Most Miserable Cities, 2012 - Yahoo! Real Estate

Funderburg family's Boone County farmland auction nets $24.6M

Athans, sitting up front right next to the auctioneer, was aggressive from the start and ended up winning 2,403 acres for a purchase price of $18.5 million. In all, 12 people or farm businesses won parcels for a total price of $24.6 million.

It’s highly likely that today was the biggest farmland sale in local history, easily surpassing the $17 million paid by Union Pacific to four Ogle County farming families for 1,175 acres near Rochelle in 2001. The railroad needed that land to build the Global III intermodal facility.

Click on the following for more details:  http://www.rrstar.com/news/x1425131871/Funderburg-familys-Boone-County-farmland-auction-nets-24-6-million

Is your house underwater?

Schrader’s Auction of Funderburg Farm Properties

Owner: K-B Farms, Inc. & Funderburg Farms, Inc.

• 2,900 Acres Tillable • Productive Soils • Minutes from Rockford, IL & I-90 • Large Contiguous Tracts • Excellent Hunting • Investment Potential • Possession for the 2012 Crop Year

OPEN HOUSE/INSPECTION DATES
Monday, October 17, 5-7pm
Tuesday, October 18, 10am - Noon
Thursday, November 3, 5-7pm
Friday, November 4, 10am - Noon
Friday, November 18, 3-5pm
at the Community Building Complex of Boone County. Meet a Schrader Representative for Additional
Information and with any Questions You May Have.
PROPERTY LOCATION
See Area Map for Property Locations.
AUCTION LOCATION
Community Building Complex of Boone County. Address: 111 W. 1st Street, Belvidere, Illinois 61008 Phone: 815-547-3928 begin_of_the_skype_highlighting 815-547-3928 end_of_the_skype_highlighting
PROPERTY DESCRIPTION
You may bid online during this auction at www.schraderauction.com. You must register by November 11th to bid online. For information on registering for online bidding, call Schrader Auction Company at 800-451-2709 begin_of_the_skype_highlighting 800-451-2709 end_of_the_skype_highlighting.
TRACT DESCRIPTIONS
Tract 1: 82± ac Mostly Tillable with frontage on Huber Rd.
Tract 2: 58± ac Mostly Tillable with frontage on Huber Rd.
Tract 3: 68± ac Mostly Tillable with frontage on Reeds Crossing Rd.
Tract 4: 43± ac Mostly Tillable with frontage on Huber Rd.
Tract 5: 41± ac Mostly Tillable with Woods in Northeast Corner and Frontage on Huber Rd.
Tract 6: 142± ac Mostly Tillable with frontage on Reeds Crossing Rd.
Tract 7: 33± ac Mostly Wooded Acreage with Excellent Hunting and Frontage on Huber Rd.
Tract 8: 75± ac Mostly Tillable with frontage on Reeds Crossing Rd.
Tract 9: 4± ac Country Home with 3BR, 1-1/2 bath home with 1,480 finished sq. ft. and attached 2-car garage built in 1975.
Tract 10: 2.5± ac Potential Building Site with Frontage on Reeds Crossing Rd.
Tract 11: 210± ac Mostly Tillable with frontage on Reeds Crossing Rd.
Tract 12: 171± ac Mostly Tillable with frontage on Reeds Crossing Rd.
Tract 13: 59± ac Mostly Tillable with frontage on Reeds Crossing Rd.
Tract 14: 27± ac Mostly Tillable with frontage on Genoa Rd.
Tract 15: 135± ac All Tillable Productive Farm Land with Frontage on Grange Hall Rd.
Tract 16: 86± ac Mostly Tillable with Meandering Piscasaw Creek running through northwest corner and Frontage on Grange Hall Rd.
Tract 17: 21± ac Potential Building Site with Frontage on Grange Hall Road. Tillable Land
Tract 18: 2± ac Country Home - 2 story, 3BR home with 1,870 finished sq. ft. and 2 car detached garage.
Tract 19: 19± ac Mostly Tillable with frontage on Grange Hall Rd.
Tract 20: 93± ac Mostly Tillable with frontage on Russellville Rd. and Woodstock Rd.
Tract 21: 80± ac All Tillable with Frontage on Woodstock Rd.
Tract 22: 4± ac Country Home - 2 story, 5BR home with 2,010 finished sq. ft. and 2 car detached garage.
Tract 23: 156± ac All Tillable with Frontage on Woodstock Rd.
Tract 24: 40± ac All Tillable with Frontage on Russellville Rd.
Tract 25: 77± ac All Tillable with Frontage on Russellville Rd.
Tract 26: 2.5± ac Country Home - 1-1/2 story, 4BR home with 1,264 finished sq. ft. and 2 car detached garage.
Tract 27: 77± ac Mostly Tillable with Frontage on Poplar Grove Rd.
Tract 28: 73± ac Mostly Tillable with Woods in Back. Excellent Hunting and Frontage on Poplar Grove Rd.
Tract 29: 99± ac Mostly Tillable with Some Pasture and Piscasaw Creek on west end. Frontage on Grange Hall Rd.
Tract 30: 111± ac All Tillable with Frontage on Kelley Rd.
Tract 31: 39± ac Mostly Tillable with frontage on Kelley Rd. and Caledonia Rd.
Tract 32: 95± ac Mostly Tillable with frontage on Beloit Rd. and Dawson Lake Rd.
Tract 33: 117± ac Mostly Tillable with Frontage on Russellville Rd.
Tract 34: 20± ac Potential Building Site with 10+/- Acres Woods for Hunting/Recreation
Tract 35: 49± ac Mostly Tillable with frontage on Russellville Rd.
Tract 36: 40± ac Mostly Tillable with Frontage on Russellville Rd.
Tract 37: 26± ac Country Home and Woods with Frontage on Russellville Rd. - 2 story, 3BR home with 1,344 finished sq. ft.
Tract 38: 92± ac Mostly Tillable with Frontage on Russellville Rd.
Tract 39: 81± ac Mostly Tillable with frontage on Edson Rd.
Tract 40: 64± ac Mixture of Tillable Land and Woods with Frontage on Burr Oak Rd.
Tract 41: 95± ac Mostly Tillable with frontage on Hwy. 173
Tract 42: 70± ac Mixture of Tillable Land and Woods with Frontage on Cemetery Rd.
Tract 43: 80± ac Mostly Tillable with frontage on Cemetery Rd.
Tract 44: 107± ac Mostly Tillable with frontage on Wang Rd. and Mill Rd.
Tract 45: 43± ac Mixture of Tillable Land and Woods with Frontage on Wange Rd.
Tract 46: 75± ac Mostly Tillable with Frontage on Cemetery Rd.
Tract 47: 79± ac Mostly Tillable with Frontage on Wange Rd.
Tract 48: 40± ac Mostly Tillable with Frontage on Wange Rd.

The following is taken from:  http://www.schraderauction.com/auctions/5361

There are signs and Tract #’s across the county.

Slump Alters Jobless Map in U.S., With South Hit Hard

Several Southern states — including South Carolina, whose 11.1 percent unemployment rate is the fourth highest in the nation — have higher unemployment rates than they did a year ago. Unemployment in the South is now higher than it is in the Northeast and the Midwest, which include Rust Belt states that were struggling even before the recession.

Unemployment remains high across much of the country — the national rate is 9.1 percent — but the regions have recovered at different speeds.

Now, with the concentration of the highest unemployment rates in the South and the West, some economists and researchers wonder if it is an anomaly of the uneven recovery or a harbinger of things to come. ….

West has the highest unemployment in the nation. The collapse of the housing bubble left Nevada with the highest jobless rate, 13.4 percent, followed by California with 12.1 percent. Michigan has the third-highest rate, 11.2 percent, as a result of the longstanding woes of the American auto industry. …

Brookings analysis, which found that many auto-producing metropolitan areas in the Great Lakes states are seeing modest gains in manufacturing that are helping them recover from their deep slump, while Sun Belt and Western states with sharp drops in home values are still suffering. The areas that have been hurt the least since the recession, the study said, rely on government, education or energy production. Places that were less buoyed by the housing bubble were less harmed when it burst.

Click on the following for all of the story:  http://www.nytimes.com/2011/09/27/us/unrelenting-downturn-is-redrawing-americas-economic-map.html?_r=1&hp

Kane County taxpayers say assessments too low

board members told Armstrong many of the complaints are coming from people looking to sell their homes at a price point that now is not supported by the new property assessments they’re seeing.

“Well, if they don’t believe they are paying their fair share of taxes and want to pay more, then they certainly have the right to file an appeal,” a dumbfounded Armstrong said.

Read more: http://www.dailyherald.com/article/20110922/news/709229734/#ixzz1Yk6SOIrc

“Belvidere May have too many schools in five years”

To read the entire article go to:  http://www.rrstar.com/insight/alexgary/x219198780/In-Sundays-paper-Suburbs-absorb-exodus-from-Rockford

Neighboring ZIP codes absorb Rockford exodus

The latest release of 2010 census data proves what anyone driving around the Rock River Valley already knows — the population is moving.
The U.S. Census Bureau released population changes from 2000 to 2010 broken down by ZIP code. In Winnebago County, just two major ZIP codes lost population. Downtown Rockford east of the river, 61104, fell by nearly 6 percent. And 61101, which is Rockford’s northwest side, declined by 8.1 percent. And of those Rockford ZIP codes that did see population growth, not one saw even 10 percent growth.
For much of the decade, the moving vans were heading to such places as Poplar Grove and Belvidere, where populations grew by 35.8 and 17.3 percent, respectively, and Winnebago, up 20.4 percent.
…..
Both the Belvidere and North Boone school districts in Boone County felt the crunch of new families flocking to their areas. Belvidere built a new middle school and a second high school. North Boone expanded an elementary school, built a new high school and put on an addition to the old high school.
Michael Houselog was superintendent of North Boone for much of the decade and now is the superintendent of Belvidere. In the 2000-01 school year, Belvidere had 6,352 students and North Boone 1,283. By 2007, Belvidere’s student population surged to 8,728 and North Boone’s to 1,686.
But in the wake of the Great Recession, the growth rate has slowed. In 2010, Belvidere was up to 9,001 and North Boone to 1,746.
And Houselog said that unless the economy revives and people begin returning to Boone County, Belvidere is going to have too many schools within five years.
“This year, our three smallest grades are kindergarten, first and second grade,” Houselog said. “This will put it in into context. In 2005, we had more than 700 kids in kindergarten. This year we have 485.”
Still, Houselog is confident that Boone County will become a destination of choice again.
“The things that made this a desirable place haven’t changed. We have lower tax rates than what you’ll find in the Chicago area. Having (Interstate 90) coming through our county allows easy access to Rockford, Madison, Chicago,” he said. “When the economy turns, we think it’ll turn here first. The question is when.”
While the once hot growth areas wait for another boom, Krause said the aging areas of Rockford are waiting on something else — reinvestment.
“In Chicago, there are a number of aging neighborhoods that have done well because developers took industrial buildings and turned them into condos,” Krause said. “Part of the reason they took that risk is because prices in Chicago’s suburbs had increased so much that it made sense to reinvest in the older neighborhoods. That could happen here, but so many developers were hurt by the recession that few are ready to take that risk in Rockford.”
Krause said there have been some residential redevelopment success stories in Rockford, such as the Brown building downtown and the Garrison Lofts & Town Homes, but much more is needed to persuade retailers to come back as well.
Assistant Business Editor Alex Gary may be reached at agary@rrstar.com or at 815-987-1339 begin_of_the_skype_highlighting 815-987-1339 end_of_the_skype_highlighting.

Copyright 2011 Rockford Register Star. Some rights reserved

Illinois AG gets help in robo-signing investigation

July 20, 2011

By Andrew Thomason Illinois Statehouse News

SPRINGFIELD — A group of 12 county recorders in Illinois are providing documents to Illinois Attorney General Lisa Madigan for her investigation into an illicit practice relating to the national real estate and subsequent foreclosure crises, known as "robo-signing."

“Robo-signing is actually a variety of practices. It can be mortgages individuals signing a document that they have no idea of what’s contained within the document and without verifying the information,” said Champaign County Record Barb Frasca. “It can mean someone forging an executive signature on a document or using their own name on the document with a fake title.”

Madigan launched her investigation earlier this year into Lender Processing Services and Nationwide Title Clearing, two of the largest loan servicing companies in the country.

County recorders, one for each of the state’s 102 counties, are stewards of deeds and other documents relating to real estate ownership, and often receive paperwork from loan servicing and other mortgage processing companies. Josh Langfelder, Sangamon County recorder, said he and the 11 other recorders voluntarily are assembling documents for Madigan.

“They gave us a sample of documents that may be related to our investigation, and they are gathering more documents to provide,” attorney general spokeswoman Robyn Ziegler said. “We’re reviewing the information they provided.”

Ziegler would not identify the documents provided or comment on whether the initial sampling will help in Madigan’s investigation, because it is ongoing.

When the global recession hit and the real estate bubble burst, banks and other mortgage holders were flooded with foreclosures. To keep the surge of paperwork moving, some institutions disregarded safeguards that would protect homeowners, such as providing an affidavit verifying the identity of the mortgage owners.

These practices led to a temporary halt in foreclosures last fall, as sloppy paperwork turned into unnecessary foreclosures. Without proper documentation, confusion emerged over who owed what to whom.

“We want to be protective of the homeowners, people who have perchance been foreclosed on that perhaps the ownership (of the mortgage) was not clearly identified, or someone who has bought a foreclosed home,” said Rock Island County Recorder Pat Veronda.

Similar county officials in Minnesota and Massachusetts, for example, are working with their states’ attorneys general in robo-signing investigations. For example, the county recorder office for Essex County, Mass., claims to have nearly 1,200 documents with 22 different handwriting styles that all read “Linda Green,” according to the Associated Press.

"Linda Green" signatures have found their way to Illinois as well, said Glenda Johnson, chief deputy recorder for St. Clair County.

The Massachusetts example "made us look further into it. She is all over out there," Johnson said.

While companies have claimed to stop the practice of robo-signing, recent investigations by the AP and Reuters indicate this is not happening, which could prove troublesome as the rate of foreclosures refuses to drop to prerecession levels.

While foreclosure rates dropped by nearly 25 percent for June when compared with the same period this past year, they inched up by 4 percent from May, according to RealtyTrac, a company that monitors foreclosures nationwide.

Illinois had 11,014 foreclosures in June, or one in every 480 housing units, mainly in the counties surrounding Chicago. Only Michigan, Arizona, Florida and California had more foreclosures in June than Illinois

Boone County real estate transactions recorded April 4-8

 

BOONE COUNTY - Following is a list of the Boone County real estate transactions recorded April 4-8.

Recorded April 4

2107 Oakbrook Dr., Belvidere, $79,900, Michael J. Scaccio to Federico Aguado.

Recorded April 5

600 Jamestown Ave., Belvidere, $96,700, US Dept. of HUD to Hector Guzman.

Recorded April 7

885 Spring Ridge Court, Belvidere, $385,000, Carl T. and Dawn Nuccio to Carlos and Tanzee Miller.

Recorded April 8

8313 Shaw Road, Belvidere, $180,000, Ray and Joann Anderson to Richard and Terri Messling.

11606 Tyson Dr., Rockford, $280,000, Avelino and Elizabeth Dee to Kimberly A. Camm.

This legal record was taken from the Belvidere Republican:  Boone County real estate transactions recorded April 4-8

Changes in Assessments in McHenry County

The following is from Cal Skinner’s Blog:  http://mchenrycountyblog.com/2011/04/04/real-estate-tax-assessments-down-9/

McHenry County as a whole had a 9.6% decrease in assessments.  Many of the townships bordering Boone County has very large degreases:  Chemung—(13.1%); Dunham—(8.6%); Marengo—(10.3%) and Riley—(7.5%).  All of this reinforces a large decrease in Boone County.

 

McHenry County Townships.

Boone County RE Trans 1-17-2011/1-21-2011

Click on the above photocopy to enlarge.

Above was taken from The Belvidere Daily Republican Online:  http://www.belvideredailyrepublican.net/index.php?option=com_content&view=article&id=5930:boone-county-real-estate-transactions-recorded-jan-17-21&catid=108:boone-county&Itemid=510

10 Economic Benchmarks for the State of the Union and GOP Response

Interesting article from The Huffington Report—quite different from the Tea Party view.

 

1. The federal government isn't a runaway fiscal monster.

2. Main Street and Wall Street aren't "in this together."

3. The bankers who created this crisis are doing great.

4. Taxes for the wealthy are historically low.

5. Income inequality is rising, and the rich are richer than ever.

6. Corporations have never had it so good.

7. We're in a jobs depression.

8. People with jobs are hurting too.

9. Young people are being lost to unemployment

10. The housing situation? Don't even ask.

Click on the following for all of the story:  Richard (RJ) Eskow: Reality Checks: 10 Economic Benchmarks for the State of the Union and GOP Response