Property taxes going up as real estate values going down

A recent study shows that even though the value of real estate in theChicagoarea has gone down during the past four years, the rate of property taxes has increased.  The study, conducted by the Civic Federation, a Chicago watchdog group, shows that even though homes are worth less than they were several years ago, homeowners are paying more each year in taxes.  Some areas have seen a twenty percent increase in property taxes as the homes decline in value.

For the complete story you can read, “Rising property taxes could prompt a run on pitchforks.”