Lake County Realtors should prepare now for the coming housing boom. There will be no housing slump here once Chicago and Cook County residents see their future tax bills. Will they be heading for the border, or what?
The Hound sure is glad his dog house isn't south of Lake-Cook Road because he can already hear the howls of taxpayers in Cook County and Chicago.
Cook County Board President Todd "Urkel" Stroger wants to hike property taxes, gasoline taxes, Loop parking taxes and the county sales tax. The sales tax alone would jump from .75 percent to 2.75 percent. The parking tax would leap 100 percent, which means for commuters, perhaps some from Lake County, the tax hike goes from $20 a month to $40 a month. The gas tax would double, from six cents to 12 cents a gallon; property taxes would go up an additional 2.8 percent.
If you live in Chicago, you get a double-whammy because Mayor Richard M. "Hizzoner Jr." Daley wants to raise property taxes, which on a home assessed at $250,000 would mean a $100 annual tax bump. He's also eyeing about a dozen other taxes and fees, including a 10-cent levy on bottled water and a tax on pop.
So, county realtors should prepare for the land rush.
And by the way, Lake County elected officials shouldn't be getting any ideas from what's going on south of the county line. One could find oneself taxed out of office.