Chicago Property taxes jump, and jaws drop

Crain's Chicago Business reports:

The property tax bill on Jeff and Roberta Price's Lincoln Park home was about $400 in 1977, the first year they lived there. It's been going up ever since but rarely with the jolt of this year's 63 percent increase.

The increase, from $8,652 to $14,104, has the couple re-considering their plan to retire in the Kenmore Avenue home, where they raised their kids. They're looking at homes in Indiana "as a backup plan" for the time when Roberta retires in a few years, said Jeff, who is already retired.

"We have lived in our home for almost 39 years with the hope that we could remain here in our golden years," Jeff Price said. The increase in their tax bill amounts to about $454 a month, an amount that they can squeak out, he said, but he's aware that for homeowners who struggle financially, it won't be easy.

"I don't know how anyone can plan their life with these unconscionable increases," Price said.

Chicago progressives claim that people who complain about higher taxes are selfish. No word yet on this story from Barack Obama, Dick Durbin, or Dick Durbin's wife the lobbyist.