71 Hills and Dales Road, Barrington | Zillow
71 Hills and Dales Road, Barrington | Zillow
Illinois' highest-in-the-nation property taxes are eroding home equity and depressing home values across the state. This report is part of a SYHN News Service series on recent home sales that demonstrate the consequences.
The home: 71 Hills and Dales Road, Barrington
The 4,000-square-foot home has 3 bedrooms, 5 baths, a barn with electricity, a brick driveway and two master suites. It sits on the waterfront.
The seller: Ronald McLaughlin
The purchase: In May 1995, McLaughlin paid $645,000 for the home, or roughly $1.06 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, McLaughlin sold the home for $520,000 on Dec. 27, or approximately $544,686 less than the original purchase price, in today's dollars.
McLaughlin listed the home for sale at $549,900 in November 2018.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, McLaughlin paid $253,336 in property taxes between 2000 and 2017, or an estimated 49 percent of the sale price.
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The Financial Facts in Today’s Dollars
| Seller's Purchase Price | Amount Home Sold for in 2019 | Seller’s Property Taxes |
| $645,000 | $520,000 | $253,336 |
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