Market Watch: Gary & Harriet Kubo lose over $160,000 on sale of Lisle home
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: 2129 Scarlet Oak Lane, Lisle
The 3,568-square-foot home has 4 bedrooms, 3 baths, a spa bathroom and a screened-in porch.
The seller: Gary M. and Harriet Kubo
The purchase: In October 1989, the Kubos paid $385,947 for the home, or roughly $771,995 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Kubos sold the home for $611,000, or approximately $160,995 less than the original purchase price, in today's dollars.
The Kubos originally listed the home for $649,900 in September 2018.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Kubos paid $236,924 in property taxes between 2001 and 2017, or 39 percent of the sale price.
The Financial Facts in Today’s Dollars
|Seller's Purchase Price||Amount Home Sold for in 2019||Seller’s Property Taxes|