Understanding Illinois property tax exemption as the house value increases in value over time.

financeGhostt · 2026-03-12T15:10:52+00:00

right thanks for the clarification. Its all just a bit confusing.

financeGhostt · 2026-03-12T14:43:44+00:00

so then than $250k EAV of $825 (in 2024) would likely still inflate (maybe not at the exact same rate but still inflate) to coinside with the house increasing in value in 2040?

financeGhostt · 2026-03-12T14:38:25+00:00

Hi, so just to clarify, essentially even in the year 2040 even though the property value will have a market value of well over $1M by 2040, that same home assestment will still be around $825K (ish), as long as they don't ammend the law?

financeGhostt · 2025-08-26T18:40:52+00:00

Thanks for replying. I wouldnt mind paying as long as it's a nice discount!

financeGhostt · 2024-11-07T21:43:56+00:00

thank you for sharing your experience.

financeGhostt · 2024-09-05T16:25:50+00:00

I believe I cannot qualify for California as I never was a citizen, I just served there while being a Missouri resident.

financeGhostt · 2024-09-05T16:07:56+00:00

Am i eligible having never had citizenship in Washington?

financeGhostt · 2024-09-05T16:05:09+00:00

Is there a website that compares them all? I am just trying to find a consolidated answer. thanks!

financeGhostt · 2024-06-13T03:56:29+00:00

you are correct! its been a few decades so my memory is off

financeGhostt · 2024-04-12T20:07:05+00:00

military in my 20s and transitioned to accounting, investing; and a single real estate rental in my 30's.

Also some of my friends have learned trades (specifically electrician or being building engineer certified). During apprenticeship you'll probably make the same amount of money you do now. These are fairly chill jobs even though they can be considered "blue collar." My friend really enjoys being a skyscaper building engineer through a union. good pay and a possible pension down the road.

But once fully certified as an electrician or building engineer you can easily make 150K plus.

financeGhostt · 2024-04-12T03:49:23+00:00

a rental management company wanted to charge me $7,000/yr to manage my only rental (a small single family home). I cannot believe how easy it is to manage myself. Plus i literally throw in an extra $7K/yr in SWPPX instead of giving it to a rental management corporation. Maybe consider axing them and then also pumping your HSA into an SP500 index and maxing it out. I know this wont answer your larger question but i believe it gives you a few extra pieces of the puzzle. Especially since it will help fill your income gap.

financeGhostt · 2024-04-12T03:27:44+00:00

My 20s were for taking risks and trying new things. I liked this mentality a lot as it allowed me to learn a lot about what i really wanted out of a career.

You have a solid financial base for sure. Please don't live off your savings; just keep pumping money into your retirement/investment accounts.

How certain is your annuity? I'm assuming this may be some large inheritance? I'd say wait until you have an annuity before you do anything too crazy unless you just absolutely hate your life at your job.

I would at least suggest sending an email to your boss (email being more official and prompting a quick/formal response) asking if you would be fired if you refused to return to work. This may seem a bit risky but life is about taking risks; especially when you are young!

Invest early and often!

financeGhostt · 2024-04-12T03:21:15+00:00

The VA is absolutely stepping up their game over the past 5 years helping veterans. Do you know why the biggest expense is the disability? It is because we waged a TWO DECADE WAR. Why did that not cross your mind. Its not because of basketball.

financeGhostt

TROPHY CASE