Chicago skylines

Michael Markellos and his mother own a 10-unit apartment complex in Chicago. He said his tax bill last year for all 10 units combined was $ 23,674. This year, the bill is $ 128,282 dollars, up 440 percent. “I was outraged. These are basically simple one-bedroom units for college graduates who work downtown,” said Markellos. “They would have to pay $ 5,000-$ 6,000 to pay the bills. No one in their right mind will pay that.” A local TV station asked the tax assessor’s office why the bill had gone up. A spokesperson said the office had previously assessed multi-unit apartment buildings as commercial properties. It now considers them residential properties.

The post Brickbat: Want To Know Why the Rent Is Too Damn High? appeared first on Reason.com.

View Article Here Taxes | Reason Archives