The story of a Chicago Area Mayor who is moving his family because of taxes.
https://zerohedge.com/news/2018-08-01/leaving-illinois-how-simple-math-chased-away-village-mayor-his-family
The article details the arithmetic that prompted the decision.
Brings some interesting questions. What brought you to where you are living now? Will this be your retirement home/location? Will the cost of living in the area affect your future decisions?
We have moved 22 times. In the pre-retirement years, decisions were made due to promotions and the cost of living ranged from very high to very low.
Upon retiring, the cost of living became the number one priority. While we still live in Illinois, (30 years later) the tax and cost of living savings between our current location and our previous location in today's dollars, closely approximate the total savings projected in the article.
Our pre-retirement home was near Naperville Illlinois. We now live in Peru, Il... Median household income in Naperville is $117K vs. $51K in Peru. Median Home value in Naperville $421K, in Peru, $161K.
The town are 63 miles apart.
https://zerohedge.com/news/2018-08-01/leaving-illinois-how-simple-math-chased-away-village-mayor-his-family
If there was one guy you’d think wouldn’t succumb to the pressures of living in Illinois, it’s Lakewood Mayor Paul Serwatka.
He’s a reformer and a fighter. In the past year he’s succeeded where most politicians refuse to go. He lowered the Village of Lakewood’s property taxes by 10 percent and eliminated a TIF district, going against the trend of higher spending and bigger tax bills in communities across the state. And he did all that without cutting services. He was showing Illinoisans what reform-oriented leadership could look like.
But every family that’s chosen to flee Illinois in recent years hit a breaking point and Serwatka finally hit his. For him, it was the risk he wouldn’t be able to care financially for his growing family
The article details the arithmetic that prompted the decision.
Brings some interesting questions. What brought you to where you are living now? Will this be your retirement home/location? Will the cost of living in the area affect your future decisions?
We have moved 22 times. In the pre-retirement years, decisions were made due to promotions and the cost of living ranged from very high to very low.
Upon retiring, the cost of living became the number one priority. While we still live in Illinois, (30 years later) the tax and cost of living savings between our current location and our previous location in today's dollars, closely approximate the total savings projected in the article.
Our pre-retirement home was near Naperville Illlinois. We now live in Peru, Il... Median household income in Naperville is $117K vs. $51K in Peru. Median Home value in Naperville $421K, in Peru, $161K.
The town are 63 miles apart.
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