Some types of governmental units, such as cities, are less dependent on the property tax than other units, such as school districts, which have no other taxing powers.
The other contributing factor is that Illinois has nearly 7,000 local governmental entities with the power to levy property taxes, more than any other state.
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(Genevieve Bookwalter / Naperville Sun) Illinois has nearly 7,000 units of local government.
That's the highest count of any state in the nation, and the runner-up is not even close.
The development pre-sold 98 percent of the condominiums including the Penthouse, which sold for a record ,500,000.
City officials have said they could maintain the same distance at half the cost, and have moved to take over the road district's duties on behalf of local taxpayers.The equalization factor ensures the tax burden is distributed fairly from township to township and is based upon Illinois Department of Revenue data.In Illinois, property taxes are the main source of income for local governmental entities (schools, municipalities, fire districts, library districts, etc.) which means the overall tax burden falls more heavily on residential property owners.Taxing bodies, including school districts, villages and the county (and many other taxing districts) determine how much they need to collect in taxes.That determines the size of the pie and the property assessment determines how the pie is cut up.
EQT is paying ~$9,000-10,000 per undeveloped acre in a bolt-on acquisition.