Find Real Estate Agents and Homes for Sale


Real Estate News --> Illinois News

Illinois spends more on education, but outcomes lag


A decrease in the property tax burden coupled with an increase in home values would further lower the effective property tax rate for Illinois homeowners, whose home values are still 10.2 percent below pre-recession levels. Since homes represent the vast ...


Archived Story

Although many other factors contribute to disparities in test scores, Virginia’s model would help to save taxpayer money and perhaps even improve student outcomes by prioritizing instruction in the public school system. Better schools raise property values Economists agree that better educational outcomes increase home valuesFack and Grenet (2010) find that an increase in public school performance of one standard deviation raises housing prices by up to 2.4 percentBlack (1999) finds that a 5 percent increase in test scores increases the amount parents are willing to pay for homes by 2.1 percent. A decrease in the property tax burden coupled with an increase in home values would further lower the effective property tax rate for Illinois homeowners, whose home values are still 10.2 percent below pre-recession levelsSince homes represent the vast majority of the net worth of a family, lowering the tax burden and increasing home values will help make middle-class Illinoisans more prosperous. Illinois needs education reformPrioritizing students and emphasizing instructional spending over administrative spending can help to provide taxpayers with property tax relief, higher home values, and most importantly, better futures for their children.   1Calculated by multiplying Virginia per-pupil non-instructional funding figures by the number of students enrolled in Illinois schools in fall 2015, adjusted for cost of living in Illinois. Want more? Get stories like this delivered straight to your inbox. Thank you, we'll keep you informed! Chicago Office | Illinois Policy 190 South LaSalle Street | 1500 | Chicago, IL 60603 t 312.346.5700  f 312.346.5755 Springfield Office | Illinois Policy 802 South 2nd Street | Springfield, IL 62704 t 217.528.8800  f 217.528.8808  e info@illinoispolicy.org

Trending Illinois News:


  • Chicago developer’s death could dim big Phoenix development
  • No thinking required with more than 200 new Illinois laws
  • Multiple homes hit by gunfire overnight
  • Homes, cars hit by BB gun pellets in Old Saybrook
  • Rescue 33 rejects consolidation offer
  • Illinois Ranked Poorly For Taxpayers, Middle For Retirees
  • Illinois dubbed as a highly stressed state, Iowa one of the most relaxed
  • Plan for 20,000-hog facility sparks revolt in western Illinois
  • Illinois lawmakers fail to pass state budget for 3rd consecutive year
  • Cairo, IL housing residents fight to stay as buildings slated to be demolished
  • Targeting Medicaid Fraud Could Hit Nursing Homes Hard
  • Stage is set for Cellini trial
  • Veterans’ Service Office now open in Charleston
  • Clinton and Trump courting Ohio voters on Labor Day
  • Self-Driving Ubers Ordered Off Streets Hours After Launch
  • Illinois.com Domain Name Up for Sale
  • Flossmoor, IL Homes For Sale & Real Estate
  • Homebuilders oppose Illinois bill seeking to tax repairs
  • New Construction Homes For Sale in Frankfort, Illinois - April 2017
  • Report concludes 1 Illinois home in 5 'seriously' underwater