Part 2/7:
Such drastic increases raise questions about legality and fairness in property taxation. As noted, Illinois has a law from 2007 that treats woodland properties as residential for tax purposes, yet it had not been properly enforced until recently. The sudden enforcement left homeowners blindsided, leading to fears that many may face foreclosure due to their inability to cope with such substantial hikes.
A Broader Trend of Unsustainable Increases
This alarming trend is not isolated to Illinois or Florida. Similar stories are emerging from various states, particularly Pennsylvania, where homeowners have seen property taxes unexpectedly increase by 40% after a decade of stagnation. Such financial burdens may push many to sell their homes rather than risk foreclosure.