Matteson property tax rises
The Matteson Village Board has announced a 4.2 percent increase in property taxes around the city. However, village officials are assuring local residents that they will not see larger bills from the increase.
Matteson uses income from property tax to fund services around the city, including street maintenance, the police and fire departments, and city parks.
Officials predict that the standard of living increase around the city will offset any increase in property taxes on homes around Matteson.
However, any increase in property taxes could cause a continued decline in the real estate market around the area. Matteson has seen a dramatic drop in sales of single family homes and condominiums during the last year.
According to the Chicago Association of Realtors, sales of single family homes were at an 8 year low during the third quarter. Condo sales were down more than 50 percent during the quarter.
Village officials should take care to avoid upsetting an already difficult real estate market any further with more increases in property taxes.
Find great Chicago Condos for sale in Matteson and other neighborhoods around the greater Chicago region today.
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