"I went before a hearing and got it lowered to $148,000. Now this year I'm going to protest them again. Hopefully it'll get down to the 130's," said Steiner.
Most of the properties in Steiner's development are selling at rates lower than what owners bought them for 20 years ago. Units that once sold for $170,000 just a few years ago are selling nearer to $120,000, the amount the units were sold for originally.
That was a repeated concern of neighbors at Wednesday night's meeting. As tax rates adjust to make up for the lack of property value, neighbors are worried nothing will be done in the meantime.
"Most of the people in the meeting are in their 70s to 90s. They aren't concerned about too much down the road," said Steiner.
Neighbors at the meeting include their local representatives. Alderman Tim Durkee (R-1st Ward), lives in the area. He says these lower property values are a double edged sword when it comes to taxes.
"When they drop, the city, county, can actually raise the tax rates back to the original collection plus the cost of living," said Durkee.
Although there isn't much that can be done immediately, Durkee hopes that residents left the meeting being more informed. A sentiment held by others at the meeting, only the voters of