Category: Property Taxes

Renting A Home Suddenly Looks Better Under Tax Reform

Renting A Home Suddenly Looks Better Under Tax Reform
As people are working on their tax returns I suspect the reality of the new Tax Cuts and Jobs Act is starting to kick in – and I’m not talking about the withholding/ refund drivel that the media is obsessed with. The bigger issue is the $10,000 SALT (state and local tax) deduction limitation that... Read more »

Transfer Taxes On "Expensive" Homes Is Not The Solution To Chicago's Problems

Transfer Taxes On "Expensive" Homes Is Not The Solution To Chicago's Problems
In case you’ve missed the news over the last few years Chicago has a lot of problems that are going to cost a lot of money to fix. So everyone is trying to figure out where all the money is going to come from. Well, a few aldermen and special interest groups have an answer... Read more »

2017 Cook County And Chicago Property Tax Rates Simplified

2017 Cook County And Chicago Property Tax Rates Simplified
It’s been almost a month since the Cook County Clerk released the 2017 Cook County and Chicago property tax rates and you’ve probably already received your final 2017 tax bill. I was otherwise occupied at the time so I’m just now getting around to telling you what the numbers mean. In a nutshell it wasn’t... Read more »
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Don't Panic Over Higher Cook County Property Tax Assessed Values

Don't Panic Over Higher Cook County Property Tax Assessed Values
Homeowners throughout Chicago are starting to get a nasty surprise in their mailboxes – significantly higher property tax assessments. What I am referring to here is not the property tax bill itself but the notice of their new Cook County assessed property value which will be used to determine their property tax bill for 2018.... Read more »

More Chicago Property Tax Anomalies

More Chicago Property Tax Anomalies
A couple of weeks ago I published a guest post on How Property Tax Misconceptions Can Be Costing You Thousands Every Year. In that post there was a passing statement about how the Cook County Assessor uses “ratio studies” to reassess properties. That statement, along with some other points in the article, caught my eye... Read more »

How Property Tax Misconceptions Could Be Costing You Thousands Every Year (And What to Do about It)

How Property Tax Misconceptions Could Be Costing You Thousands Every Year (And What to Do about It)
This is a guest post written by Chad Rothrock, Director of Operations at Kensington Research & Recovery, which consults with homeowners and businesses on appealing their property tax assessments to reduce future property tax payments. For Cook County homeowners, property tax news is almost never good news: taxes are going up. The system is rigged... Read more »
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Do You Have Any Idea How Crazy High Illinois Property Taxes Can Be?

Do You Have Any Idea How Crazy High Illinois Property Taxes Can Be?
About 2 years ago I posted on how Chicago Property Taxes Are Some Of The Highest In The Nation And Heading Higher. In that post I showed some of the analyses of property tax rates by state but those averages don’t even begin to tell the whole story of Illinois property taxes. It’s actually much... Read more »

More Evidence That It's Time For Joseph Berrios To Go

More Evidence That It's Time For Joseph Berrios To Go
Back in June I posted on the Chicago Tribune’s expose on just how screwed up the Cook County Assessor’s office was, resulting in huge discrepancies between the tax bills for expensive and cheap properties in the area. Then, just last week, ProPublica, in conjunction with the Chicago Tribune, published another analysis that showed major problems... Read more »

Cook County Assessor Primary: Your Chance To Fix Property Tax System

Cook County Assessor Primary: Your Chance To Fix Property Tax System
Back in June I wrote about the Chicago Tribune’s excellent expose on the broken Cook County property tax assessment process which pointed out that lower priced properties are being over-assessed while higher priced properties are being under-assessed. It’s a problem that I have noted anecdotally from time to time. It seems that numerous properties that... Read more »
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Chicago Tribune Exposes Screwed Up Cook County Property Tax Assessments

Chicago Tribune Exposes Screwed Up Cook County Property Tax Assessments
Last Thursday I posted on the new Cook County property tax rates for the suburbs and Chicago for 2016 which are rising about 10%. But there is a more sinister issue underlying property taxes in the county that I’ve often wondered about in past blog posts. For instance, I’ve often highlighted on some of the... Read more »