Posts tagged "Property taxes"

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 »

2016 Cook County And Chicago Property Tax Rates Released

2016 Cook County And Chicago Property Tax Rates Released
A couple of days ago the Cook County Clerk’s office released the 2016 property tax rates for Chicago and the suburbs and it was another double digit increase primarily driven by…no surprise…an urgent need to fund the city’s deficient pension funds. And this is despite an increasing tax base in the county. All because previous... Read more »

Yep, High Taxes Drive People Away

Yep, High Taxes Drive People Away
I ran across a great blog post on the BiggerPockets Web site that is well worth the read: New Data Shows Americans Fleeing High-Tax States. In case you are not familiar with BiggerPockets it’s a community for real estate investors and they are interested in topics like this because it has implications for where to... Read more »
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2015 Cook County And Chicago Property Tax Preview

2015 Cook County And Chicago Property Tax Preview
Last week the Cook County Clerk’s office released the 2015 property tax rates for Chicago and the suburbs and it wasn’t nearly as bad as I was expecting. I thought I would be hit by both an increase in the assessed value of my home and an increase in the effective tax rate in order... Read more »

Chicago Property Taxes Are Some Of The Highest In The Nation And Heading Higher

Chicago Property Taxes Are Some Of The Highest In The Nation And Heading Higher
Since I’m personally staring at a 45% property tax increase for 2015 I’m spending far too much time thinking about Chicago property taxes. I already tried to appeal mine myself but made little headway at the first level so I’m bringing in professional appeal attorneys to take it to the next level – the Cook... Read more »

What The Chicago Property Tax Increase Means For Your Real Estate Deal

What The Chicago Property Tax Increase Means For Your Real Estate Deal
2015 is a double witching year for Chicago property taxes. First you have the triennial (once every 3 years) property reassessment going on, which can have a significant impact on individual property taxes. Then you also have this whole $543 MM property tax increase that just got approved and that will possibly impact everyone’s property... Read more »
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Rahm Emanuel Looking To Increase Chicago Property Taxes 11.3%

Rahm Emanuel Looking To Increase Chicago Property Taxes 11.3%
You probably heard today that Rahm Emanuel is looking to increase Chicago property taxes by $500 MM. As the Chicago Tribune reported this is the largest property tax increase in modern history. I’m not sure the city has any other choice right now, given the consequences of past profligate city spending. What has not been... Read more »

What You Need To Know About The 2015 Chicago Property Tax Reassessment

What You Need To Know About The 2015 Chicago Property Tax Reassessment
Last week I gave you a preview of your 2014 Cook County property taxes but now we have to start worrying about 2015. In case you didn’t know it 2015 is the triennial Chicago property tax reassessment, which means the assessor’s office is coming up with one of the key numbers that determines your property... Read more »

Here's A Preview Of Your 2014 Cook County Property Taxes

Here's A Preview Of Your 2014 Cook County Property Taxes
In case you forgot…you still don’t know what your 2014 Cook County property tax bill is yet. All you’ve paid thus far is a rough estimate of the first half of the bill for 2014 and you’re waiting for them to come up with your balance due based upon their calculation of your total bill... Read more »
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Chicago Property Tax Inequality Revisited

Chicago Property Tax Inequality Revisited
Hey, Joe Berrios! You paying attention? Back in August I wrote a post on how Chicago’s property taxes hit the poor disproportionately in which I demonstrated how there was a systematic bias in the county’s assessed values for homes. More expensive homes had more of a negative valuation bias than cheaper homes. The effect was... Read more »