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I don’t know why everyone gets so upset every year about this subject. It is a given – taxes ARE going to go up. Even if they reduce everyone’s assessed value, they’ll just increase the rate. There is no getting around it. My property tax bills are just over 100k/year which is ridiculous and I cried and screamed and whined and raged year after year until I realized that there was nothing I was going to be able to do about it. As soon as I accepted it, it was OK. But Sabrina, I do think that renters ABSOLUTELY have skin in the game. As the taxes go up on their rental units, their landlords are going to increase the rent.
The second installment numbers will be available after 1 PM today.
clio i think the outrage was the stategic push back of the taxes bills after the election. and berrios blaming good ol houli and the blame landing on overwhelming number of appeals.
and in crook county it just more of the same. plus the mystical eq factor that we wait on pins and needles for.
my homes EMV for 2010 is the same as 2009 (so is my AV) and higher than my 2007 and 2008? and so is my AV. and the more i look at my old bills i get more and more confused.
i have not received my 2009 bill yet but have a feeling we will be moving to iowa.
@Clio – I agree that we have skin in the game. My lease is up next month and my landlord wants an extra $80 a month to make up for those stupid property taxes. I wonder how that 11% increase will work out for the accidental landlords who are already bleeding cash 🙁
My landlord knows better than to raise rent. He can try but the check he’s going to get every month will be exactly the same it was last month.
I’m pretty much a centrist that leans Democrat but feel that anyone who voted for Berrios should be strung up by their toes
Raise the rent to cover tax increases? Not at this time. Had I not purchased a place recently, I would have sought yet another reduction in my rent (having done so after year 1), regardless of the unit owner’s taxes having gone up.
My taxes dropped! Woohoo!
Do the dance, make a little love, get down tonight.
Barry: agreed. Yet again the voters here missed the opportunity to elect Claypool (the last time they picked Todd Stroger over him…Todd Stroger!).
Things that annoy me about the current system:
# there is a small window of time for which you can appeal your taxes and its varies from ward to ward.
# two houses/condos that are practically identical can have widely different property tax
# our politicans have no incentive or desire to fix the broken system
In Chicago voters chose Quinn something like 82% vs. Brady 16%. Kirk had a slightly higher 23% of the vote in the City of Chicago.
An overwhelming majority of people in this city vote straight (D) tickets regardless of who is on the ballot.
And for that, they get the government they deserve.
“#anonny on November 10th, 2010 at 9:44 am
Barry: agreed. Yet again the voters here missed the opportunity to elect Claypool (the last time they picked Todd Stroger over him…Todd Stroger!).”
“And for that, they get the government they deserve. ”
Amen! I am all for the quality of life of the anonny’s and Barry’s of the world declining. It is only those people who don’t vote for the machine politicians who have to suffer due to the idiocy of the masses that I feel bad for.
“# our politicans have no incentive or desire to fix the broken system”
Why would they? Who did YOU vote for?
“# two houses/condos that are practically identical can have widely different property tax”
Now you expect equitable treatment from your government? Bwaha I can’t even get the CPD to return my phone calls when my car gets broken into. Good luck with equitable treatment–you’ll get white glove treatment if you’re connected, that’s for sure.
ChrisM,
really? dont lie to me i cant take more dissapointment
“The second installment numbers will be available after 1 PM today.”
I don’t wish declining standards of living on anyone. I just wish the city would fix it’s fiscal problems. Check out season three of the wire, it pretty much describes not just Baltimore, but the politics of nearly every major city. The system is what the system is. I wish they could fix it within the context of the (D) system – claypool tried under the guise of the (I) and failed miserably.
“#Bob on November 10th, 2010 at 9:50 am
“And for that, they get the government they deserve. ”
Amen! I am all for the quality of life of the anonny’s and Barry’s of the world declining. It is only those people who don’t vote for the machine politicians who have to suffer due to the idiocy of the masses that I feel bad for.”
“I don’t wish declining standards of living on anyone.”
I do. Therein lies the difference between us.
“but the politics of nearly every major city. ”
Baltimore is incomparable to Chicago because the demographics and all other attributes that go along with that are different. Here in Chicago we have a large presence of whities keeping the tax dollars rolling in. Cities like Baltimore and Detroit don’t have that–the whities fled long ago and took their tax dollars with them.
“I am all for the quality of life of the anonny’s and Barry’s of the world declining.”
Bobby my boy, as is often the case, I’m puzzled as to your point (assuming one is intended). Two things.
First, please note that I commented that voters here are idiots and should have elected Claypool, rather than Berrios (same goes for the other machine guy, Stroger, as they did during the last board president election). Do you even read comments before posting?
Second, are you (and this applies to HD as well) seriously raising Brady as an example of a candidate who SHOULD have received more votes, if only voters were a bit smarter? Quinn’s no prize, but Brady is (was) a joke. Unless you want to sound like some mouth-breathing Rand Paul supporter, I would avoid using Brady and Kirk in any relational way in the same sentence. Whereas Kirk is arguably the most competent and qualified junior Senator in the country (and was easily among the most sophisticated members of the House), Brady is a goofball real estate developer who thinks this planet is 6,000 years old.
As for my quality of life going down, that would happen if I lost my job. And if I lost my job, I would no longer be paying MORE in taxes than you do, Bob. I’d thus no longer be able to carry you. Is that really want you want, or would my misfortune be attended by your landing a higher paying job?
“really? dont lie to me i cant take more dissapointment”
According to the Treasurer’s website, at least. I tried to view my tax bill and that’s the message that came up.
“homedelete on November 10th, 2010 at 9:36 am
My landlord knows better than to raise rent. He can try but the check he’s going to get every month will be exactly the same it was last month.”
Weak Landlord you got there (Good in your case) I raise every year. All the costs are going up to own a building especially Taxes and Water.
“clio on November 10th, 2010 at 9:19 am
I don’t know why everyone gets so upset every year about this subject. It is a given – taxes ARE going to go up. Even if they reduce everyone’s assessed value, they’ll just increase the rate. There is no getting around it. My property tax bills are just over 100k/year which is ridiculous and I cried and screamed and whined and raged year after year until I realized that there was nothing I was going to be able to do about it. As soon as I accepted it, it was OK. But Sabrina, I do think that renters ABSOLUTELY have skin in the game. As the taxes go up on their rental units, their landlords are going to increase the rent”
$100G’s per year for property taxes. My gosh what kind of place do you own?
Anyone who voted for Joe Berrios last week has zero room to complain about property taxes. He alone is responsible for a huge tax shift from commercial property owners (who are able to retain the deep-pocketed lawyers willing to make the under-the-table handoff of the bulging envelopes of cash to Mr. Berrios and his cronies) to the backs of residential homeowners.
My landlord is a very successful and reasonable guy. He’s owned the building for 20+ years. He keeps rent low, rents only to high quality tenants and he used to raise rent only a nominal amount on the people who’ve been living here for 8+ years. The people below me have been here 28 years (ok that’s a little crazy); the below them is 11 years; my neighbors in teh back have been here 11 years and 9 years; and a handful others in the 7+ years. I”ve only been here 6 years; maybe in 2 years I”d be wiling to pay an extra $25 a month..but only after he updates my kitchen. He’s already updated the bathroom.
“#GoCubs on November 10th, 2010 at 10:14 am
“homedelete on November 10th, 2010 at 9:36 am
My landlord knows better than to raise rent. He can try but the check he’s going to get every month will be exactly the same it was last month.”
Weak Landlord you got there (Good in your case) I raise every year. All the costs are going up to own a building especially Taxes and Water.”
“Amen! I am all for the quality of life of the anonny’s and Barry’s of the world declining. It is only those people who don’t vote for the machine politicians who have to suffer due to the idiocy of the masses that I feel bad for.”
You’re more partisan than the people you constantly chastise for being liberals, as if a R in front of someone’s name is going to immediately fix everything. Bill Brady is just about the worst major candidate I’ve ever seen in my voting lifetime. Yes, he might not be part of the machine, but his social views are mired in the stone ages and is just another example of a rich Republican that only cares about reducing taxes for him and his buddies in the upper brackets, everything else be damned. Trickle down, my ass.
Sorry for being a noob-homeowner (knifecatcher?), but how do I check my tax bill online if I live in Chicago?
“According to the Treasurer’s website, at least. I tried to view my tax bill and that’s the message that came up.”
thanx bro i will be checking at 1:02, pins and needles
anonny : Yes, Brady was a far far better candidate than Quinn. Yes he had some more religious views but Quinn is basically corrupt and has his hands in the union’s pocket. I can guarantee that no bills invoking Brady’s views on religion and abortion would have crossed his desk in the 4 years he would have been in office. However, plenty of bills invoking quinn’s corrupt union lined pockets are guaranteed to come across your desk.
Quinn has already said that he sees his .002% winning margin – 19,000 votes – as a ‘mandate’ for an investment in education…aka higher taxes. where does most ‘education’ spending go? It goes to line the pockets of teachers and other unionized employees in the form of salaries. HE hasn’t addressed spending at all. We’re BROKE flat BROKE. The state isn’t paying rent on some of it’s leased facilities. The state will go into receivership in the next 6-10 years. Guaranteed. ANd the feds will probably refuse to bail us out. and the citizens of the state will feel some realp pain. And from the ashes of an imploded state will rise the phoenix of a party who will actually try to fix the state’s problem.s
“We’re BROKE flat BROKE. ”
Flat broke means your net worth is at zero we are actually much, much worse off than that.
“Yes, he might not be part of the machine, but his social views are mired in the stone ages and is just another example of a rich Republican that only cares about reducing taxes for him and his buddies in the upper brackets, everything else be damned.”
1) His social views are irrelevant to our situation and really inconsequential given the situation we’re in these days.
2) Your inability to see that Quinn is out to line pockets of his rich buddies as well abusing his office shows how blind you are.
Hence you deserve a lower standard of living. In fact if you wound up eating cat food in retirement I would stop by the nursing home to laugh at you and your ilk.
“1) His social views are irrelevant to our situation and really inconsequential given the situation we’re in these days.
2) Your inability to see that Quinn is out to line pockets of his rich buddies as well abusing his office shows how blind you are.
Hence you deserve a lower standard of living. In fact if you wound up eating cat food in retirement I would stop by the nursing home to laugh at you and your ilk.”
No, his social views are not irrelevant in the slightest. Your dedication to the almighty dollar, everything else be damned, is ridiculous. I’d gladly pay a few more bucks in my property taxes to support the machine as long as it keeps people like Brady and his nutball views out of positions of power. I have no doubts that Quinn is helping out his buddies as well; as with most things politics, I see him as the lesser of two evils.
You don’t need to worry about me or my retirement. I’ll be fine, but do appreciate your concern.
“thanx bro i will be checking at 1:02, pins and needles”
You know your AV and you know your multiplier. I think the levy is also out for Chicago. So you can figure it out now if your anxious.
“Sorry for being a noob-homeowner (knifecatcher?), but how do I check my tax bill online if I live in Chicago?”
Go to http://www.cookcountytreasurer.com at after 1 PM and enter your property’s PIN.
Sorry Groove, meant to post:
http://www.cookcountyclerk.com/tsd/DocumentLibrary/2009%20Cook%20County%20Tax%20Rates%20Report.pdf
4.627% if you are in a vanilla Chicago area (no mosquito, special service, etc). That is probably where you are, you’d know if you weren’t.
“I’d gladly pay a few more bucks in my property taxes to support the machine as long as it keeps people like Brady and his nutball views out of positions of power.”
Feel free to pack up and head out to the utopian California if this is your position. They have the highest state income tax rate at 9.3% so they must obviously have the best finances of any state in the union.
Yeah I believe in holding my government accountable. So when I meet people with law degrees who are teaching because it pays better, has more job security and much better benefits because its a government position, I realize something is terribly wrong with the status quo.
Quinn is dedicated to perpetuating the two class system in our state: 1) the protected class of government workers, union members and welfare queens and 2) the lower class of the working stiffs who actually pay taxes in for them to be re-allocated to group 1.
JMM,
working on the calc as we speak, thank brother 🙂
Bob, I don’t disagree with you as much as you might think (besides your desire to characterize me based upon a few sentences on the internet and then sling mud). We have different priorities, more than anything.
Basically, if you AV didn’t change, you are set for around an 8% ish increase in tax bill in Chicago (based on math). I’m ignoring the fixed HO exemption.
2.9786 x .04816 = .143
3.3701 x .04627 = .156
The difference is almost 9%.
Most people had their AV go down, so tax increases will be reduced by that.
If the state republicans would have put up a candidate who was moderate on social issues and fiscally conservative, with good ideas how to get the state out of the mess it is in, that candidate would have won. But, until the republicans stop being beholden to the Christian right, they are not going to win in the city or the county, which means they are not going to win in the state.
“I’d gladly pay a few more bucks in my property taxes to support the machine as long as it keeps people like Brady and his nutball views out of positions of power.”
Holy sh*t am I glad my condo sold and I can move to a red state where the people don’t need the govt to wipe their ass for $5 per swipe (only to be done by Union contractor). Enjoy your politican machine. I would like to add that I’m not even a Republican but this state is seriously FN retarded. No wonder why the blue states have a mass exodus. Who is going to pay the bills when all of those evil and nasty rich (anyone making over 50k a year) have all moved out?
“Holy sh*t am I glad my condo sold and I can move to a red state where the people don’t need the govt to wipe their ass for $5 per swipe (only to be done by Union contractor). Enjoy your politican machine. I would like to add that I’m not even a Republican but this state is seriously FN retarded. No wonder why the blue states have a mass exodus. Who is going to pay the bills when all of those evil and nasty rich (anyone making over 50k a year) have all moved out?”
Typical political fear mongering. Until we can all move past this kind of drivel we’ll never fix any of our problems. The Republicans don’t have the answer and neither do the Democrats. The problem is the unions. But its also the corporations. Everyone needs to pay their share, not just the citizens who sit at the end of the line and don’t have anywhere to pass the cost on to.
“But, until the republicans stop being beholden to the Christian right, they are not going to win in the city or the county, which means they are not going to win in the state.”
Nope the time for compromise is not now. Better to not compromise on morals and instead let the state fiscally implode. People like you will come crawling back.
Remember its Ds ruining it now no need to let that change until the people are ready for it. No compromising needs to be done its people like you and Barry need some time to re-prioritize whats important to you and I think with the state going downhill at an ever increasing pace this will happen sooner than people think.
“Everyone needs to pay their share, not just the citizens who sit at the end of the line and don’t have anywhere to pass the cost on to.”
Actually the consumers pass on their “costs” in an indirect fashion by re-prioritizing their spending habits and cutting back or seeking deals. This disproportionately affects small businesses which, coincidentally, are touted as the job growth engines of the economy.
“Basically, if you AV didn’t change, you are set for around an 8% ish increase in tax bill in Chicago (based on math). I’m ignoring the fixed HO exemption”
my av looks to be down 10k 🙂 got side tracked at work now shall finish the calc in exel
“No wonder why the blue states have a mass exodus.”
The problem is these blue staters flee to red states but bring along with them their same paradigm which was responsible for the decline in living standards of their home states. They are like a toxic disease.
“$100G’s per year for property taxes. My gosh what kind of place do you own?”
That is spread over 7 properties in chicago (none of them worth over 1 million).
“Remember its Ds ruining it now no need to let that change until the people are ready for it. No compromising needs to be done its people like you and Barry need some time to re-prioritize whats important to you and I think with the state going downhill at an ever increasing pace this will happen sooner than people think.”
Blah, blah, blah. My point still stands. If the republicans would put up a viable candidate, that candidate would win.
Brady won the primary by only a few hundred votes.
The worst politicalcandidate in years was stroger. Not brady. Not even close. remeber alan keyes? He was terrible too.
Groove, make sure you also extrapolate your HO exemption and subtract that from the EAV based on the new multiplier and new AV. Check exemptions on the assessor website and grow the max EAV by 7%. Compare with the regular EAV and subtract accordingly. The max deduction is 20k, but I am guessing your home has not had the run up in assessments many others have.
I am fairly sure that the multiplier going up so much actually helps people who are not fully maxed on the HO benefit this year since you are capped at 7% off a historical value.
Doug, how am I displaying political fear mongering? I am a libertarian who personally doesn’t care for either party – dem or rep. However, with the way illinois is going there is no reason to live here. I am not in a union, a govt employee, and use no social programs. Unions, pensions, and social security will F us. Typically these are supported by Dems.
Random non-political, non-tax question: anyone recently had a water heater replaced? If so, any rec’s?
“grow the max EAV by 7%”
with that math i max out the 20k like i did in 2008 🙂
and with the HOE calc’d in my taxes are down by almost 800 duckets!
“Doug, how am I displaying political fear mongering?”
Because you have an actual understanding of what is going on vs. what Doug likes to watch on TeeVee and believe is reality. Truth is not on Doug’s side only misinformation and “feelings” based arguments which have no basis in reality.
“If the republicans would put up a viable candidate, that candidate would win.”
Viable candidates in Illinois are RINOs like Mark Kirk who can’t be trusted to vote republican in the least. It might as well have been Alexi–at least with him he doesn’t hide his true colors that he’s going to vote D time and again.
No point in putting up RINOs instead gather some popcorn and watch the state fiscally implode. Its not that far off so you might want to put that popcorn in.
As a renter, I definitely have a stake. According to my landlord, every rent increase since 1999 has been driven by property tax increases.
I looked up our tax bill online, and figure my share is about $2200, for my rental in this 42-unit building, 4 rooms, 1 bed, and the kitchen and bath in need of rehab.
I repeat and will keep repeating: the property tax is one of the most unfair and viciously regressive taxes there is and is a horrible way to tax. It means you never really OWN your property, but are subject to loss thereof even though you paid for the place long ago, because of steep year-over-year tax increases. And there is no escape. The suburbs are even worse than the city, by far: a couple I know who bought a cheap house in the outer suburbs about 10 years back, with 20% down and a 30-year-fixed, are now being forced out by the taxes, which have increased from an affordable bill of $2200 in 2000, to over $8800 last year. They could have survived the loss of the wife’s job this year were it not for that tax bill, but the two circumstances together have leveled them. They’re taking a huge beating on the sale of their house, about a $60K loss- their entire down payment. My elderly mother will most likely be forced out of her little suburban house that she paid off years ago and struggled to buy, as the taxes approach $8,000 for a place that could not be sold or a new owner issued an occupancy permit without about $30K worth of work on the mechanical elements. She bought the place and paid for it so she wouldn’t have to spend her old age in a substandard studio apartment, but she could end up in such a pass anyway, despite paying for what she got and saving faithfully.
I’d like to see the property tax replaced by a combination of higher fees for certain services, and perhaps a small city income tax, in combination with caps on spending. Especially the caps on spending. In the meantime, I’d like to see every TIF cancelled and no more promulgated for the purposes of handing the “increment” of our property taxes to some megabucks developer or retail chain for “economic development” that everyone is forced to subsidize through house taxes or rents, but derives little or no benefit from. And we could also work to make property taxes fairer, while recognizing that city services and utilities, are going to be costlier, and that the costs should be paid for the user.
I agree with Question. The Repubs would do much much better if the got rid of the Christian right nut jobs. Seriously, no matter how great someone may be as a candidate, once they start spouting off about intelligent design, faltering on evolution, and can’t say two sentences without referring to Jesus, they are going to run into some resistance from a lot of voters.
The machine politics of Illinois are pathetic and the voters definitely are getting the government they deserve.
With that said, Brady definitely was the better choice imho. I highly doubt any of the “social issues” that get people in a tizzy would have come up during this term.
Laura,
i have the same kind of friend. Bought in mchenry county a new built subdivision first year taxes were like 3k and now he is paying 15k as of 2008.
his township wanted to build a new school and library and other shyte to keep up with the new subdivision population growing. somebody has to pay for that growth and that farm land now having occupants other than field mice.
I agree on the Christian portion as well. They must play on the people who only vote based on abortion (which is never changing anyway). Hopefully the Repub’s won’t put Palin up against Moses in 2012….
Anonny:
Abt sells & presumably installs water heaters.
“Random non-political, non-tax question: anyone recently had a water heater replaced? If so, any rec’s?”
“somebody has to pay for that growth and that farm land now having occupants other than field mice.”
well, all I can say is that if they decide to rent, they better get the mice problem fixed ASAP – renters won’t stand for that!
“Most people had their AV go down”
Most? Where did you discover that factoid?
“anyone recently had a water heater replaced? If so, any rec’s?”
Rec’s for what? Who to do it? What to replace with? Where to buy the new unit? Too many thoughts to stab in the dark.
“My elderly mother will most likely be forced out of her little suburban house that she paid off years ago and struggled to buy, as the taxes approach $8,000”
Wouldn’t happen in Cook County. LTO Seniors get *HUGE* tax breaks. Probably would be 80% or more less.
“Random non-political, non-tax question: anyone recently had a water heater replaced? If so, any rec’s?”
just wait for a sale a sears go, and they contract out for the install. dont get pissed when they charge you for replace the gas fittings it is required and you are better off doing it even if you istall the water heater yourself.
finally i’ll be able to file my HOE (hopefully) I really hope my taxes went down as money is quite tight at the moment 🙁
“Random non-political, non-tax question: anyone recently had a water heater replaced? If so, any rec’s?”
ooooo, and look hard into the new water heaters from GE i forgot what they are called its a hybrid type of thing as only the hard core heating element kicks in during high demand times and some will hook up to the internet or computer for extra level of energy saving management.
The really disgusting thing is that our state and counties are all indeed broke. I think that we all agree that this is the case and therefore someone should be hung for taking a few extra weeks to get our property tax bills in the mail. There should be a SPECIFIC deadline and it should not allow any manipulation at all. If the offending department or municipality that is holding up sending out the bills does not have their budget in by a specific date they should be forced to take 90% of the previous tax period. That would get them off their asses and help to allow the bills to go out EXACTLY on time every year.
The interest on each day of collections must be an astronomical amount. No it is not enough to cure the defecit, but it is still a very nice amount of money. In the private sector any people responsible for delaying invoices being sent out to the companies customers would have been fired quickly as there is no real excuse.
“look hard into the new water heaters from GE i forgot what they are called its a hybrid type of thing”
May need to redo the exhaust vent (they are generally direct vent) and Chicago code requires that the exhaust be 10 feet from a neighboring structure, which means no side venting.
Here’s your fear mongering…
“No wonder why the blue states have a mass exodus. Who is going to pay the bills when all of those evil and nasty rich (anyone making over 50k a year) have all moved out?”
1. There’s no real data to support this statement.
2. Every state is f’d up right now. Take a look at Texas for your Republican example.
3. No politician has ever used 50k as a threshold for “rich.”
And you used these falsehoods and exaggeration to create a negative reaction. The definition of fear mongering.
Bob, you’re a total douche. Most of the things you say are extremely offensive to me, and quite a few would qualify as thinly veiled racism (ie: whites moving to the suburbs and taking the tax dollars with them). If you think you have all the answers, get involved. Obviously the republicans haven’t figured anything out yet since none of them can comment on how they’ll trim the federal budget. Frankly I used to be a republican until this latest incarnation when it was all about the Christian right and just saying the craziest thing the loudest took over. All these republicans spending their time bad mouthing democrats (ie: Bob) and saying no to any legislation that comes across their desk (ie: small business tax breaks) makes me vomit. Real leaders identify problems and fix them, not sit around assigning blame.
I feel like I’m the only one not understanding the formula to calculate Chicago taxes. Can someone please outline the steps (without abbreviations) as if you were explaining it to a 4 year old? I would be grateful. Thanks.
“Most? Where did you discover that factoid?”
See median statistics referenced in just about every Houlihan press release. Lake View seems to be the one outlier in the city. Maybe North as well.
New Trier was dropped between cycles, which is extraordinary.
http://cookcountyassessor.com/LatestNews/LateNews.aspx?ID=499
“I feel like I’m the only one not understanding the formula to calculate Chicago taxes. Can someone please outline the steps (without abbreviations) as if you were explaining it to a 4 year old? I would be grateful. Thanks.”
It is complicated. Unless you have some familiarity with the system, it would probably be a waste of the next hour. You can check shortly via assessor website I believe.
1. http://www.forbes.com/2009/11/02/blue-state-middle-class-exodus-opinions-columnists-joel-kotkin.html
I’m sure this won’t count as real. I guess if John Stewart were to confirm it then it would be worthy.
2. CA has to issue tax refunds with IOU’s. Let’s not compare that to Texas…
3. I was being sarcastic (although I’m sure Jesse Jackson secretly does think that $50k a year is “rich.”
My favorite line “Real leaders identify problems and fix them, not sit around assigning blame.” Are you FN kidding me? How many times do I have to hear Obama blame Bush for everything? “Oh, my dog shit on your lawn? That’s Bush’s fault!” How many political ads did Alexi run featuring Kirk and Bush standing together?
All politicans are equally pathetic in my mind but I would rather vote for the ones who are less pathetic, and won’t rape and pillage my pocketbook.
“I’d like to see the property tax replaced by a combination of higher fees for certain services, and perhaps a small city income tax, in combination with caps on spending.”
Please provide evidence of a municipality that does not tax property.
Your income has little or nothing to do with your consumption of city / municipal services. You’d have a hard time arguing rich people have more fires at their houses, call the police with greater frequency or send more children to public schools than poor people. If anything, it is the reverse.
Not saying the system isn’t somewhat rigged, along with everything else in the county of cook, but at least the premise is fair.
“Please provide evidence of a municipality that does not tax property”
Oak Brook
“I feel like I’m the only one not understanding the formula to calculate Chicago taxes. ”
Not for a four yo, but:
[(AV (findable at assessor’s website, supposed to be 10% of “market value) * EqF (3.3701; varies y2y, supposed to adjust the AV to 33% of MV)) – Exemptions (max $20k, unless special circumstances apply)] * Tax Rate/Levy (.04627; varies y2y, calculated by taking total budget request divided by total EqAV, including industrial and commercial props).
“Rec’s for what? Who to do it? What to replace with? Where to buy the new unit? Too many thoughts to stab in the dark.”
All of the above. My current water heater is electric, so I presume the replacement will be as well. I don’t think I’m going to go the tankless route. The current unit is 15 years old, so I’d like to replace it before it leaks/fails.
“although I’m sure Jesse Jackson secretly does think that $50k a year is “rich.””
Please. Pick someone that isn’t rich, with rich friends, and rich kids. Jesse’s as much an example of a bona fide man of the people as Rush.
Re water heater: I helped out on a unit above me.
For Gas units: tougher to do tankless or hybrid in a Condo given that you need direct venting. For electric units, also tougher to do tankless or hybrid since for anything larger than say a 2/2, you’ll need 200amps.
Even though the unit owner wanted to go tankless, he ended up having to replace like with like which was 75 gal gas water tank.
I know a really good plumber (union) who does extra jobs. Not cheap but he’s good.
“My current water heater is electric, so I presume the replacement will be as well.”
Ugh. Know *nothing* about electrics–never lived even temporarily in a place with an electric water heater. Heat pump, maybe?
I completely disagree with the idea of seniors getting a tax break. They are the biggest voting block by far, and thus have the power to remove high-spending politicians in order to hold their taxes down.
Maybe one of the huge reasons why 85% of Chicago votes for anyone with a (D) next to their name is because the largest voting block does not really have to pay for this excess spending.
“All politicans are equally pathetic in my mind but I would rather vote for the ones who are less pathetic, and won’t rape and pillage my pocketbook.”
Agreed. However I would rather vote for those that don’t want to rape and pillage the Constitution by forcing religion into government. Both parties are going to steal my money, I’d rather it not be for religious reasons.
“Maybe one of the huge reasons why 85% of Chicago votes for anyone with a (D) next to their name is because the largest voting block does not really have to pay for this excess spending.”
Also, the Rs don’t bother running viable candidates in most elections in the city, and even when they do, they don’t fund them well enough. Yeah, that’s a chicken/egg thing, but NYC is basically as D as Chicago and the last two mayors have been (at least quasi-) R, because they ran and funded good R candidates.
Re: Demo vs. Repu
Chicago has been a blue machine forever and even still under Daley the city of Chicago has really gotten nicer over the past 20 years. I was willing to overlook the Ritchie cronies getting city contracts given that things were improving so much. (That’s not to say that Daley hasn’t made major mistakes).
I do believe that Chicago is going to be hurting in the near term, but I’m nowhere near the doom and gloom of HD
They’re available. 10.94% increase for me.
Anon, my mother lives in St. Louis County, and she is getting a Senior Citizen tax exemption, but it is small. She perhaps pays 15% less than she would without it. And you would not be impressed with her house. It’s an ordinary 1500 sq ft Cape Cod with the worst kitchen you ever saw, sloped ceilings upstairs, and two old bathrooms that need work.
What her school district wants, it gets, with no questions asked from fellow owners whose response is always knee-jerk in line with whatever the school board demands. The administrators and teacher’s union have these people well-trained and all they have to do is say, “Do you want to maintain your property values” and the town responds in Pavlovian fashion and give them whatever they demand, whether it’s 5% raises for teachers who average $62K a year and have three days off a month in addition to their extensive vacations, or expensive improvements for already-lavish facilities. No one ever demands to see the school board’s financial nor does anyone question any expenditures, no matter how frivolous.
The only way to protect ourselves from the rapacity of the politicians and public unions is to campaign aggressively for SPENDING CAPS and, eventually and by degrees, a more equitable way to raise money for the city.
“Agreed. However I would rather vote for those that don’t want to rape and pillage the Constitution by forcing religion into government. Both parties are going to steal my money, I’d rather it not be for religious reasons.”
Which is why I’m not opposed to a near collapse of our society if that’s what it takes (ie: a debt crisis). While not adhering to any organized religion myself, people like you who grew up with modern comforts have little appreciation for the role the Church played in maintaining some semblance of civilization during the dark ages. You’re life is going to get tougher in the future is my prediction and my opinion is that it is deserved.
In this market, the increased taxes drive down the value of your rental property, they don’t drive up the rent. If my rent went up, I would move.
“If my rent went up, I would move.”
where?
Tiny lil increase here (no change to AV).
Not that I’ll ever love paying any tax, but I can’t complain. . . at least not yet.
anon – how do you know how much you are paying? all I see is assessed values?
“where?”
Umm….to a landlord with a lower cost basis on his building?
Seriously clio to try to make a statement that rents will go up equally across the board is laughable. Different landlords have different cost bases and the tenants will flock to those landlords who have already paid off their mortgage and can offer the lower rents.
“Anon, my mother lives in St. Louis County, and she is getting a Senior Citizen tax exemption, but it is small. She perhaps pays 15% less than she would without it. And you would not be impressed with her house. It’s an ordinary 1500 sq ft Cape Cod with the worst kitchen you ever saw, sloped ceilings upstairs, and two old bathrooms that need work. ”
That stinks. Ladue? Clayton?
Spot checking some for sale houses around the County, either she has a really (really) big lot, or there’s something *very* wrong with the assessment, as most of the similar sized houses seem to have taxes under $4k.
“anon – how do you know how much you are paying? all I see is assessed values?”
treasurer site. Might be overloaded off and on this pm.
“Different landlords have different cost bases and the tenants will flock to those landlords who have already paid off their mortgage and can offer the lower rents.”
Of course – but to assume that even landlords with lower cost bases are going to cut into their profits is also laughable – these people are in it for the money. It is true that rents won’t immediately go up – but year after year as landlords examine their cost basis, the tax increases (just as assessment increases) will ABSOLUTELY be figured into higher rents. Don’t be naiive.
Just looked at my tax bill. I live in Old Town and my bill went down from last year by roughly 10%. Definitely not what I expected, but not going to complain.
“Tiny lil increase here (no change to AV). ”
You mean tiny little increase over the first half tax payment which was 55% of last year, rather than 50% as in previous years. If your second half amount due is *exactly* the same as your first half was, that’s a 10.01% total increase over last year.
“All these republicans spending their time bad mouthing democrats and saying no to any legislation that comes across their desk”
Well said Doug! Going back to my yipping dog metaphor, eventually the small parking dog catches the car and either lets go or gets run over.
“Which is why I’m not opposed to a near collapse of our society if that’s what it takes (ie: a debt crisis).”
This is ignorance at it’s finest. Make things worse to make them better. If this is how you feel, you should lead the collapse our society parade and truly show your leadership skills.
Maybe I’m reading it wrong, but my bill appears to have dropped significantly (i.e., approx $3,500 was due back in early March of this year, and approx $200 is due next month). Can this even be possible? Do they make mistakes?
““Which is why I’m not opposed to a near collapse of our society if that’s what it takes (ie: a debt crisis).”
This is ignorance at it’s finest. Make things worse to make them better. If this is how you feel, you should lead the collapse our society parade and truly show your leadership skills.”
No, it’s the sort of academic gobbledygook that Bob usually disparages–creative destruction sucks for the individuals living through it.
ah duh I was on the assessors site… lol
so my taxes went down 3%
whoopidie doo, thankfully for 2010 i can file a homeowners exemption
“Do they make mistakes?”
No. They are the government and they never make mistakes.
“Make things worse to make them better.”
There will be ample opportunities for the populace to make a change regarding their political voting behavior along the way. I’m skeptical so don’t see it happening but it is definitely a possibility. Otherwise we’re barreling straight towards a debt trap.
“No, it’s the sort of academic gobbledygook that Bob usually disparages–creative destruction sucks for the individuals living through it.”
Maybe you hit the snooze button the countless times I’ve railed against the bailouts? I’ll not punish the readers here today with another VCR repeat. Creative destruction is sometimes necessary for betterment when there is a system so egregiously flawed it has ceased being anything near it’s original intent and instead has a life all its own.
“Maybe I’m reading it wrong, but my bill appears to have dropped significantly (i.e., approx $3,500 was due back in early March of this year, and approx $200 is due next month). Can this even be possible? Do they make mistakes?”
Yes, it is possible. Yes, they make mistakes all.the.time.
1. Check the AV on the Assessor’s site. If the 2009 AV is ~45% less than the 2008 AV, then it’s probably right.
2. Is it possible that some portion was pre-paid in connection with your closing? Maybe low due to credit.
3. Check to make sure bill is for unit and not just parking space (yours or a neighbor’s)
4. If none of those apply, you should bug the T’s office, to avoid problems with your lender, late fees and interest, which they will try to impose even if it’s their mistake.
“Of course – but to assume that even landlords with lower cost bases are going to cut into their profits is also laughable – these people are in it for the money.”
Absolutely. But when push comes to shove most landlords will settle for their cost basis + a low rate of return. The lower cost basis of having the property paid off will be split between the tenants and the landlord to the extent of their negotiation and willingness to budge.
I actually agree w/ Bob- you have to make it “hurt” to make it better. Just like a curable cancer – you need to undergo surgery to get rid of it otherwise it will just keep growing and growing and will eventual kill the organism!!! It’s painful while going through it but worth it in the end.
“There will be ample opportunities for the populace to make a change regarding their political voting behavior along the way. I’m skeptical so don’t see it happening but it is definitely a possibility. Otherwise we’re barreling straight towards a debt trap.”
We are already in a debt trap if you haven’t noticed. Maybe it will take until QE4 until you understand this. Yet, a debt trap may be the way out. It’s certainly not the worst idea and at least the FED is TRYING to do something instead of picking fights with opposing parties all day long. The FED is protecting the people, to an extent, because if they didn’t, watch what happens when the middle class drops out.
“Maybe you hit the snooze button the countless times I’ve railed against the bailouts?”
You think *anyone* reads them? Really?
“I’ll not punish the readers here today with another VCR repeat.”
Small mercies. Small mercies.
“Creative destruction is sometimes necessary for betterment when there is a system so egregiously flawed it has ceased being anything near it’s original intent and instead has a life all its own.”
Well thank goodness someone’s more concerned about their unborn grandchildren than themselves and their family, friends, acquaintances.
Oh, what’s that? Dropping the standard of living significantly now will have a huge deleterious effect on the standard of living of future generations, too? And the collapse of growth will make the yoke of existing debt harder to throw off? Even *after* disregarding the damage such destruction will do to everyone currently living in America? Huh, hadn’t thought of that.
“I actually agree w/ Bob- you have to make it “hurt” to make it better…It’s painful while going through it but worth it in the end.”
This is easy to say when you have a lambo in the garage and tax bills of 100k. If it gets worse for some people, that’s it, end game!
“Absolutely. But when push comes to shove most landlords will settle for their cost basis + a low rate of return. The lower cost basis of having the property paid off will be split between the tenants and the landlord to the extent of their negotiation and willingness to budge”
I actually disagree with Bob – although owners who have their units paid off have more room to budge, many of them are rich enough that they WON’T budge. I know a LOT of landlords (myself included) that don’t budge on rent (my cost basis is extremely low on all of my properties – I can afford to keep them empty until a good renter comes alonge). Also, when you go to sell, you want to show the next investor that they will make money. A 1-2% return is NOT going to get your property sold
Anyone have a good lawyer that can help with property tax re-assessments? My condo association is going to challenge our assessed values after 3 distressed sales in the building. Thanks
“I can afford to keep them empty until a good renter comes alonge). ”
Again, many people cant. Those who made poor financial decisions, acquiring second homes or in-towns. Not everyone rents out places because they want to make money. Some do it just because they have to. Don’t think so micro clio.
“Not everyone rents out places because they want to make money. Some do it just because they have to. Don’t think so micro clio.”
a-fed, I completely understand – and these are the people that CAN’T afford the higher taxes so they will be forced to increase rent. Bob’s point was that the renters will then flock to people like me who have paid off all or a majority of their units. My response was that these people are rich and, though they can afford to budge on rent, won’t (not only because it makes the property harder to sell to another investor, but also because it starts a downward spiral with each renter trying to negotiate down).
I don’t care if my landlord’s costs double — if he raises the rent, I’ll move. It’s a buyer’s market not only for buying but also for renting. Anyone who wants GOOD tenants needs to keep rents down or risk losing them. Renters who agree to increases in this economy are stupid, nonconfrontational, or undesirable (i.e., loud, dirty, obnoxious, poor credit, etc.)
“will make the yoke of existing debt harder to throw off?”
Nope my debt crisis scenario actually solves our debt problem. Its called sovereign default and it will prevent future generation’s government from living beyond their means as well.
“but his social views are mired in the stone ages” “mouth-breathing Rand Paul voter”…..
I love how anonny and Barry can spew this liberal nonsense. We’ve been through this before. Ron and Rand Paul voters are highly-educated, they do not lack posture. muscle-tone, and hygiene like “anti-fiscal” and liberal voters do. So enough with the name-calling. Liberals must also take a look in the mirror on “social issues” as they represent the groups that support degeneration, not progress or health. the definition of degeneration is: progressive deterioration of physical characters from a level representing the norm of earlier generations or forms, intellectual, moral, or artistic decline, a lowering of effective power, vitality, or essential quality to an enfeebled and worsened kind or state” For these reasons Brady represented at least some sort of a bulwark against the decline and slide downwards supported by liberalism.
“Nope my debt crisis scenario actually solves our debt problem. Its called sovereign default and it will prevent future generation’s government from living beyond their means as well.”
Weimar Germany even pays its debts Bob. You may as well wish for [fill in your own totally impossible pipe dream]. We *might* default, but the principal will still get paid, eventually, even if it involves holders exercising “setoff” rights against the non-US-held private assets of American corporations and citizens.
You really think China will just let that $1T go?
“I love how … Barry can spew this liberal nonsense.”
Wait–is the president posting on cc?
So if the assessed value of my co-op stayed the same from last year my taxes will (go up/go down/remain the same)?
“Wait–is the president posting on cc?”
probably… its not like he’s “presidenting or whatever he should be doing”
“I love how anonny and Barry can spew this liberal nonsense. We’ve been through this before. Ron and Rand Paul voters are highly-educated, they do not lack posture. muscle-tone, and hygiene like “anti-fiscal” and liberal voters do. So enough with the name-calling. Liberals must also take a look in the mirror on “social issues” as they represent the groups that support degeneration, not progress or health. the definition of degeneration is: progressive deterioration of physical characters from a level representing the norm of earlier generations or forms, intellectual, moral, or artistic decline, a lowering of effective power, vitality, or essential quality to an enfeebled and worsened kind or state” For these reasons Brady represented at least some sort of a bulwark against the decline and slide downwards supported by liberalism.”
I voted for Ron Paul in the 2008 primary, you racist cretin.
My landlord’s bill went up about 25 percent (AV up about 15 percent), if I’m reading things correctly.
“I love how anonny and Barry can spew this liberal nonsense. Ron and Rand Paul voters are highly-educated…”
Yep, that head-stomper guy looked like a real Rhodes Scholar.
Bob…please read the following summary of my previous comments veeeerrrryyyy carefully: (i) Voters were foolish to elect Berrios and Stroger over Claypool; (ii) Kirk is probably the most competent and capable new Senator (and was among the sharper Rep’s); and (iii) Brady is a kook and Quinn is a boob.
What. Part. Of. That. Is. “Liberal nonsense”?
I love how anonny can’t distinguish between me (Bob) and who wrote the above quote.
Hmm…challenged my 2009 tax year AV at the Board of Review. My AV was adjusted downward to below my neighbor’s (my unit’s AV was higher than his the prior year, and we live in the same condo building with the same unit). My total annual taxes are still higher though even though my AV is lower. I am thinking this is an error…..urghhh.
Assessed value on our 3 yr-old condo went down 17.3% A small-bandage for the bleeding wounds of us so-called knife catchers.
“So if the assessed value of my co-op stayed the same from last year my taxes will (go up/go down/remain the same)?”
Up. About 10%. Assuming your co-op is (a) in Chicago and (b) *not* in any special districts.
Your 2d half bill, payable in 4 weeks, will be almost the same as the bill paid in March, each at 55% of the total paid in 2009 (for 2008 taxes).
Bob: Fair point. My apologies.
Dan: See my misdirected comment to Bob above. It is directed at you.
Here’s a nice sobering statement from today’s trib:
“If Daley’s budget proposal is approved next week as anticipated, the city will have spent all but $76 million of the $1.15 billion it got two years ago from the company that leased the parking meters for 75 years. Another $500 million would remain from the city’s 99-year lease of the Skyway in 2004 for $1.82 billion.”
http://newsblogs.chicagotribune.com/clout_st/2010/11/mayoral-candidate-chico-wants-to-lock-away-city-reserves.html
Under $600M remaining from the sale of 75 years of an income stream. How anyone can think that the status quo in this city and state is working is beyond me. And, yes, other cities and states are struggling but no where near of the extent of right here (outside California).
My mother is in Webster Groves. It is Tax Hell.
My AV stayed the same, BS.
Anyways my bill seems to have gone up a substantial amount.
1st 1581
2nd 2034
I also have never filed this homeowners exemption thing. Care to explain? I bought my place in 2007.
Laura:
The taxes in the listings are all over the place, but a house asking $629k on an acre only lists taxes as $5900. Then there’s a house listed for $250k, on 1/3 of an acre with taxes of $4200. There’s something very, very wrong about your mom’s tax situation.
if you are an owner occupant you go to the assessors office downtown with a simple form (called homeowners exemption) from the cookcountyassessor.com website and your proof of closing documents and save lots of $$$
you have probably overpaid on your taxes at least by 1k over the last few years so its a good idea to take the time to do this.
“I also have never filed this homeowners exemption thing. Care to explain? I bought my place in 2007.”
File the HO exemption, get a reduction in your EqAV, which will net you a savings of between $277 and $925, depending on the history of increases to your AV. The trigger date for the exemption is January 1, so if you bought *during* ’07, you can’t claim it for ’07/payable-’08 taxes, but you can file and seek a refund for ’08/payable-’09 taxes and current taxes.
Anon,
good call on the venting of water heaters.
annony,
sorry electric water heaters i have no clue about, only point of use ones.
steve,
your first is a estimate which is 55% of last years (2008) bill and your second is the remainder of what you paid from the first to what the total of the tax bill is (2009)
“steve,
your first is a estimate which is 55% of last years (2008) bill and your second is the remainder of what you paid from the first to what the total of the tax bill is (2009)”
and it’s about 25% more than last year, meaning a ~13.6% increase in AV.
Asking on behalf of in-laws, does the senior citizen freeze apply regardless of whether EAV would otherwise go up or down? Does the freeze stay in place forever (in the absence of changes to the rules)? Looking at assessors site suggests yes to both (but I haven’t delved). If yes to the first question, and if assessments have been declining, then wait a year or two and then file?
If you reside in your unit, claim the homeowner exemption, and then rent the unit – are you legally supposed to remove the exemption? Anyone know about that?
DZ,
for the in-laws, look to see if the LTO is larger than the senior, in some cases it is.
“your first is a estimate which is 55% of last years (2008) bill and your second is the remainder of what you paid from the first to what the total of the tax bill is (2009)””
so in lehman’s terms?????????????
” are you legally supposed to remove the exemption? Anyone know about that?”
um… yes because “legally” that is called “cheating on your taxes”
“Does the freeze stay in place forever (in the absence of changes to the rules)?”
You need to file each year for the senior citizen freeze…it’s by far the most valuable exemption as the years go by.
“um… yes because “legally” that is called “cheating on your taxes””
Anyone know what the penalty is if you get caught? Also does anyone get caught outside of snitchin?
Just checking. Tim Geithner suggested I leave it as-is.
“for the in-laws, look to see if the LTO is larger than the senior, in some cases it is.”
Thanks. I somehow missed there was an income cap for the senior freeze, which they will exceed. They haven’t applied for the senior citizen (non-freeze) exemption. I take it there is no reason for them not to.
“Thanks. I somehow missed there was an income cap for the senior freeze”
i want to say 55k a year, dont quote me.
but remember to have them re-apply every year as chris points out.
I bought a place in august, while the AV remained the same from 2008 to 2009 per assessor’s office data, the total 2009 tax went up by a whopping 34% over 2008 tax, how does that work? Yes, I’m going to contest it, but wtf?
“AV remained the same from 2008 to 2009 per assessor’s office data” should be “AV remained the same from 2009 to 2010 per assessor’s office data”
“i want to say 55k a year, dont quote me.”
That’s what it said, for 2008. Won’t work for in-laws. I also couldn’t tell how it worked if couple has one senior and the other not. Not an issue for in-laws but surprised it wasn’t clearer.
““AV remained the same from 2008 to 2009 per assessor’s office data” should be “AV remained the same from 2009 to 2010 per assessor’s office data””
2010 to 2009 is useless until next year. you want to look at the AV of the 2008 and compare it to the AV of 2009 (which is the bill sent out today)
“I also couldn’t tell how it worked if couple has one senior and the other not.”
my pops is the senior and my mom isnt, so you can still qualify if only one fart can order off the senior menu.
Mine look to have gone up like 22%. Yikes! Here I was getting all hopeful they might go down a bit. Owich.
“Anyone know what the penalty is if you get caught? Also does anyone get caught outside of snitchin?”
If you can explain it away as an honest mistake nothing more than back taxes + penalties + interest and a higher chance of audit in the future, more than likely. If its obvious that it’s intentional fraud you have bigger problems to worry about like the big house.
People do get caught cheating on their taxes aside from snitching if they get picked for random audit. Random audits aren’t entirely random as they have statistical models to detect anomalies. Obviously these models are very proprietary. If I had to make an educated guess I’d say you’re walking a fine line and the degree to which you cheat does indeed determine the probability that you’ll get caught.
The method you cheat determines how much trouble you’ll get in if/when you are caught (plausible deniability is a beautiful thing).
““AV remained the same from 2008 to 2009 per assessor’s office data” should be “AV remained the same from 2009 to 2010 per assessor’s office data””
As Groove notes, the former is the correct comparison, as the current bill is the 2d installment of 2009 taxes. Your AV went up ~22% from ’08 to ’09.
“Won’t work for in-laws. I also couldn’t tell how it worked if couple has one senior and the other not. Not an issue for in-laws but surprised it wasn’t cleare”
dont forget DZ there is a freeze and a Exemption, they still will qualify for the exemption.
Anon,
the limestone monster is actually quality work
“the limestone monster is actually quality work”
But whywhywhy there? Just comically out of place, no?
suprisingly,mine went down.$1350 for this installment.standard sized chicago lot.long term homeowners exemption really knocks it down.
“But whywhywhy there? Just comically out of place, no?”
yes way out of place, (i sent you a nice note one it)
Bob; I do not believe an IRS audit would result in Cook County being alerted that Tony or anyone else is a nickel dime scammer on property tax exemptions
Ummm… the IRS is not the only jurisdiction who audits. Im sure Bob was not referring to the IRS.
Question:
1) If the previous owner had HO exemption and is still showing on today’s bill, do I have to do anything to keep it? Do I have to fill out the form or does it carry from one owner to the next?
2) If I am going to appeal, do I still pay the taxes while working on the appeal? (I’m guessing the answer to this is yes.)
Anony (or anyone else)… if you are purchasing a new water heater or furnace, Peoples Gas has rebates (up to 50%). Check into it before you purchase.
I have an accepted contract to purchase a 2/1 reo condo w parking at Howard and Ridge in Rogers Park for $34,000 cash + $3k of back & special assessments. I just looked up the taxes and found them to be $4884.56.
Questions:
1. The taxes equal 13% of my purchase price. That seems crazy high. Is this normal? Can I get them lowed because my purchase price is so low? I’m set to close in just 8 days. What should I do?
2. The tax bill lists $4884.56 as the 2nd installment and $0.00 for the first installment. It seems that the building was recently converted to condos from apartments. Sellers attorney told me today that since the 2009 taxes say $0.00 for 1st installment and $4884.56 for 2nd instalment, that this means that a WHOLE YEARS WORTH OF TAXES are in the second installment. Does that seem plausible? I do not want to find out after closing that the taxes are really $4884.56 x 2, but they only prorated me a credit based on $4884.56 x 1.
My AV is 27,136. My land sqft is 14,705. Assessor’s office website says my estimated market value is $271,370. The contract price is $34k and I have to put in about $3k worth of back & special assessments on top of that.
Any insight is appreciated. Thank you.
I live in ELV in a 2/2 with garage. My taxes dropped about 600 bucks. We did file an appeal last year, I doubt it would have gone down if we had not.
My guess is the non-GZ hoods are going to be taking a bigger valuation hit (thus far) than GZ hoods so the net effect will be property taxes in the GZ will be going up.
“Anyone have a good lawyer that can help with property tax re-assessments? My condo association is going to challenge our assessed values after 3 distressed sales in the building. Thanks”
Can anyone help out David2?
Mine went down for second installment, about 50% less than the first!
I’m glad to pay less. It’s weird, because the AV went up, and frankly, it seems too high. It doesn’t reflect the longtime owner exemption yet, though. That should kick in next year.
The rental, same general hood, has 2nd installment up a couple hundred bucks from 1st.
It’s all voodoo calculations.
“More head-stompers….and rapists, murders, and robbers too are Democrat/Obama/Quinn voters than they are voters for serious men like Dr. Ron or Dr. Rand Paul.” Ha. First, it is undisputable that a key supporter of Rand Paul stepped on a woman’s head, as two other Paul supporters held her down on the curb. Second, “rapists, murders (sic), and robbers” typically cannot vote.
“First, it is undisputable that a key supporter of Rand Paul stepped on a woman’s head, as two other Paul supporters held her down on the curb.”
She’s also facing felony charges for damaging a ship and was also arrested in China for unfurling a “Free Tibet” banner. Pretty soon she may be one of those “felons”. Yet her background is rarely mentioned in the media.
And given Rand’s interview with the WSJ regarding earmarks it appears he may already be backpedaling from his hardline tea-party campaign promises. 🙁
“Anyone have a good lawyer that can help with property tax re-assessments? My condo association is going to challenge our assessed values after 3 distressed sales in the building. Thanks”
Can anyone help out David2?”
Why not try it yourself, its actually very simple to appeal with out a lawyer (who will take 50% of what you save, some only take a third). Cook county makes it easy to do, (thank lisa madigan for that i think).
another option is you company or one of your condo assotion members company most like already has a attorney that handles property tax appeals. give them a call as since your (your company) is already a customer they usually only take a thrid.
Given the political situation at the Assessor’s Office, I doubt an individual’s tax protestation will be successful.
I’ve used two different tax protestation attorneys, and both sent me handsigned endorsement letters strongly supporting Berrios. That’s telling.
I’ve used an Evanston-based attorney twice, with some success. After our house’s $200,000 2008/2009 cycle’s assessment increase, I retained another tax protestation attorney at another friend/attorney’s advice. This attorney commissions an independent 3rd-party appraisal to establish market-value, usually to great success. But no adjustment was granted, twice. Then Assessor decided all of River Forest was overvalued, and a blanket reduction occurred, but our house’s valuation is still $150,000 over a reasonable current market valuation based on for-sale comps. Our house is unusual; large lot, smallest house on block, tiny basement w/crawlspaces, and need of renovation. We’re architects, another example of “shoemaker’s children have no shoes”.
Our tax bill has doubled in seven years.
I see that my post about Jesse and Farrakhan, Rahm and AIPAC, and Luis Gutierrez was deleted. If someone here on CC is going to start calling other contributors here “racist” they need to take the blinders off and see who in this blue city is really open and unashamed to be racist. The fact is that Tea Party voters are on average much more highly educated than the average Democrat/blue voter.
I feel Architect’s pain. I won a recent appeal but they only threw me a few nickels and dimes so now it’s off to the state.
I also got the Berrios endorsement letter which kind of surprised me. Claypools loss stung me the most.
EJ on November 10th, 2010 at 1:32 pm
I don’t care if my landlord’s costs double — if he raises the rent, I’ll move. It’s a buyer’s market not only for buying but also for renting. Anyone who wants GOOD tenants needs to keep rents down or risk losing them. Renters who agree to increases in this economy are stupid, nonconfrontational, or undesirable (i.e., loud, dirty, obnoxious, poor credit, etc.)
Move then. A modest increase like $1 per day or $30 per month is not out of line. If the tenants want to move over an annual $360 increase then move.
“Move then. A modest increase like $1 per day or $30 per month is not out of line. If the tenants want to move over an annual $360 increase then move.”
And it’s less than it costs to move.
“Given the political situation at the Assessor’s Office, I doubt an individual’s tax protestation will be successful.”
If you purchase a property significantly below the assessor’s estimated market value, isn’t appealing as easy as completing the necessary form and submitting the closing statement showing the actual market value?
“If you purchase a property significantly below the assessor’s estimated market value, isn’t appealing as easy as completing the necessary form and submitting the closing statement showing the actual market value?”
No.
I challenged my AV this year with the Board of Review and was able to get it reduced ~7%. The AV the BOR assigned to my unit is now lower than my neighbor’s (in the same condo building) yet my full year ’09 taxes are still more than theirs. I am not sure how that works out (same unit, etc). I guess I’ll see what the bill says.
Chris, you need to provide comps as well (same street, building type, etc).
River Forest’s re-assessment was based upon home sale comps at the peak of market – 2006? – without consideration that home prices were already swooning here in 2008. Two houses on our block went from $1+M asking to $700-750,000 sale range in 2008 – 2009, prior to tax credit incentive.
Interestingly, the “comp killer” house that sold in 2006 and created a new “high sale price” for houses of our range for the Assessor, was gut rehabbed, re-listed since 2008, and now in late 2010 priced at its same 2006 “unrenovated” price. House easily had $100,000+ put into it. Just the carrying costs on the house since 2006 must be a killer.
I feel my taxes are too high!
Just wondering if any of the lawyers on this site do property tax appeals? What is the standard rate charged for services, I heard it was free unless the appeal is won, then it is half of the first years savings won by the appeal? Would any of you know of a reputable firm that handles such cases and actually has a successful track record of winning the appeals?
“Would any of you know of a reputable firm that handles such cases and actually has a successful track record of winning the appeals?”
Search for lawyers who donated to both Berrios and M. Madigan.
Sort of off topic, but is there a way to see how much my homeowner exemption is saving me? I recently rented out my place and will lose it next year and would like to update my projected expenses.
Never mind. I asked this question to soon. From the treasure’s website:
“Look under the section of the Second Installment bill entitled How was my tax calculated? If you qualify for and received an exemption, a dollar amount for that reduction will be next to that exemption.”
I do have another question though and see if you can follow me. I know Clio and a few others are landlords. I rented out my place 9/10. Is it kosher to claim the 2nd Q installment as an expense on my 2010 tax return? What’s got me confused is that it’s the property tax for 2009 when I lived there, but I’m paying it now when I have tenants living there. Just thought I’d ask here first before I see what Turbo Tax says in a couple of months.
I definitely recommend hiring a law firm that contributes to Berrios/Madigan (or whoever’s in power) to appeal your property’s assessed value. You’ll have a much better shot at having it reduced than if you use just any sundry attorney. Our condo building has been doing this for a few years and it has resulted in dramatic reductions in our AV.
However, the equalizer is another matter. That’s what determines how your final bill is calculated. Tax appeals have no control over that.
On the other hand, I shudder to think what our tax bills would have been had our lawyers not appealed them during that four to six week window for appealing assessments. They’d be through the roof. I suspect that people who are surprised year after year by their tax bill do not have lawyers automatically appealing their assessments on an annual basis.
Sadly, tax appeals are very much a pay-to-play thing in Illinois. And everyone must appeal to avoid getting soaked. And voters unfortunately voted for more of the same with Berrios.
“Is it kosher to claim the 2nd Q installment as an expense on my 2010 tax return? What’s got me confused is that it’s the property tax for 2009 when I lived there, but I’m paying it now when I have tenants living there.”
That’s what I do…cash accounting. Expense in the year paid.
My taxes went down significantly, but that’s because we had a successful appeal and the assessed value was cut by a third.
For anyone who lives in a condo, you file appeals as an association – individual unit owners generally do not appeal. Most real estate appeal attorneys charge a percent of the first year savings – my fee for the recent appeal was less than half my first year savings, and I get at least two more years of the lower assessed value to enjoy.
I put together a template for calculating property taxes, using 20,000 as assessed value. Hope it helps anyone who is puzzling over the absurdly complex calculation:
1. Estimated market Value (per Cook County) 200,000.00
2. County Assessment Level 10%
3. Assessed valuation 20,000.00
4. State Equalization Factor (changing yearly) 3.37010
5. Equalized Valuation (EAV) (#3 times #4) 67,402.00
6. Homeowner’s Exemption (up to 20,000) (6,000.00)
7. EAV After Exemptions (#5 less #6) 61,402.00
8. Tax Rate (Total) (changes yearly) 0.04627
9. Property Taxes (#7 times #8) 2,841.07
Sorry the above formula didn’t come out properly, but hopefully you can see the formula!
Live in a 3/2 in Northcenter (Hack…wheeze). My bill went down significantly. $2800 first installment, $1100 this bill. Shocked.
yeah condo taxes went down a fair bit.
Got our tax bill today for a 39 unit co-op in Hyde Park. They DOUBLED from last year. Literally doubled.
“Got our tax bill today for a 39 unit co-op in Hyde Park. They DOUBLED from last year. Literally doubled.”
I love watching Democrat voters like you get hosed. Its like calorie free sugar with my morning coffee!
Kenworthey, that is unbelievable (but not totally unexpected). With all of the money the government is spending, that is what is going to happen. How much is the extra tax burden to the individual home owners in your building? If it is more than a few thousand dollars for the year, the building might be in trouble!! Maybe you can appeal?
Wellll…. to be honest, we were probably being underassessed for awhile. We will def. try to appeal (it’s the Chicago way–we do it every three years, like clockwork), but I’m not really hopeful. The increase will amount to about $1000 extra per unit per year, on average.
Oh, and the co-op around the corner from us had their taxes almost quadruple: 58K to 203K. I guess when everyone else is getting their taxes lowered (which seemed to be the theme of this thread), some will have to pay the piper to make up for it.
“Got our tax bill today for a 39 unit co-op in Hyde Park. They DOUBLED from last year. Literally doubled.”
Wow. So sorry to hear this Kenworthey. With prices falling like they are in that neighborhood? Yikes.
Are you back from your Champaign adventure now? What’s going on in real estate down there?
I’m still in Champaign… and thinking of buying a house here! I’ve been thinking of getting advice from you guys; I just have to figure out the right thread to hijack. 😉 (Or, post a link to weblog to get people’s input WITHOUT hijacking your site!) Basically, it’s my friends’ house, where I’m actually living currently. They’d be selling it this summer anyway, before they move to Canada.
It’s amazing what you can get here. The house is a very solidly-built mid-sixties two story, with a great yard, on a secluded street with lots of old growth trees, in a solid neighborhood. It’s 2300 square feet, full basement, two car garage. Zillow (I know, I know) values it at $166,000, which just amazes me. Oh, and microbrews are only $4 a pint here, too. 🙂 Good times!
Excellent Kenworthey. I think Champaign has many great neighborhoods. Is there a house nearby that would be the competition? Send me a link to some properties at cribchatter@yahoo.com and I’ll do a post on it and see what the crowd has to say. 🙂
“It’s amazing what you can get here. The house is a very solidly-built mid-sixties two story, with a great yard, on a secluded street with lots of old growth trees, in a solid neighborhood. It’s 2300 square feet, full basement, two car garage. Zillow (I know, I know) values it at $166,000, which just amazes me.”
I went to a family wedding reception/party over the summer down in Champaign, held at the groom’s parents house. They’re a regular upper middle class family. Decent house in a nice neighborhood, bigger lots than Chicago. Similar looking neighboring houses were listing in the mid #100K range.
i rented a 1 bedroom plus den for $250 a month and heat was included!!!
Update: I called the IRS and they said even if I used cash accounting as opposed to accrual, I could not claim the 2009 property taxes as a 2010 expense.
I also spoke with the assessor’s office and they said you have to live in the house for the whole year, not just a/o 1/1/XX to claim the homeowner’s exemption.
Excellent! I will def. send you some listings–it will be fun to hear what the chatterers have to say. (Probably some time in January, which is about when I’ll be moving on this–have to get a job offer first.)
DZ–it’s amazing isn’t it? Groove–things aren’t that good anymore. Or, at any rate, you might still be able to get a 1BR plus den with heat included, but might have a mold carpet or no kitchen or something. 😉
“Groove–things aren’t that good anymore. Or, at any rate, you might still be able to get a 1BR plus den with heat included, but might have a mold carpet or no kitchen or something. ;)”
it was a while ago since i lived there, but you probably could get close to that on campus?
i did 6 months of on campus until i just snapped, being as close to prospect ave was the best thing for my sanity i ever did!