Property Tax assessment: neighborhood map

[Boris]

Keep in mind that the 7% tax cap if you have the homeowner's exemption will limit the amount your taxes will rise no matter how much the assessment has gone up.  I would still go for a reduction in the assessment to be on the safe side.  The legislature may not be able to keep that in place forever.

True, and the numbers look scarier than they may actually be. Two years ago my homeowner's exemption kicked in, and as i said I got a small break due to an appeal I filed the same day. My property taxes dropped from $5,100 to the low three-thousands (I forget the exact number at the moment...I think it's like $3,200). There was much a whoopin' and a hollerin' at Dragonfly Manor that day. But after the new tax amount was reflected in my mortgage payments, I saw a drop of under $200/month.

Nothying to scoff at, to be sure...but I won't be drivin' no Murcielago either.

[Robert Pauly]

My assessor's statement said:

"In 2006, the Illinois General Assembly decided to renew the 7% provision but amended the bill so that the Expanded Exemption would be phased out over the next three years resulting in a significant increase in taxes for most homeowners."

I read this to say that we'll all be screwed when the 7% cap is rescinded, which might be as early as 2009.  Please correct me if I am wrong.

[tgoddess]

That's pretty much how I interpreted it, too, Robert.

[Boris]

With the economic climate the way it is, and with the Chicago gas tax being the highest in the nation, I would be very surprised if the phaseout plan stuck.

[Nazerac]

Interesting.  Because the appeals form makes it sound like it's an issue...

Foundation or Basement   (select one)        

Reset  to original ( Partial and Rec Room )
1.    Full Basement - Extends under 3/4 or more of the ground floor area.
2.    Slab - No basement; foundation is made of a solid slab of concrete on the ground.x
3.    Partial Basement - Extends under ¼ to ¾ of the ground floor area.
4.    Crawl Space - No basement; space under the ground floor is less than 4 feet high.
 
Basement Finish (select one)

1.    Finished - Basement used as recreation room, study, bedroom or similar living area.
2.    Apartment - Basement has separate utility meter and exterior door.
3.    Unfinished - Basement not finished as recreation room, study, bedroom or similar living area.

So, if I paint the basement floor and walls, throw a couch in and a desk, and use it 3 months of the year when it's neither too cold nor too humid, it is a finished basement or unfinished?  This doesn't make any sense, it seems that it depends on the use of the basement, not whether it is "finished" or not.

[Bear]

With the economic climate the way it is, and with the Chicago gas tax being the highest in the nation, I would be very surprised if the phaseout plan stuck.

Never underestimate boy wonder Erkel.

[MRS. NORTHSIDER]

Interesting.  Because the appeals form makes it sound like it's an issue...

Foundation or Basement   (select one)        

Reset  to original ( Partial and Rec Room )
1.    Full Basement - Extends under 3/4 or more of the ground floor area.
2.    Slab - No basement; foundation is made of a solid slab of concrete on the ground.x
3.    Partial Basement - Extends under ¼ to ¾ of the ground floor area.
4.    Crawl Space - No basement; space under the ground floor is less than 4 feet high.
 
Basement Finish (select one)

1.    Finished - Basement used as recreation room, study, bedroom or similar living area.
2.    Apartment - Basement has separate utility meter and exterior door.
3.    Unfinished - Basement not finished as recreation room, study, bedroom or similar living area.

So, if I paint the basement floor and walls, throw a couch in and a desk, and use it 3 months of the year when it's neither too cold nor too humid, it is a finished basement or unfinished?  This doesn't make any sense, it seems that it depends on the use of the basement, not whether it is "finished" or not.

Unless you pull a permit to do major remodeling or invite the assessor over for a visit I'd say it's unfinished no matter what you do down there - wink wink

[renovatorbear]

Ours went from $23,297 to $25,466.  Up $2,169. 

[marie]

Ours went up about 2000.00 also.  What does this mean when the tax bill arrives next year?

[Boris]

I just checked my appeal status online, and it appears that my "2008 Proposed" is now the same as my "2007 Board Final", meaning the proposed is now "no change"...which would be a very good thing.

If you haven't done so...APPEAL! It's easy and fast. Took me 15 minutes.

[Nazerac]

I just checked my appeal status online, and it appears that my "2008 Proposed" is now the same as my "2007 Board Final", meaning the proposed is now "no change"...which would be a very good thing.

If you haven't done so...APPEAL! It's easy and fast. Took me 15 minutes.

Same here 


Have they updated the "2008 Current" on your online appeal?

[k6s2zvfw]

tgoddess,

i got you topped. my assessment increase for my 22 unit on the corner of kenilworth & cermak went up over

70 %   !!!!!

i cannot remember the assessment levels off the top of my head, but the bill will go from the mid 40's to the low 70's.


yes------- that's  a  $70,000 BILL prior to any appeal.   total and complete utter bullsh*t in this economy.


folks, take your percentage assessment increase , in most of these examples 20-25%, and that will
be your increase on your actual property tax bill (absent the 7/7/7 legislation)

mike

[Bear]

tgoddess,

i got you topped. my assessment increase for my 22 unit on the corner of kenilworth & cermak went up over

70 %   !!!!!

i cannot remember the assessment levels off the top of my head, but the bill will go from the mid 40's to the low 70's.


yes------- that's  a  $70,000 BILL prior to any appeal.   total and complete utter bullsh*t in this economy.


folks, take your percentage assessment increase , in most of these examples 20-25%, and that will
be your increase on your actual property tax bill (absent the 7/7/7 legislation)

mike

Pay up ghetto boy and quit your whining...WTF do you expect as a commercial
property owner in cook county?

Gee...guess it put a dent into your obscene profits eh?

[k6s2zvfw]

bear,

i educate, you blabber like an idiot.

is that simple enough for you to understand?

trying to provoke me, eh? what do you want me to undress you yet again?

wow, i got through that without swearing, i'm actually quite proud of myself.

mike

[OakParkSpartan]

And I'm proud you didn't call him any names either.

[Bear]

"what do you want me to undress you yet again?"

I don't go that way mikey...but does your family know of your latent
tendencies to undress me?

[J'sMom]

I just checked my appeal - denied on August 4th. May want to check yours.

[Nazerac]

Denied on August 5 ... up 10-10.5 %

What is interesting, the land went up 40% but the building on 3%

[Boris]

I just checked my appeal - denied on August 4th. May want to check yours.

...same here.

[Nazerac]

God darn tax & spend liberals, right Boris?