Cook County Homeowners - be prepared to put some of that gift-giving money aside.... those property tax bills that were supposed to be mailed out back on August 1st are heading towards your mailbox on Wednesday and will be and payble by December 13th. http://cookcountytreasurer.com/default.aspx
Information for Buyers and Sellers of Chicago Area Residential Real Estate. Learn more at mhwasserman.com.
Comments
In Chicago, that tax rate went down about two tenths of one percent, but the multiplier increased by 13%.
In order that any given tax bill to stay constant or increase only moderately. the properties' assessed valuation must have gone down. By and large, a good many Chicago homeowners did see reduced assessed valuations and they should - like you - see little or no change to their bills this year.
I am in the process of reviewing several tax bills for clients who bought and sold this year. Some have decreased fairly substantially. Others, sad to say, have gone up severely. At least one unfortunate river north condo complex is suffering a 33% increase!.
I suppose that is at least one "positive" in declining property values.
the state multiplier went up pretty substantially so that contributed to your tax increase. also, the method that the county used to compute the size of homeowners exemptions changed this year and perhaps that had some impact too.
on a personal level, i am sorry to hear that your taxes went up so high. as a county resident, i guess i want to thank you for helping to help fund the government and keep our communities as livable as they are.