Was helping a new purchaser finish up with a few loose ends regarding his new home purchase in Hoffman Estates. Big problem - his taxes. Don't quite know what the previous owner did but it's a costly mistake. An absolute blunder! Taxes on this house are now $5809.07 for 2007. Before you say - well too bad this rich guy deserves those taxes - think again! Let me tell you that this is great ranch house in a 'regular Joe' subdivision in Hoffman Estates with 3BR 2 BA's, Familyroom addition with fireplace, 2 car garage, regular sized lot. The amazing thing is when you delve further into similar homes the injustice and inconsistencies with Cook County just kicks you right in the head!
So let's look at the comparable properties that I used all in the same subdivision:
#1 3 blocks away from subject - Ranch, 3BR 1.5BA, Familyroom addition, Fireplace, 2 Car Detached Garage. Taxes for 2007 = $3504.18 -2304.89
#2 6 blocks away from subject - Ranch 3BR 1BA, Familyroom addition, Fireplace, 2 Car Detached Garage Taxes for 2007 = $3754.23 -2054.84
#3 5 blocks away from subject Ranch 3BR 1BA, Familyroom addition, Fireplace, 2 Car Detached Taxes for 2007 = $4287.56 -1521.51
#4 3 blocks away from subject - Ranch 3BR 2BA, Familyroom addition, NO Fireplace, 3 Car Detached Taxes for 2007 = $3245.31 -2563.76
So it's an easy choice, a 'no brainer' if you will. The new owner is going to file an appeal with either the Cook County Board of Review or with the Cook County Assessor.
Either way, it's a good bet that you should file an appeal
because you should only pay your due portion and absolutely nothing
more! The
variances of tax amounts is what I am trying to point out to you in
this post.
Virtually the same house, plus or minus 40 sq feet or so and
the
tax range can be huge if you don't do anything about it. I wanted to quote a message from John Lawson at the Schaumburg Tax Assessors Office from the Town Crier Bulletin:
Other ways to be sure your taxes are as low as possible - Senior Exemptions! If you were born in 1943 or before, you are entitled to the senior exemptions. There are three exemptions that seniors may be eligible for: Homeowners Exemption, Senior Exemption and Senior Freeze.
Exemptions are deductions applied to your real estate tax bill, if you qualify. The exemptions are only applied ON THE SECOND INSTALLMENT of your property taxes every year. If you qualify and the exemptions were not applied, you can file a 'CERTIFICATE OF ERROR' to correct this error at the Schaumburg Township Assessors Office; Rolling Meadows Assessor's Office; or the Chicago Assessor's Office.
In recap, we are filing on two different grounds: Uniformity Appeal - the assessed valuation of your home is not in line with the assessed valuations of other homes, comparing your property to similar homes. Overevaluation Appeal - appeal if you believe the estimate of the property value is overvalued for any reason.
So this post will be marked 'to be continued'. But this gives you some guidelines and suggestions should you decide to appeal your taxes with Cook County.
And you thought Realtors only knew about real estate!
Lyn Sims (847)230-7324 RE/MAX Suburban
I proudly serve and sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Schaumburg, Hoffman Estates, Elk Grove Village, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Bartlett, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.
Easiest Strategy for lowering your property taxes
Resources: MRED MLS, Cook County Assessor, Cook County Treasurer, Town Crier October 2008 - "All names were changed to protect the innocent" and addresses were deleted but can be provided upon request.
Tax Appeal Process - Cook County IL©2008 Lyn Sims - RealEstateConsumerInfo.com All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.
© 2010 Lyn Sims
Lyn, something is rotten in Denmark with the taxes compared to those other properties. I think an appeal seems most justified.
Gary: Real life examples from our area. Hopefully taxpayers will pay attention.
Lyn, looks like the subject property does not have the homeowner's exemption, but the comparables do. Is that correct?
Well yes and no. One did not also have the homeowners exemption and was significantly less. I was using the assessed value on comparing. Similar 3BR 2BA house was at 'x' then another similar was at 'y'. Both had drastically different taxes. Granted they won't be the exact same but 100's of dollars or thousands is not correct also. Using the MLS room sizes and features I get to truly assess what each home has from previous sales also.
Subject did not have the exemption but then that would not have equalized the taxes. Something was terribly wrong with the assessment so not having the exemption was minor.
I very much appreciate you stopping in to comment. Hope that helps you.
Good info. I have worked with Assessor Lawsons office in the past and he is there to help the tax payer. Maybe you can post his info? Did you ever think of asking him to hold a seminar for you?
Dear Allen: Thank you for your opinion, it is always welcome. What is not welcome is a sales pitch for the Schaumburg Assessor's Office. I am not convinced that they WHOLE HEARTEDLYwork for the taxpaper assisting them in reducing their bills or pay only their fair share. I personally have had many a bad experience and good experience with their assistance. I have also assisted elderly taxpayers who get 'pushed around' much to easily by the system and the people there behind the counter. I've stepped in to help, both in person and with this blog.
This will stay posted only for a short while and then removed. I do not personally need a seminar but I think that one should be helpful for the public MANY TIMES A YEAR, instead of only the one or two done during a reassessment year. In these tough financial times, people are scared they cannot pay their tax bills and lose their homes. Wish the assessor's office would remember that.
How about encouraging homeowners to file appeals before they put the house on the market? It would help both the homeowner and the potential buyer don't you think?
Thanks
Yes Sandra that would work. Some homeowners don't want to take the time as it is time consuming to do so. It would make their home more saleable in this market. In fact in my one post I have mentioned that Cook County will be lowering your assessment value sometime soon (depending on township) and this will be a first! Please be watchful in your mail and be sure to have your neighbors also watch so you don't miss it coming in the mail soon!
You want to be sure that it is lowered to today's market. Previous post
In fact in my one post I have mentioned that Cook County will be lowering your assessment value sometime soon (depending on township) and this will be a first! Please be watchful in your mail and be sure to have your neighbors also watch so you don't miss it coming in the mail soon!
NOW THAT'S NEWS I CAN USE...........AWESOME!!!!
Thanks
Better watch, they are sending by township. Link to latest news section.