Jan
26

Property Tax Bills Set to Jump in Cook County For 2009 Tax Year

January 26, 2010

Seeing Red?

If you live in Cook County, you may have noticed an incremental increase in your real estate tax bill.  The first installment of your real estate bill, for the first half of the 2009 tax year for Chicago real estate, has traditionally amounted to half the previous year’s total tax bill.  The bill which was mailed last Friday, reflected a new state law apparently just Cook County, requires that 55% of your taxes are due March 2.  This amounts to a 10% increase in the tax amount to be paid.  Is your Chicago property tax escrow account able to cover this additional amount?

County Treasurer Maria Pappas inserted within the envelope a friendly explanation of the increases of the property tax bill to homeowners.  Welcome to 2010 from your kindly tax collector.  Even though Chicagoland has seen a sharp decline in home values over the past couple years, of which the  assessors calculates your property tax burden, not to worry, your Cook County property taxes are going up.

This increase is designed to help “ make the two installments more equal this year to blunt the effect of the expiration of a state law that limited increases in Cook County residential property tax bills caused by rising home values before the real-estate bubble burst“, quoted the Chicago Tribune.  In other words, expect an equal or greater property tax bill come fall of 2010, just in time for the elections.

Tags:

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

Leave a Comment

Copyright © 2008-2017 mRELEVANCE, LLC | Chicago Real Estate News | Chicagoland Real Estate Forum. All rights reserved. Thank you for visiting Chicago Real Estate News Chicagoland Real Estate Forum, Real Estate Listings and Information Provided by MLC Realty, Inc.
Internet Marketing by Marketing RELEVANCE

Equal Housing Opportunity

1819 W Grand Ave | Chicago, IL 60622