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Old 04-13-2015, 12:22 PM
 
4 posts, read 4,252 times
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Hello,

I am hoping someone can direct me to info stating the property tax rate for a new home in Lemont, Cook County. The realtor is telling em it will be 2% of build price. I find that a little too low to believe. Is she correct?

Thanks
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Old 04-13-2015, 09:30 PM
 
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Default Probably too low...

Compare the rates of the various school districts...
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Old 04-14-2015, 08:53 AM
 
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Can you find a handful of similar houses to the one you are considering and look at their tax histories?
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Old 04-14-2015, 01:19 PM
 
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Here is what I researched. Is there anything wrong with these calculations?

Assessors Fair Market Value: $500,000 [Is this the purchase price?]
Assessment Percent: x 0.10
Assessed Valuation: $50,000
Equalization Factor: x 2.6621
EAV (before exemption): $133,105
Homeowner's Exemption: - 12,000
EAV (after exemption): $121,105
Lemont Suburban Tax Rate: x 8.539%
Yearly Tax Amount: $10,341

Comes out to around 2.07%
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Old 04-15-2015, 11:56 PM
 
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Lemont is pretty well established, so 2% is not out of the ball park.

I'm in Homer Glen, which is not as well established, I bought new, and mine are about 2.5%. I moved here in 2006, and my taxes have stayed steady and have even dipped the past few years.

He's in the ball park.
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