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Old 07-05-2010, 08:00 AM
 
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Looking for info on which community has the lowest real estate taxes, generally. I would much rather put as much of my monthly payment into my home as opposed to taxes, if possible. Thank you for your feedback!
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Old 07-05-2010, 12:49 PM
 
Location: Land of debt and Corruption
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I'm just guessing, but I would think Oak Park to have the highest, next LaGrange, and lastly Riverside for comparable properties. You can always look up assessed valuations on the Cook County Assessor's Website since all three are in Cook, but the multipliers each locality uses would be slightly different.
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Old 07-05-2010, 02:54 PM
 
Location: Chicago, Little Village
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Quote:
Originally Posted by whatyousay View Post
I'm just guessing, but I would think Oak Park to have the highest, next LaGrange, and lastly Riverside for comparable properties. You can always look up assessed valuations on the Cook County Assessor's Website since all three are in Cook, but the multipliers each locality uses would be slightly different.
Riverside's I think are higher to be honest, though that comes from more informal observation than anything. No idea about LaGrange. You should call a realtor in the area and get the tax rate.
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Old 07-06-2010, 10:28 AM
 
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The rates are published by the county, but without having the assessed valuation of specific properties in hand there is a lot of guessing involved...

Frankly there are lots of homes in all those towns that have market values well north $400k and property tax bills that exceed $10k.

The money you pay in property taxes is a nice deduction for your income taxes. It supports schools, parks, libraries, fire fighting capabilities, law enforcement, zoning, and a whole bunch of other direct services that help to maintain housing values. The towns you cited are among the most attractive and convenient western suburbs, but towns with crummy schools and other amenities are also adjacent -- the taxes bills there are far lower, as are the property values. Funny how that works...
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Old 07-06-2010, 06:58 PM
 
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Anecdotally, I've been looking at homes in La Grange and Oak Park for a few years now, and the taxes seem to be comparable for the homes in my price range. La Grange is maybe a little bit lower, but not by a large amount. I'm typically looking at the MLS data for homes under $500,000.
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Old 07-07-2010, 07:47 AM
 
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Yes, I too try to refer to MLS listings for information but they do not typically list taxes which is unfortunate. I do know that different factors affect the real estate taxes for a property (i.e. senior deduction, homestead deduction, etc) but it would be nice to have that info in the listing as well (without having to go through the broker). Thanks for input everyone.
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Old 07-07-2010, 11:13 AM
 
Location: Land of debt and Corruption
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If you have a specific house you want to look up, zillow gives you the property tax paid (as opposed to comparing assessed valuations). It's kind of a nice way to compare.
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Old 07-07-2010, 11:59 AM
 
Location: Oak Park, IL
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Quote:
Originally Posted by bkypjy View Post
Yes, I too try to refer to MLS listings for information but they do not typically list taxes which is unfortunate. I do know that different factors affect the real estate taxes for a property (i.e. senior deduction, homestead deduction, etc) but it would be nice to have that info in the listing as well (without having to go through the broker). Thanks for input everyone.
Any decent real estate site will have the most recent property tax bill.
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Old 07-07-2010, 12:59 PM
 
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Property tax that was paid may include any of the various limits / waivers that are available to the elderly, infirm or low income...

The country records MUST specify this. In MLS this is optional. Who knows what standard Zillow uses...
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Old 07-07-2010, 01:48 PM
 
Location: Land of debt and Corruption
7,545 posts, read 7,980,716 times
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Quote:
Originally Posted by chet everett View Post
Property tax that was paid may include any of the various limits / waivers that are available to the elderly, infirm or low income...

The country records MUST specify this. In MLS this is optional. Who knows what standard Zillow uses...
Yes, it's good to be suspect when you see outliers. Chances are, the homeowners are taking the senior exemption if the taxes seem very low or the home is investment property (no homeowner exemption) if the taxes seem very high. Zillow is still a good way to ballpark though, and I've found it very accurate. They are just taking the info off of the county assessor site, not some mysterious made-up standard of their own like they do with property values.

Since we're discussing 3 towns all located in Cook County, what other exemptions/limits/waivers are there other than seniors' freeze or homeowners' exemptions? I thought those were the only two in Cook County?
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