Lincolnwood, IL - Possible illegal activity regarding property taxes (Skokie: sales, assessor)

[Chi_42]

I live in Lincolnwood, IL. For those of you who have never heard of Lincolnwood, it's located right next to Skokie, IL.

Recently, the Cook County Assessor came out with assessed values of homes in Cook County. If a homeowner is not satisfied with the assessed value of his home, then he can appeal the assessed value. Usually, a homeowner wants his assessed value to be as low as possible, so as to minimize his property taxes. For my appeal, I looked for Lincolnwood homes that are comparable to my home in the categories of Square Footage (Land), Square Footage (Building), Age, and Garage.

My home was assessed at around $348000. However, a half-mile from my home (but still in Lincolnwood) is a home that is comparable to my home in the categories of Square Footage (Land), Square Footage (Building), and Age. Also, this other home has a detached garage that is bigger than my detached garage. This home has been assessed at only $290000.


I did some checking, and I found out something very interesting about 3 homes that are right next to the $290000 home.

Let's call these 3 homes Home A, Home B, and Home C. In each of the categories of Square Footage (Land), Square Footage (Building), Age, and Garage, Home A is either comparable or inferior to the $290000 home. The same is true of Home B and Home C.

Well, guess what? Home A, Home B, and Home C are each assessed at about $348000.

The $290000 home is comparable or superior to my home and to Homes A, B, and C. Yet, the $290000 home is assessed at a much lower value.


I did some more checking, and I found out that the $290000 home had most recently been sold in August 2017 for only $145000. The seller and the buyer seemed to be members of the same family. Before August 2017, the home had last been sold in November 1999 for $245000.

So, here is what I'm thinking: One member of a family sold the home to another family member for the artificially low price of $145000, in order to keep property taxes low.


If what I'm thinking is correct, was there any law broken? If yes, to which government agency do I report this violation of the law? It seems unfair that someone is allowed to pay low property taxes because of a sweetheart deal between family members.

[rrah]

"If what I'm thinking is correct, was there any law broken? If yes, to which government agency do I report this violation of the law? It seems unfair that someone is allowed to pay low property taxes because of a sweetheart deal between family members."

Quick answer-no laws were broken. There could be hundreds of reasons one family member sold a property to another family member for a low price. Not knowing the names of the family members, it almost sounds as if it was a divorce. The couple bought the home together and then one party "sold" it cheaply to the other to make up for their share of the equity or whatever.

[fusillirob1983]

Could be a number of things.

Could've been a senior who passed away and the house could've been in terrible condition that the heirs sold it for a very low price just to get rid of it.

[damba]

OP: You don’t have enough info to make any assumptions.

[smegmatite]

what is your problem, mind your own business!

[deeman7]

You or your lawyer can use that home's assessed value as evidence to adjust the value of your home.


I can see a situation where someone with a grown children out of the house wants to downsize and sells their house to one of their kids for a good deal.

[Chi_42]

Originally Posted by deeman7

You or your lawyer can use that home's assessed value as evidence to adjust the value of your home.

I'm probably going to try that and see what happens.

I can see a situation where someone with a grown children out of the house wants to downsize and sells their house to one of their kids for a good deal.

But should the kid get a property-tax break because of the parents' good will?

[deeman7]

The sale price doesn't really impact the assessed value as much as you'd think.

[damba]

Originally Posted by Chi_42

I'm probably going to try that and see what happens.



But should the kid get a property-tax break because of the parents' good will?

Why are you conflating sales price with assessed value(?)

[ez1234]

Originally Posted by Chi_42

I live in Lincolnwood, IL. For those of you who have never heard of Lincolnwood, it's located right next to Skokie, IL.

Recently, the Cook County Assessor came out with assessed values of homes in Cook County. If a homeowner is not satisfied with the assessed value of his home, then he can appeal the assessed value. Usually, a homeowner wants his assessed value to be as low as possible, so as to minimize his property taxes. For my appeal, I looked for Lincolnwood homes that are comparable to my home in the categories of Square Footage (Land), Square Footage (Building), Age, and Garage.

My home was assessed at around $348000. However, a half-mile from my home (but still in Lincolnwood) is a home that is comparable to my home in the categories of Square Footage (Land), Square Footage (Building), and Age. Also, this other home has a detached garage that is bigger than my detached garage. This home has been assessed at only $290000.


I did some checking, and I found out something very interesting about 3 homes that are right next to the $290000 home.

Let's call these 3 homes Home A, Home B, and Home C. In each of the categories of Square Footage (Land), Square Footage (Building), Age, and Garage, Home A is either comparable or inferior to the $290000 home. The same is true of Home B and Home C.

Well, guess what? Home A, Home B, and Home C are each assessed at about $348000.

The $290000 home is comparable or superior to my home and to Homes A, B, and C. Yet, the $290000 home is assessed at a much lower value.


I did some more checking, and I found out that the $290000 home had most recently been sold in August 2017 for only $145000. The seller and the buyer seemed to be members of the same family. Before August 2017, the home had last been sold in November 1999 for $245000.

So, here is what I'm thinking: One member of a family sold the home to another family member for the artificially low price of $145000, in order to keep property taxes low.


If what I'm thinking is correct, was there any law broken? If yes, to which government agency do I report this violation of the law? It seems unfair that someone is allowed to pay low property taxes because of a sweetheart deal between family members.

The transaction/sale was non-arms length and should not lower the assessed value of the property based on recent sale or market value. You can try to report this to the assessor, but those cronies won't do anything about it. We have property tax fraud happening all of the time in this state. See the story of a a certain fatass we call governor who removed all of his toilets to avoid paying any property taxes.