View in: Desktop
Copyright @2024 TigerDroppings.com. All rights reserved.
- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Posted by
Message
Cook County Assesor manipulating property taxes
Posted by athenslife101 on 12/10/17 at 1:44 pm200
LINK
frick this guy,
Makes you wonder how often this happens in counties where there isn’t enough money to do these sort of investigations.
Good job Chicago Tribune.
Basically, the assessor was undervaluing businesses in prime real estate and charging home owners the difference.
And it’s not just poor neighborhoods that are being screwed over. I have a coworker whose paying 12-15 k a year in property taxes on his ~300k home.
Edit: Adding original story and quite I saw on this topic
LINK
frick this guy,
Makes you wonder how often this happens in counties where there isn’t enough money to do these sort of investigations.
Good job Chicago Tribune.
quote:
So the Tribune stepped in, compiling and analyzing more than 100 million property tax records from the years 2003 through 2015, along with thousands of pages of documents, then vetting the findings with top experts in the field. The process took more than a year. The conclusion: Residential assessments have been so far off the mark for so many years that the credibility of the entire property tax system is in doubt.
Basically, the assessor was undervaluing businesses in prime real estate and charging home owners the difference.
And it’s not just poor neighborhoods that are being screwed over. I have a coworker whose paying 12-15 k a year in property taxes on his ~300k home.
Edit: Adding original story and quite I saw on this topic
LINK
quote:
In 2014, for instance, a building on Oak Street in the Gold Coast neighborhood sold for $14.9 million. The next year, the assessor’s office valued the building at $3.6 million — less than a quarter of the sales price. A year after that, in 2016, the building sold for even more: $23 million.
Eight miles west, a small industrial shop in the working-class Belmont Central neighborhood sold for $110,000 in 2015. The assessor’s estimate that year was $207,140, nearly double the sale price.
The effects of flawed commercial and industrial valuations aren’t limited to people who own businesses. Owners of residential properties, as a group, also ended up paying more in property taxes than they would have if the assessor’s office had done its work properly.
The total amount of property taxes levied in a given year is fixed, so if one group of property owners doesn’t pay its fair share, others have to make up the difference. And for years, the county has significantly undervalued commercial and industrial properties as a class, according to the ProPublica Illinois-Chicago Tribune analysis as well as studies conducted by the Illinois Department of Revenue.
That means the estimated total value of those properties, after appeals, was on average less than it should have been.
This post was edited on 12/10 at 8:33 pm
re: Cook County Assesor manipulating property taxesPosted by geauxtigers87 on 12/10/17 at 1:46 pm to athenslife101
He's obviously not on a mission from God
re: Cook County Assesor manipulating property taxesPosted by saintsfan22 on 12/10/17 at 1:46 pm to geauxtigers87
re: Cook County Assesor manipulating property taxesPosted by upgrayedd on 12/10/17 at 1:46 pm to athenslife101
re: Cook County Assesor manipulating property taxesPosted by upgrayedd on 12/10/17 at 1:47 pm to saintsfan22
quote:
saintsfan22
re: Cook County Assesor manipulating property taxesPosted by saintsfan22 on 12/10/17 at 1:47 pm to upgrayedd
re: Cook County Assesor manipulating property taxesPosted by LSUsmartass on 12/10/17 at 1:50 pm to upgrayedd
I don't get it
re: Cook County Assesor manipulating property taxesPosted by Fivestarschief on 12/10/17 at 1:54 pm to athenslife101
They don't call it Crook County for nothing.
re: Cook County Assesor manipulating property taxesPosted by upgrayedd on 12/10/17 at 1:56 pm to LSUsmartass
quote:
I don't get it
re: Cook County Assesor manipulating property taxesPosted by retooc on 12/10/17 at 2:35 pm to athenslife101
Any chance I get some money back ?
ETA I paid cook county property taxes from 08-13
ETA I paid cook county property taxes from 08-13
This post was edited on 12/10 at 2:36 pm
TD SponsorTD Fan
USA
Member since 2001
USA
Member since 2001
Thank you for supporting our sponsors Posted by Site Sponsor to Everyone
Advertisement
re: Cook County Assesor manipulating property taxesPosted by Golfer on 12/10/17 at 2:47 pm to athenslife101
I began reading it and will take a better look at the data later, but I'm assuming the Tribune is referring to the effective rate rising more for less-affuent properties because of the following.
1. Property Value is set by the appraiser, typically based on the most recent sales price.
2. Reassessment of the home occurs at some uniform rate every few years.
3. Property Taxes continue to rise.
4. Home values in wealthier areas out-pace the reassessment rates, while property values decline in other areas...yet reassessments downward aren't occurring.
I've dealt with this in my neighborhood such as my neighbor, who has a very similar house but has lived here for 20 years, pays 1/4 the property tax that I do because I purchased mine 2 years ago and reassessments haven't kept pace with home sales.
1. Property Value is set by the appraiser, typically based on the most recent sales price.
2. Reassessment of the home occurs at some uniform rate every few years.
3. Property Taxes continue to rise.
4. Home values in wealthier areas out-pace the reassessment rates, while property values decline in other areas...yet reassessments downward aren't occurring.
I've dealt with this in my neighborhood such as my neighbor, who has a very similar house but has lived here for 20 years, pays 1/4 the property tax that I do because I purchased mine 2 years ago and reassessments haven't kept pace with home sales.
This post was edited on 12/10 at 2:50 pm
re: Cook County Assesor manipulating property taxesPosted by athenslife101 on 12/10/17 at 2:48 pm to retooc
I think that waits to be seen. The illustrious mayor is still supporting his lackey I believe. I think he said something about “we all make mistakes.”
re: Cook County Assesor manipulating property taxesPosted by athenslife101 on 12/10/17 at 2:53 pm to Golfer
2 examples I’ve seen were one business was assessed at the same value for 3 years in a row down to the cent which they say should be an impossibility.
Also, they valued one building for 3 million that sold for 26 million. Lots of screwy things that don’t make sense.
Chicago is going through a major building boom and how much of that is affecting this?
Also, they valued one building for 3 million that sold for 26 million. Lots of screwy things that don’t make sense.
Chicago is going through a major building boom and how much of that is affecting this?
re: Cook County Assesor manipulating property taxesPosted by athenslife101 on 12/10/17 at 3:23 pm to Golfer
FWIW, there’s are other articles that deal more with the businesses that I mention
re: Cook County Assesor manipulating property taxesPosted by BigPerm30 on 12/10/17 at 3:35 pm to athenslife101
Orleans is doing the same thing. Go look at the assessments in the French Quarter. They must be paying off the assessor because they are about 1/8 of what the actual value is.
re: Cook County Assesor manipulating property taxesPosted by TigerstuckinMS on 12/10/17 at 4:48 pm to upgrayedd
Every time I see that picture, I can't believe that is who that is. If I didn't know, I'd never be able to tell you who that is just from that picture.
re: Cook County Assesor manipulating property taxesPosted by SeeeeK on 12/10/17 at 5:25 pm to athenslife101
Illinois needs every cent they can get.
they will ALWAYS be broke, they owe so much to union-liberal politician crooked pensions, that they can NEVER pay what they owe.
State Unions would pay off Politicians, who would keep voting for raises and more $ to pensions. Rinse, repeat for decades and decades. Now they have Nothing to pay into them.
And it sounds like the morons are going to vote in another Democrat Governor, who will continue the stupidity and keep them even more broke. They write iou's to cover iou's, that already are covering another iou.
they will ALWAYS be broke, they owe so much to union-liberal politician crooked pensions, that they can NEVER pay what they owe.
State Unions would pay off Politicians, who would keep voting for raises and more $ to pensions. Rinse, repeat for decades and decades. Now they have Nothing to pay into them.
And it sounds like the morons are going to vote in another Democrat Governor, who will continue the stupidity and keep them even more broke. They write iou's to cover iou's, that already are covering another iou.
re: Cook County Assesor manipulating property taxesPosted by TennesseeFan25 on 12/10/17 at 5:28 pm to athenslife101
quote:
. I have a coworker whose paying 12-15 k a year in property taxes on his ~300k home.
That doesn’t sound believable, I’m in Cali and ours were 7300 for the year on 500K
re: Cook County Assesor manipulating property taxesPosted by johnnyrocket on 12/10/17 at 5:45 pm to athenslife101
It goes on all over even in EBRP.
One lady bragged that her family was connected to the tax accessor which she got some advantages. I looked at what she paid on property taxes one year and she was correct.
Corruption all over and no one does anything about it.
One lady bragged that her family was connected to the tax accessor which she got some advantages. I looked at what she paid on property taxes one year and she was correct.
Corruption all over and no one does anything about it.
re: Cook County Assesor manipulating property taxesPosted by MrLSU on 12/10/17 at 5:46 pm to athenslife101
Same thing happens in Louisiana in every single Parish thanks to the corrupt Louisiana Tax Xommission.
Back to top
Follow TigerDroppings for LSU Football News