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Updated Feb 02

Property Tax Confusion

Good morning - renting now, but can anyone describe or provide a resource for the current tax formula for homes in Chicago? Benefits of owner-occupied 2-flat? Homestead exemption/reduction? Thanks!

  • I am a Realtor that lives in Lincoln Square for 20 yrs. There are many benefits to owning a 2flat and living in it. From the type of loan you can get to the deductions you can take. Cook county taxes are based on current assessed values of the homes...

    Read full comment…

    I am a Realtor that lives in Lincoln Square for 20 yrs. There are many benefits to owning a 2flat and living in it. From the type of loan you can get to the deductions you can take. Cook county taxes are based on current assessed values of the homes around you! This is a product of recent sales. If the particular building you have in mind has not been vigilant in appealing inaccurate assessed values/and so higher tax bills the new owner will have some work to do. The homeowners exemption is available to everyone who lives in their residence. I would love to help you, contact me for more info...far too much to put in a blog...jackie.beatka@bairdwarner.com

  • Lifeischanging Building Owner 36yr resident

    Owner occupied homes that are 5 units or less are entitled to a homeowners exemption.

    The Assessor has details on their site. The poster above is correct that there are too many details to post on a blog in certain situations but your original question is simple. You own where you live. 5 units or less. Apply. Done.

    Last poster is trying to pitch but if you have ever dealt with the nuances of purchasing a property,!your smart enough to learn the property tax process.

    Good luck.

Jan 25

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  • Waters Elementary School reviewed by a parent

    Incredibly engaged parents and an administration that cares about the kids. There are some very gifted teachers here!

    Waters Elementary School (4540 North Campbell Avenue) Published on GreatSchools January 20, 2017 Comment

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  • Permit issued for renovation/alteration

    DECONVERSION AND RENOVATION OF EXISTING TWO UNIT BUILDING TO SINGLE FAMILY HOME WITH NEW REAR SCREENED PORCH. **Certified Plan Corrections Project - Conditional Permit: Subject to field inspections **

    4420 N. Maplewood Ave. Issued January 9, 2017 Comment

Jan 05

Pet store manager chases 3 suspects after theft

According to Cummins, three teens entered the store in the 4600 block of North Rockwell Street and immediately began asking questions about items in the back."They lured me away from...

    Pet store manager chases 3 suspects after theft
    A store manager helped police track down three suspects when thieves stole from a North Side pet food store. Ryan Cummins, the manager of Ruff Haus Pets, said he followed the thieves out of the store and stayed on the phone with police. Before officers arrived, Cummins said he witnessed the suspects stealing packages from several buildings.
    http://abc7chicago.com

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