Time to Move
Jul. 1st, 2020 08:49 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
billroperIt is time to move out of Illinois, or at the very least, to move out of Cook County.
Our new "scientific" assessor vastly inflated the values of the properties in this neighborhood in his last round of assessments. There *was* a tool on the website that I used at one point where I found a home comparable to mine that had sold *last year* for 10% *less* than the new "scientific" assessment.
I paid for a property tax appeal. I got a *tiny* reduction in my assessment.
My second property tax bill has arrived and my property taxes have gone up by thirty six percent, which is absolutely absurd. According to our "scientific" assessor, my house is worth $596,500, which would be not be true even if it had gold-plated toilets. Understanding that Zillow estimates are not wonderful, even so, not a single house on my street -- save for the one that just had a gut rehab after a foreclosure sale -- shows up as worth more than $440,000. They've got that one assessed at $586.350. The gut rehab house sold for $470,000 three years ago. It's assessed at $593,340. That's 26% more than the last sale price, so 12% annual appreciation in 2018 and 2019. I'm sure that's absolutely what happened.
The algorithm they're using here is garbage.
Our assessor is garbage.
Our new "scientific" assessor vastly inflated the values of the properties in this neighborhood in his last round of assessments. There *was* a tool on the website that I used at one point where I found a home comparable to mine that had sold *last year* for 10% *less* than the new "scientific" assessment.
I paid for a property tax appeal. I got a *tiny* reduction in my assessment.
My second property tax bill has arrived and my property taxes have gone up by thirty six percent, which is absolutely absurd. According to our "scientific" assessor, my house is worth $596,500, which would be not be true even if it had gold-plated toilets. Understanding that Zillow estimates are not wonderful, even so, not a single house on my street -- save for the one that just had a gut rehab after a foreclosure sale -- shows up as worth more than $440,000. They've got that one assessed at $586.350. The gut rehab house sold for $470,000 three years ago. It's assessed at $593,340. That's 26% more than the last sale price, so 12% annual appreciation in 2018 and 2019. I'm sure that's absolutely what happened.
The algorithm they're using here is garbage.
Our assessor is garbage.