U.S. property owners, including those in the Chicagoland area, are currently facing real financial pressures in the face ... Why? One reason is ... it's real estate property tax time across much of America.
In many areas of our nation, property taxes are presently being issued and 1st installment of tax payments are coming due.
That is certainly true in the Chicago Metropolitan Area.
In Chicago's Southland, Will County real estate taxes were mailed out and posted online beginning on May 1st, 2020.
Will County property owners' 1st installment of taxes will come due for payment soon ... on June 3rd, … (4 comments)
Present & Future Will County Property Owners: What You Need to Know About Property Assessments
Are you presently ... or are you considering becoming a homeowner in Will County, IL? Then the WHEN, WHAT, WHERE, and HOW of taxes and property assessments are ... and should be ... very important to you. Property owners (and those looking to buy a home) need to know the following:
How much their property taxes are (or will be) When tax installments are due How taxes are calculated What tax rates are Where and how to pay taxes If a Tax Escrow should-or-is required in a monthly mortgage payment How real estate is assessed … (4 comments)
Taxes May Be Inevitable for Property Owners ... But Tax & Assessment Surprises are NOT
“Tis impossible to be sure of anything but Death and Taxes.” Christopher Bullock, an English actor, and dramatist, 1716
For property owners in Will County, IL, the inevitable ... the receipt of a real estate tax bill ... has once again occurred.
Tax Bills for the County were put in the mail on Friday, May 3rd, 2019, and should, by now, be in most property owner's possession. This event and the reaction to it on many social media venues remind me that real estate … (15 comments)
property assessments: No doubt your Assessment will be $X so now the mortgage payment is...
- 01/09/18 10:52 AM
The topic of Property Assessments (and taxes) are vitally important for Buyers to understand throughout every step of the buying and mortgage process ... from the choice of homes to view and consider for purchase, to mortgage pre-approval, to figuring escrows, to Closing. Choice of Lender is important ... and it's one area where I humbly state that my experience and background of 25+ years of Real Estate Appraising serves my clients and professional referral partners extremely well. I know Illinois ... and specifically Chicagoland County/Municipality taxing bodies and systems like the back of my hand. That knowledge and expertise serves them … (4 comments)
In Will County, Illinois ... Property taxes are paid to the Will County Treasurer twice a year ... The first installment of Real Estate taxes is typically due around the beginning of June and the second installment becomes due around the beginning of September. When paid, the installments cover the previous year's taxes due. Example: The payment dates for 2016 Will County taxes were June 1, 2017 for the 1st installment ... and the 2nd installment is due on September 1st, 2017. (Will County taxes, like most IL Counties, are paid one year in arrears). Escrow Accounts: Many homeowners have … (6 comments)
The topic of property taxes is always an important one when speaking to my clients ... either because it will show as a proration needing to be paid on their home purchase ... or because it effects their escrow account for future monthly payments. What property taxes do or pay for ... and the perception of such, are often two completely different things. But the fact is, that in Illinois ... local governments alone levy and collect property taxes.
Information Available at the Tips of Your Fingers. Tapping Information Available Through Chicagoland County Websites Why and How It's Important ... I've written more than a few times, that I have a background of over 20+ years as a licensed IL Real Estate Appraiser. Back when I started in the mortgage business, it wasn't uncommon for mortgage lenders to have dual responsibilities within their companies like this. And of all the additional things I've studied, learned, and tackled within the framework of my years of mortgage services, I've found that my appraising … (11 comments)
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