If you are a fan of 'Today' on NBC you might have seen this listing during the "What Can You Buy From Nashville to Salt Lake City" segment.
Find more info at www.ChampaignExperts.com
For those of you lucky enough to own real estate in Champaign County you should have received your real estate tax bill in the last couple of weeks.To help contribute to the joyful occasion I’ve provided info below on the most common real estate tax exemptions and tax freeze opportunities.These are just about the only guaranteed way to reduce your taxes.
You’ve got until June 2nd to pay your bill so just keep smiling!Check out the Champaign County Assessors website if you want to see your tax bill.
This is the most common exemption.As you may have guessed this is for properties that the owners lives in as their primary residence.If you lived in your home as of January 1, 2008 you are eligible for a $5500 reduction in the assessed value.For the 2009 calendar year this reduction will increase to $6000.This could save you $400-$500 per year depending on your specific tax rate.
$4000 Assessment Reduction.This is available to homeowners that are 65 or older as of December 31, 2008.
Senior Assessment Freeze:
If your annual household income is less than $55,000, you were 65 or older as of December 31, 2008 and you used the property as your principal residence as of January 1st of the current assessed year and January 1st of the prior assess year you most likely meet the requirements for this Freeze.It literally ‘freezes’ your assessed value if you meet the requirements the county sets out.One thing to watch on this is that you have to file the form every year to get the benefit.
Homestead Improvement Exemption:
Have you made substantial improvements to your home that will affect the assessed valuation?This exemption gives you 4 years of protection before your room addition or swimming pool will start impacting your real estate taxes.(the limit on this exemption is around $75k)
Veterans that are at least 50% disabled due to a service connected disability can get up to a $5000 reduction in assessed value.(If you are a veteran or active duty and reading this, thanks for your service!)
If you are a disabled person and liable for the property taxes you can apply for the $2000 reduction in assessed value.There are some specific details and I’d suggest contacting the County Assessor for more details.
I'll be following this up with 'part 2' about reducing your assessed valuations soon. Check back for a link to that post in a couple days.
If the excitement of assessment reductions and tax freezes has you interested in owning real estate in Champaign County be sure to check out www.ChampaignExperts.com - Your local Real Estate Experts!
Ok, so this has nothing to do with real estate (unless you count being able to see pictures of Europe...) but I thought this was well worth sharing.
GoingSlowly.com is a journal/diary site for Tara Alan and her boyfriend Tyler as they travel 'round the world' on their bikes. Tara is from Champaign, IL and I know her father, Mark Alan, through a BNI group I am in.
I'm sure their trip is a ton of work but it sounds awesome!
Enjoy!
As always, if you are looking for real estate in Champaign, Urbana or Savoy, IL visit ChampaignExperts.com
Mark Waldhoff CRS, GRI, ePro | Keller Williams Realty | mark@markwaldhoff.com | 217-239-7114
1422 Abercorn, Urbana, IL
Huge 2-Story Home with Full Basement, 4 Bedrooms, 2 1/2 Baths,
2300sqft + full basement
4BR/2.5BA Single Family House
offered at $154,900
Year Built
2005
Sq Footage
2,300
Bedrooms
4
Bathrooms
2 full, 1 partial
Floors
2
Parking
2 Car garage
Lot Size
Unspecified
HOA/Maint
$60 per month
DESCRIPTION
The Franklin 2-Story floor plan offers new construction amenities, style and conveniences at an unbeatable value. 3450 sqft of space including 1150 in the basement provide more than enough space to stretch out and relax. The main floor features a large, eat-in kitchen, a warm and inviting family room with gas fireplace, and formal living and dining rooms. The master suite provides a large walk-in closet, cathedral ceilings and spacious bath. This home also offers new carpet on the main floor, high efficiency A/C and water heater, a 90+ Furnace, low maint. ext. and a full basement wired with elec. outlets and cable throughout. The bsmt is also plumbed for a full bath to accommodate future expansion.
see additional photos below
PROPERTY FEATURES
Central A/C
Central heat
Fireplace
High/Vaulted ceiling
Walk-in closet
Family room
Living room
Dining room
Breakfast nook
Dishwasher
Refrigerator
Stove/Oven
Basement
Laundry area - inside
Yard
COMMUNITY FEATURES
Garage parking
OTHER SPECIAL FEATURES
Pantry
Eat-in Kitchen
Huge Master Suite
Pre-Inspected, email Mark@ChampaignExperts.com for a copy of the report
Mark Waldhoff -- www.ChampaignExperts.com | Keller Williams Realty | mark@champaignexperts.com | 217-239-7114
2708 Landis Farm Road, Urbana, IL
Check Out This Spacious Ranch with Open Floor Plan and a Great Master Suite
3BR/2BA Single Family House
offered at $154,900
Year Built
2005
Sq Footage
1,463
Bedrooms
3
Bathrooms
2 full, 0 partial
Floors
1
Parking
Unspecified
Lot Size
10,000 sqft
HOA/Maint
$100 per month
DESCRIPTION
Looking for an open floorplan and a quiet subdivision? This spacious and inviting home offers a Living Room - Kitchen layout that is perfect for relaxing at home or accomodating family and friends. The Living Room features a gas fireplace, multifunctional mantle and cathedral ceilings. The Kitchen is loaded with cabinets and offers a pantry for additional storage. The split floorplan gives the master suite a bit of seclusion by separating it from the guest bedrooms. The master suite offers 2 closets (including one walk-in) and a private bath. The 2 additional bedrooms provide great closets and room sizes. The backyard offers full cedar fencing and a large concrete patio (great for the warmer weather that we are all anticipating!).
Radon and radon tests are the source of plenty of questions and concerns in the home buying and selling process and most times for good reason. As of January 1, 2008 we've been required to have clients read and sign off on radon disclosures for home sales. This new disclosure was a bit confusing for everyone involved at first but it has become second nature for most Realtors. The only thing lacking was a good (translation: easy to read and understand) resource on what Radon is and what you are recommended to do about it. Enter IEMA (to confuse and sometimes frighten people) and The University of Illinois (too educate and inform).
The Illinois government's official site on radon provides detailed information on what radon is and their advice on how to handle it. NEWSFLASH!.... you will find radon just about everywhere, the concern is how high the level is. IEMA does recommend that you test for radon in a real estate transaction so you are aware of your risks.
The University of Illinois Extension radon website provides their version of this information, (along with helpful and nice pictures). Although you will find Radon everywhere you want your test results to be below 4 pCic/L (picocuries per liter).
Both sites provide info on radon, radon testing and radon mitigation but the UofI site does a better job of explaining. According to the site, the typically cost for radon mitigation is between $800 to $1200 dollars. In my personal experience the cost to mitigate high radon levels in Champaign and Urbana Illinois is near the top end of this range. Hopefully, as radon testing and mitigation becomes more common we will see the price drop as more 'mitigators' enter the field.
Unsure of who to hire to perform your radon test? Check this list of Champaign County home inspectors for a few quality providers.
Questions on whether you should have your home tested or how this could impact the sale or purchase of your home? Drop me a note at Mark@ChampaignExperts.com or visit www.ChampaignExperts.com for more info on the home buying process.
Mark Waldhoff -- ChampaignExperts.com
Keller Williams Realty - The Real Estate Center of Illinois
Welcome to Champaign County’s Real Estate Blog!
This blog will provide you with information, tips, trivia and general insight into the real estate market in Champaign.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
s well worth sharing.
Central A/C
Radon and radon tests are the source of plenty of questions and concerns in the home buying and selling process and most times for good reason. As of January 1, 2008 we've been required to have clients read and sign off on radon disclosures for home sales. This new disclosure was a bit confusing for everyone involved at first but it has become second nature for most Realtors. The only thing lacking was a good (translation: easy to read and understand) resource on what Radon is and what you are recommended to do about it. Enter IEMA (to confuse and sometimes frighten people) and The University of Illinois (too educate and inform).
explaining. According to the site, the typically cost for radon mitigation is between $800 to $1200 dollars. In my personal experience the cost to mitigate high radon levels in Champaign and Urbana Illinois is near the top end of this range. Hopefully, as radon testing and mitigation becomes more common we will see the price drop as more 'mitigators' enter the field.
;)
;)
