The Taxing Tale of a Schaumburg Home

By
Real Estate Agent with RE/MAX Suburban
https://activerain.com/droplet/5fqq

It seems that lately in Illinois we are having a revolt of sorts against taxes. In Cook County, which includes the City of Chicago, there are more complications that are always mixed with politics called the 'Chicago Machine'. This is the 'tax tale' of a sold listing of mine in Schaumburg.

When the couple first bought the property in 2004 the taxes were $2870 per year. Looking back, that sounds like a great deal. Now the taxes are $5486 per year & will probably increase again for 2018. So in 14 years of ownership the property's taxes have increased $2616 which works out to be 52%.

schaumburg real estate taxes

Between the years of 2015 to 2016 the assessed evaluation of this house went up $48,720 from $170,780. That equated to a 26% increase just that particular year. Now I've been doing this for many years in the Schaumburg Area & rarely would I see a property increase in value $48 GRAND. It just doesn't happen in real life but it does happen in the made up world of the Cook County Assessor.

schaumburg taxesJust a little bit more info behind the scenes here. The Cook County Assessor uses Zillow to help assess your property's value for taxing purposes. Just in case you don't know, Zillow is one of the most inaccurate real estate websites on the internet being off by 20-30% on their 'Zestimates'. By Zillow's own admission, the site (depending on your area) can be off by a wide percentage and only should be 'used as a starting point' to figure out value.

So, the Cook County Assessor takes the made up, fantasy fudged numbers from a real estate site and reassesses the value of your home. This is the part where you should be getting mighty angry!

I hope you are outraged that this nonsense is going on. Currently the Chicago Tribune outed these guys & rightfully so. It's a sham, scam & many other things starting with an 'S'.

 

 

 

Other Tax Related Investigative Reports

ProPublica Reports

 

 

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lyn sims remax suburban  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324
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Rainmaker
3,202,752
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Lyn. They should hire the law firm headed by "Maniacal Mike Madigan" and receive miraculous relief. It is Cook County! Enjoy your day!

Sep 24, 2018 05:32 AM #1
Rainmaker
3,778,638
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Lyn Sims,

Good post to bring this out for the public to read! What a sham and can see why many are red hot over this issue!

Sep 24, 2018 06:05 AM #2
Rainmaker
3,016,128
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Good morning, Lynn... I'm beyond outraged by this insanity and I don't even live in Cook County! What genius thought it was a good idea to use Zillow estimates for home values?

Sep 24, 2018 06:22 AM #3
Rainmaker
4,357,261
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Lynn,

We are equally outraded by Zillow being looked at as the end all be all authority.   Of course government will do anything to pad their coffers.  A

Sep 24, 2018 12:52 PM #4
Rainmaker
433,526
Kristine Ginsberg
Elite Staging and Redesign, LLC - Short Hills, NJ
NJ Home Stager

Not only is Zillow way off on the estimated value of homes, but it's always lower than what the house is worth. My question is who governs Zillow and how do they get away with this?? It truly is an outrage.

Sep 25, 2018 03:29 AM #5
Rainmaker
4,357,261
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Carol Williams I think this is a post that should be on your series of Second Chance Saturdays.  As members of the real estate community we should be outraged, and let people know this is happening.  A

Sep 26, 2018 06:57 AM #6
Ambassador
3,231,413
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Unbelievable, Lyn! Good for you to call them out. K

eep up the fight and keep your clients engaged in it as well. The idiot who made this decision should be outed on every news channel in the Chicago area! 

Sep 26, 2018 07:28 AM #7
Rainmaker
3,978,939
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

It is a fair amount but we have seen increases as much as 20% in one year

Sep 26, 2018 08:29 PM #8
Rainmaker
1,871,052
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Lyn - that is outrageous and I hope the citizens of Cook County and Illinois take it to the ballot box.  

Sep 29, 2018 03:48 AM #9
Rainmaker
3,778,638
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Lyn Sims,

I'm so glad to see Carol Williams posted your post in her Saturday Second Chance series. I read your post and was outraged when you first posted but glad to see it getting more traction. I like Grant Schneider hope the citizens of Cook County and Illinois take it to the ballot box.  

Sep 29, 2018 05:00 AM #10
Rainmaker
3,544,230
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Lyn. So how do you really feel? It does always come back to the ballot.

Sep 29, 2018 05:15 AM #11
Ambassador
1,822,409
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Good Lord, you gotta be kidding? This is crazy. I can't imagine anyone using Zillow or any national portal ( not local) for values. Glad the guy lost in the reelection. D

Sep 29, 2018 07:36 AM #12
Rainmaker
1,416,019
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

I can't believe any town would use zillow estimates to come up with assessed value.

I spoke to a tax assessor one time about the anticipated taxes for new construction, and he was totally on top of his game - why they came up with this particular value, what it's based on, etc. That's the way it should be!

Sep 29, 2018 07:54 AM #13
Rainmaker
576,976
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

How ridiculous and appalling! Cook County should do their own real estate appraisals for taxation purposes. The public outcry on this scandal should be HUGE!

Sep 30, 2018 11:46 AM #14
Ambassador
3,938,450
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Lyn

That's appalling and hopefully something will happen to the Cook County Assessor. Using Z as an assessment of value for tax purposes is outrageous. I hope there is a lot more PR and puitblic outcry on this.

Jeff

Sep 30, 2018 04:29 PM #15
Ambassador
3,059,416
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I can’t afford to not live within my budget; I can’t just raise taxes...

Oct 01, 2018 09:20 PM #16
Rainmaker
1,220,411
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Just one of the many frustrations and mysteries connected with taxes in our wonderful state, Lyn Sims ... and I don't see a remedy taking place anytime soon.  So many great things about living in our state/area, but taxes are definitely not one of them!

Gene

Oct 04, 2018 11:09 AM #17
Ambassador
892,452
Lynn B. Friedman
Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ... - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Lyn Sims 
Yes, really wrong ---  Zillow has turned real estate research upside down - why would a tax department even THINK it could base data on Zillow???
Think of you often -- Lynn

Oct 10, 2018 02:32 PM #18
Rainmaker
1,014,488
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Yikes that is a huge increase in taxes.  I'm the guy you wanted to support on his way to 1,000,000 points.

Nov 11, 2018 04:57 PM #19
Ambassador
3,231,413
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Hi Lyn! Just popping by to say I hope you had a wonderful Thanksgiving today! 

Happy Thanksgiving!

Nov 22, 2018 08:39 PM #20
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