Schaumburg Cook County Taxes Got You Down? Join the club!

Real Estate Agent with RE/MAX Suburban

Let's have a talk about taxes in Schaumburg & Cook County.

Here in the Schaumburg Area we are in a tax reassessment year. Just recently the 2nd schaumburg property taxesinstallment of taxes have come out & half the state of Illinois is ready to move out & move along to a more tax friendly state.

45,000 people in Illinois moved in 2018 because they can't put up with the taxes or the high cost of living.

There are SO MANY people, articles, new quotes, blogs, short videos with people giving their take on what is going on. I'm not saying that I know more than they do but by just reading their terminology & examples - they don't know what the hell they are talking about. They do not understand the process. I'm not saying that I am the tax accessor but what I do know is values over the years & am ROCK SOLID with my information.

Ever think that some of these tax articles are winging it? Well, yep, they are. Just by the info they quote or don't quote tells me they either know or don't know what they are talking about.

Problem is I am an accurate person & I feel that I owe that to my clients. The tax assessing process in Cook County is hardly accurate or true to value.

Hence ... the problems.

I wanted to do a study on one of my sellers in Schaumburg that will remain totally anonymous. I've done previous posts in the past on how the 'same model properties' can be assessed at different rates. The person that pays attention pays less taxes. The confused person pays more.

That's not fair. But who said life would be.

schaumburg property taxesBack again, let's talk about that house in Schaumburg. The assessor says that they have adjusted the property's value from the recession (2008 or so) to reflect it's value THEN.  Boy, a couple of clicks with my little mouse says 'LIAR'.  But, let's continue here with the example.

My subject Schaumburg property had the assessed value in 2008 of $42,500 with taxes of $4894.
In 2012 the assesed value became $33,584 with taxes of $7740.  HELLO, did you see that. The homes value did not increase 7 years ago but even with the DECREASE, the taxes increased a whopping $2846. for a recession or pre-recovery year.  

In 2017 the assessed value became $32,000 with taxes of $7681.

That certainly does not validate the Cook County Asessor's PR diatribe that says the taxes were lowered to reflect the lower home values. Well, yes and no. The assessed value went down but the actual tax rate increased a big bunch. But does the normal homeowner know this? I'm going to say NO without some help. But, there's just too many people that need help because the system is made to be complicated & against the homeowner.

Supposedly after Berrios (old Assessor) was investigated the tax system was directed to be simplified. Doesn't seem that way to me & again - the poor homeowner has to pay. Let's fudge some numbers here & move some numbers there & no ones taxes go down no matter what the value of the home.

Just go back through those 3 examples above to see something's really fishy.  Assessed value high = taxes low.  Assessed value low = taxes high. 

All those numbers have been manipulated to get a predetermined result.

A few years ago I did a similar post to show just how skewed this whole system is. I recommend that you protest your taxes. You will have to provide information to formulate your protest in order to get a reduction. PLEASE DO NOT CALL ME. (I can tell you about a homeowner who used to call me & demand that I file paperwork for him on his behalf. He must have been a CEO in his past life as I do not do tax appeals).

What I do want to do here is give you information where you can save yourself some money if you choose to do so.

Is it going to be easy? Probably not. Will it get done for free? Probably not. People have to get paid for their work & their intellect in a very complex anti-consumer arena.

Recently on Channel 2 CBS Chicago they have mentioned a company that I think is very reasonable to give you some help. I have not used it but it seems easy enough to help the average homeowner give it a try to save some money.




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lyn sims remax suburban  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324

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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Good morning, Lyn - this is a terrific local post for those living in and especially those considering a move to Schaumburg.  Property taxes are certainly an issue that can vary based on area.

Jul 24, 2019 06:05 AM #1
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Lyn Sims

Schaumburg IL Real Estate
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