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Updated over 7 years ago on . Most recent reply

User Stats

75
Posts
24
Votes
Eugene Rogachevsky
  • Investor
  • Long Beach, CA
24
Votes |
75
Posts

How Do I Appeal $14,000 Property Taxes?

Eugene Rogachevsky
  • Investor
  • Long Beach, CA
Posted

I'm in California and I just closed on a couple of properties in the Chicago area and the taxes are incredibly high.  I knew this going in but both were good deals regardless. The triplex is currently (or in arrears) taxed close to 14,000k per year (155k property value). I was told that it is possible to appeal this amount. Has anyone had experience with this? What's the process? How successful is it? How long does it take? Who would be the one to petition (me as property owner or the turnkey provider that's managing property)? 

I'm still cash flowing close to $750 per month on it but even a tax reduction of $1000-1500 per year would be tremendous. 

Thank you in advance!

Eugene

Most Popular Reply

User Stats

89
Posts
66
Votes
Chris Titcomb
  • Real Estate Attorney
  • Chicago, IL
66
Votes |
89
Posts
Chris Titcomb
  • Real Estate Attorney
  • Chicago, IL
Replied

Eugene Rogachevsky , PM me and I can help with all of this. I've done hundreds of tax appeals in Chicago!

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