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Russell Pitts
  • Rental Property Investor
  • Kirkland, WA
19
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60
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"Homeowner Exemption" for property taxes

Russell Pitts
  • Rental Property Investor
  • Kirkland, WA
Posted

Hi, I am in my due diligence phase of a turnkey property in Hazel Crest, IL.  The property currently has a "Homeowner Exemption" which appears to be some property tax discount for those that make the place their primary residence.  Taxes seem to be $243/month, but I'm assuming that once I buy it as an investor (it won't be my primary residence) that taxes will go up?

Anyone have any clarity on the subject?

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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
5,182
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied

@Daniel Benoit and @Russell Pitts - isn't this what cased a fraud investigation in cook county?

https://chicago.cbslocal.com/2017/05/11/2-investigators-company-accused-of-dodging-600k-in-property-taxes/

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Second City Real Estate
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