Property Tax Estimator

[Bret Habura]

Hey all,

How do you estimate property taxes on Cook County properties? Typically taxes go up when a home is purchased at a higher value so I want to be able to estimate what the new taxes will be. Most likely going to be owner occupant multi (2-4 units).

In some counties I've seen simple calculators on the county website but have not found something similar for Cook County.

Thanks,

Bret

[Francis Rusnak]

Lookup the property on http://www.cookcountypropertyinfo.com/

From there it tells you what the county has the estimated property value on the top-right. 

If you want to take off exemptions the property has you won't qualify for go to https://www.cookcountyassessor.com/address-search and it will tell you the exact exemption values. 

For your situation, just look up similar homes until you find one that has the homestead exemption to estimate. Cook County doesn't have the easy calculator Will or others have afaik. 

Not sure how the county assesses values exactly, but it seems they don't go by loan/refinance amounts, but will account for sale prices -- wasn't there a rumor they used Zestimates at one point and got in trouble for that?

If you think the value will likely be raised by 25% after you buy, I'd multiply the current rate by .25 to get in the ballpark #s.