Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Donnie N.

Donnie N. has started 22 posts and replied 117 times.

Post: Cook County, IL - Drastic Increase in property taxes

Donnie N.Posted
  • West Hollywood, CA
  • Posts 118
  • Votes 42

Anyone else experiencing the insane jump in taxes this year? I just looked at the 2nd installment and the jump in wild! One property in Richton Park jumped by over $1,800.  Any advice on what can be done to lower this a bit?

Quote from @Lateefah Mathews:

@Donnie N. Hey I unfortunately do not know of any local appraisers in the MD area, Try searching here on BP if you don't strike gold just run a quick Google search. Good Luck! 


 

Thanks!

@Lateefah Mathews - thank for the quick reply!

1) Yes, I have the assessment records. However, the tax person says we can't use that as the base to adjust the cost bases. It needs to be based on "fair market sales value". 
2) Would you know of a local appraiser in the Maryland area?

Thanks again!

Post: historic market value website

Donnie N.Posted
  • West Hollywood, CA
  • Posts 118
  • Votes 42

@Mike S. - Did you have any luck on finding a website? I'm trying to do the same. Zillow shows ~10yrs. I need it for something back in 2010. Thanks in advance for any suggestions. 

Any suggestion on the best way to look up historical comp value of a home?

Background…

1) fahter-in-law sold a home recently. Need to pay the capital gains tax.

2) Trying to look up the historical value of the home as the deed was transferred when wife passed back in 2010. Basically, looking to see what the adjusted cost basis should be for this property.

Any recommendations? This property is in Montgomery County / Silver Springs area.

Post: Question on vacancy exemption

Donnie N.Posted
  • West Hollywood, CA
  • Posts 118
  • Votes 42
Quote from @John Warren:

@Donnie N. who is your tax attorney? This is one of those cases where its all about the perception and how it is presented. I have an excellent tax attorney if you need someone. It is worth running by a professional I think as the savings can be pretty solid here. 

 Thanks @John Warren. Would you mind sending over the info? I have one that's doing the appeals. Maybe I'll check with him as well. Always good to have multiple sources. Thanks!

Post: Question on vacancy exemption

Donnie N.Posted
  • West Hollywood, CA
  • Posts 118
  • Votes 42
Quote from @Chris Seveney:
Quote from @Donnie N.:

Seeing if anyone has had experience with this. 1 of my property has been vacant for 6+ months due to rehab/getting inspections/etc. Can I file for an exemption for vacancy for the property tax? I read on the accessor website that it has to be due to natural causes (fire, flood, etc.) Are there other ways or is it really only due to natural causes? just triple checking with the folks here who might have had expense doing this. Thanks. 


If its because you are upgrading the property etc. the jurisdiction will not allow for an exemption, they want their money. Only if it was destroyed due to fire, natural causes etc. will they allow for it. Sorry. 


 Thanks!

Post: Question on vacancy exemption

Donnie N.Posted
  • West Hollywood, CA
  • Posts 118
  • Votes 42

Seeing if anyone has had experience with this. 1 of my property has been vacant for 6+ months due to rehab/getting inspections/etc. Can I file for an exemption for vacancy for the property tax? I read on the accessor website that it has to be due to natural causes (fire, flood, etc.) Are there other ways or is it really only due to natural causes? just triple checking with the folks here who might have had expense doing this. Thanks. 

Post: Cook County property tax appeal - looking for recommendations

Donnie N.Posted
  • West Hollywood, CA
  • Posts 118
  • Votes 42

I 'm using Tim Jacobs at KSN Law.  His guys are pretty straight forward.KSN Law


I'll DM you the email contact

I know they had a delay last year. When is the expected timing this year? Anyone know? I couldn't find anything online that can provide an estimate for this year.