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Chicago’s financial forecast is clouded by a $982.4 million budget deficit, and Mayor Brandon Johnson's proposed $300 million property tax hike has stirred up a storm of discontent with council ...
Home prices rose substantially during the pandemic-fueled housing boom. By one estimate, the national average house price has risen almost 50% since the start of the pandemic. Not to mention, home ...
This is unfortunate for one of the two parties. It is the obligation of a real property appraiser to estimate the true market value of a property and not its market price. Frequently, properties are assessed at a value below their market values; this is known as fractional assessment. [5]
Darryl Lloyd wasn’t prepared to receive a property tax bill of more than $30,000 this year — a whopping 1,567% hike from last year’s bill of $1,800.
Floor area ratio (FAR) is the ratio of a building's total floor area (gross floor area) to the size of the piece of land upon which it is built. It is often used as one of the regulations in city planning along with the building-to-land ratio. [ 1 ]
In Chicago, a typical city block is 330 by 660 feet (100 m × 200 m), [2] meaning that 16 east-west blocks or 8 north-south blocks measure one mile, which has been adopted by other US cities. In much of the United States and Canada, the addresses follow a block and lot number system , in which each block of a street is allotted 100 building ...
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