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  2. ‘I pay my bills’: Chicago woman loses home despite paying ...

    www.aol.com/finance/pay-bills-chicago-woman...

    In Cook County, which includes Chicago and its suburbs, property taxes are due twice a year. Taxes not paid by the first due date in March are considered "delinquent," and interest begins to accrue.

  3. Tax increment financing - Wikipedia

    en.wikipedia.org/wiki/Tax_increment_financing

    According to an article published in the Journal of Property Tax Assessment & Administration in 2009, the increase in the use of TIF in Chicago resulted in a "substantial portion of Chicago's property tax base and the land area" being subsumed by these levy zones—"26 percent of the city's land area and almost a quarter of the total value of ...

  4. Chicago homeowner stunned after getting a notice that his ...

    www.aol.com/finance/chicago-homeowner-stunned...

    Chicago homeowner stunned after getting a notice that his property taxes skyrocketed from $1,800 to over $30K ... Darryl Lloyd wasn’t prepared to receive a property tax bill of more than $30,000 ...

  5. Tax-allocation district - Wikipedia

    en.wikipedia.org/wiki/Tax-allocation_district

    A tax-allocation district (TAD), also known as tax increment financing, is a defined area where real estate property tax monies gathered above a certain threshold for a certain period of time (typically 25 years) to be used for a specified improvement.

  6. Real estate transfer tax - Wikipedia

    en.wikipedia.org/wiki/Real_estate_transfer_tax

    Real estate transfer taxes have become controversial in some U.S. jurisdictions seeking to increase transfer taxes on higher end property sales to help combat issues like homelessness. 2022's Chicago's Bring Chicago Home initiative, seeks to increase transfer taxes on $1 million transactions by 253% or t o 2.65% or $26,500 per million dollar of ...

  7. Where Real Estate Taxes Are Highest – 2023 Study - AOL

    www.aol.com/finance/where-real-estate-taxes...

    The post Where Real Estate Taxes Are Highest – 2023 Study appeared first on SmartReads by SmartAsset. Whether an individual or family is just starting out as a first-time homebuyer, or retirees ...

  8. Backers of Chicago real estate transfer tax hike aim to take ...

    www.aol.com/finance/backers-chicago-real-estate...

    City Council allies of Mayor Brandon Johnson announced their intentions to get a real estate transfer tax hike that would fund homelessness services on the 2024 primary ballot, seeking to advance ...

  9. Property tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Property_tax_in_the_United...

    This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio, multiplied by a tax rate, and is generally an obligation of the owner of the property. Values are determined by local officials, and may be disputed by property owners.

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