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Craig Smyser CRS, e-PRO, GRI Broker Associate 630-778-7500 (direct) 800-440-4714 (toll free) 630-729-3109 (fax)
© 1999-2008 Craig Smyser
RE/MAX of Naperville 1200 Iroquois Ave Naperville, IL 60563 630-420-1220
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Property taxes vary quite a bit in this area. There are many taxing authorities, most of which have varying boundaries. It is indeed possible that the taxes rates are different for two homes that lie within the same neighborhood. While it is not feasible to provide a breakdown of all the possible tax rates in the area, I can provide you with a broad look of the property taxes in the area. Clearly, not all of these apply to a given home. However, most of the homes in this area will be covered by some of these taxing bodies. When looking at potential homes to purchase, I can determine the property tax rate before submitting an offer. The property tax rates below are applied to the "assessed value" of a home. The assessed value is determined by taking one third of the market value. Therefore, a $300,000 home will have an assessed value of $100,000. The rates below are then applied to the $100,000 to determine the tax. Whether or not the assessment calculations on a particular home are really based on a current market value varies from case to case. Various exemptions are available (the homestead exemption is most common). For those unfamiliar with the area, property taxes are paid in arrears. The most recent tax year is 2007. The tax bills for most counties were mailed in early May 2008. As I get the new tax rate information for the various taxing bodies, I will fill them in.
The rates quoted above were provided by the County Clerks' offices for DuPage, Kane, Kendall, and Will counties. They are deemed reliable, but I do not guarantee them.
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