Suburban Chicago homeowner hit with $30K property tax bill in error

CME 1860x1046 87 1

Homeowner Darryl Lloyd was stunned to receive an errant property assessment of more than $1 million from assessors, causing his bill this year to skyrocket from $1,800 to a whopping $30,000.

At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.

A suburban Chicago homeowner was shocked to receive a $30,000 property tax bill on the modest three-bedroom home he bought nearly two decades ago for $115,000 — a whopping 3,811 percent increase from his last tax bill.

Homeowner Darryl Lloyd was stunned to receive an errant property assessment of $1,004,190 from the Cook County Assessor’s Office, causing his bill this year to skyrocket from just $1,800 last year, he told the New York Post.

“I was literally devastated when I saw that increase,” Lloyd told the Post earlier this week after he received the bill. “I see 960 square feet. I don’t have a second floor. I don’t have a basement.”

According to a Cook County Assessor’s Office official, the stratospheric bill came as a result of a clerical error, which led to an incorrect property assessment. The home, now valued at $180,000, was inaccurately assessed, Christian Belanger, a spokesperson for the Cook County Assessor’s Office, confirmed in an email to Inman. “It should have been assessed at a market value of $97,500,” he said.

A correction to Mr. Lloyd’s tax bill was made within a week of receipt, he added.

The assessor’s office noted that approximately 4,000 properties were incorrectly assessed this year, but certificates of error were processed in time for those homeowners to receive correct tax bills at the beginning of July.

A Cook County Treasurer 2023 bill analysis states that property taxes have seen consistent increases year-over-year during the past 30 years. Property owners across the county were required to pay $706 million more in property taxes last year, which totals more than $18.3 billion. This is a 4 percent increase over the previous year.

Property owners have one month after tax bills are issued to make payment. The Cook County Assessor’s Office encourages people to check their property tax bills for exemptions, and if they are missing exemptions, file a certificate of error.

The office is holding a number of upcoming events where property owners can learn more about exemptions and appeals, beginning July 9.

Email Richelle Hammiel

Source link

About The Author

Scroll to Top