Cook county 2009 assessed valuation for property taxes. My home was valued at 28,273. What does that mean?
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This is a new construction home, and I have no idea how to even estimate a tax bill. I have never encountered anything more confusing than the property tax system. I actually bought the house (probably at a pretty ridiculous discount) for $232,000 including appliances, etc. I just received the proposed assessed valuation of $28,273. I have truly no idea what that means I will have to pay for the 2009 property taxes(due in 2010).
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Answer:
It means that, for tax purposes, you have to pay tax on the home value of $28,273. You are making out big time on the deal.
Ricardo Montalban at Yahoo! Answers Visit the source
Other answers
assessed value is not based on the market value
Call the County Tax Collectors office and ask what the real estate tax rate is, per $1000 of valuation. Then be prepared for a shock when they revalue it closer to the price you paid.
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