How do I figure out special tax assessments on a property?

3 Replies

I'm looking at purchasing a property, and I want to find out if there are any *extra* taxes beyond property tax. For example, sometimes you get a big bill to improve roads or schools.

How would I find out if a property has anything like that attached to it?

The property in question is 

16665 Kenwood Ave

South Holland, IL 60473

I already called the county assessor and looked up the property on their website. It was not very helpful.

Thanks!

@Scott Bolinger  

There can be. Aside from property tax, you could have HOA Fees or condo fees, depending on the property. There are also what are known as "special assessments" like what you described (among other things) and you'd call the borough or township office to ask if there are any special assessments in the works for where your potential property is located. If you have a realtor in the area, they might also be able to offer insight.

If you have a realtor that should be your first stop. If not then the assessor's website or office. If that is still not helpful ask the listing agent or owner to provide you with a copy of their current and/ or past property tax bill.

@Scott Bolinger Apart from the great points offered by @Dave Van Horn and @Aaron K. , I would also like to add that certain types of "special assessments" are one off and come as a surprise. No amount of planning can help you avoid these. Some jurisdictions are worse than other. Best to consult with your local agent and investors to get the inside scoop.