Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Chicago Real Estate Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
Market Trends & Data
Buying & Selling Real Estate
Out of State Investing
Real Estate News & Current Events
Real Estate Technology
Investor Mindset
General Info
BiggerPockets Exclusive PRO Area
PRO
General Real Estate Investing
BPCON
New Member Introductions
Questions About BiggerPockets & Official Site Announcements
Off Topic
Starting Out
Real Estate Success Stories
Real Estate Horror Stories
Real Estate Strategies
House Hacking
Commercial Real Estate Investing
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
Innovative Strategies
Mobile Home Park Investing
Multi-Family and Apartment Investing
Land & New Construction
Wholesaling
Rehabbing & House Flipping
Short-Term & Vacation Rental Discussions
Tax Liens & Mortgage Notes
Medium-Term Rentals
Buying & Selling Small Businesses
Outdoor Hospitality
Landlording & Rental Properties
General Landlording & Rental Properties
Managing Your Property
Marketing Your Property
Tenant Screening
First-Time Home Buyer
Real Estate Professionals
Mortgage Brokers & Lenders
Contractors
Real Estate Agent
Financial, Tax, & Legal
Creative Real Estate Financing
Personal Finance
Insurance
Private Lending & Conventional Mortgage Advice
Tax, SDIRAs & Cost Segregation
Foreclosures
1031 Exchanges
Goals, Business Plans & Entities
Legal & Legislation
Real Estate Classifieds
Classifieds
Real Estate Events & Meetups
Reviews & Feedback
Ask About A Real Estate Company
Real Estate Deal Analysis & Advice
Guru, Book, & Course Reviews
Syndications & Passive Real Estate Investing
Russell Pitts's profile image
Russell Pitts's profile image
Russell Pitts
  • Rental Property Investor
  • from Kirkland, WA
  • Member since Jul 19, 2016

User Stats

60
Posts
19
Votes
Russell Pitts's profile image
Russell Pitts's profile image
Russell Pitts
  • Rental Property Investor
  • from Kirkland, WA
  • Member since Jul 19, 2016
Russell Pitts
  • Rental Property Investor
  • Kirkland, WA
19
Votes |
60
Posts
Chicago Real Estate Forum

"Homeowner Exemption" for property taxes

Russell Pitts
  • Rental Property Investor
  • Kirkland, WA
Posted

Hi, I am in my due diligence phase of a turnkey property in Hazel Crest, IL.  The property currently has a "Homeowner Exemption" which appears to be some property tax discount for those that make the place their primary residence.  Taxes seem to be $243/month, but I'm assuming that once I buy it as an investor (it won't be my primary residence) that taxes will go up?

Anyone have any clarity on the subject?

Chicago, Illinois
0 Votes
Follow
18 Replies
Jump to Last Reply
Log In or Sign Up to Reply

Most Popular Reply

Brie Schmidt's profile image
Brie Schmidt's profile image
Brie Schmidt

User Stats

6,211
Posts
5,182
Votes
Brie Schmidt's profile image
Brie Schmidt's profile image
Brie Schmidt
Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
5,182
Votes |
6,211
Posts
Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied

@Daniel Benoit and @Russell Pitts - isn't this what cased a fraud investigation in cook county?

https://chicago.cbslocal.com/2017/05/11/2-investigators-company-accused-of-dodging-600k-in-property-taxes/

business profile image
Second City Real Estate
4.8 stars
21 Reviews

Contact us

By clicking send, you affirm you have read and agree to the BiggerPockets Terms, acknowledge the BiggerPockets Privacy Policy, and you agree BiggerPockets and its network of professionals may use automated technology or pre‒recorded messages to deliver marketing calls, texts, or emails to the number or email your provide regarding your real estate needs. You also agree BiggerPockets and its affiliates may use automated technology or pre‒recorded messages to deliver marketing calls, texts, or emails to you regarding offers and other content that may interest you. Consent is not a condition of purchase. Message and data rates may apply. Message frequency varies. You can unsubscribe at any time by replying STOP or clicking the unsubscribe link (where available) in one of our messages.

2 Votes
Log In or Sign Up to Reply
Sort By:

Loading replies...