Home Buying in Wauconda>Question Details

Cathy, Home Buyer in Chicago, IL

Advise for building in Liberty Lakes?

Asked by Cathy, Chicago, IL Wed Jul 30, 2008

We are getting ready to build a house in the Liberty Lakes subdivision in Wauconda. How can we determine (an approximate) of what our taxes will be? Are they a certain % of the price?

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Answers

4
Hi Cathy, welcome to the nighborhood, live just down the street. I've always "ballparked" my taxes for next year at 2.5%. The trick is gauging what your home will be worth and saving the tax post cards you get form the county. Watch those SSA's that Al spoke about. Many future buyers will want to stay away from those, so consider future resale.

Take Care,
john
0 votes Thank Flag Link Wed Jul 30, 2008
I have sold new construction in Liberty Lakes. What I did to help the buyer determine the real estate taxes was this. I went into the Lake County Assessor website at http://www.co.lake.il.us and specifically searched under property assessments specific addresses that were the same model as the one the buyer was purchasing. Since taxes are assessed one year in arrears in Illinois, you have to find properties that are close to two years old to get a fully improved tax bill. Also it's very important to remember that there is an SSA (special service area assessment) in Liberty Lakes that is included in the total tax bill. I hope this helps to answer some of your questions.
Al Aronow
RE/MAX Suburban
0 votes Thank Flag Link Wed Jul 30, 2008
Cathy

I would contact the tax assessors office for Lake county and ask them how they determine your property taxes. I would think that the square footage of the home, age, lot size and house price all play in the formula in determining your taxes. You can go on to the web-site:

http://www.co.lake.il.us/treasurer/taxinfo/realestatetaxes.asp

Good luck.

Lucy Perna
Coldwell Banker - Arlington Heights
0 votes Thank Flag Link Wed Jul 30, 2008
They run approximately 2 to 2.5% of value. You can call the Wauconda Township Assessor and find out last years tax rate to be more specific but next year's rate may change a bit, usually not too much unless a referendum has been passed.
0 votes Thank Flag Link Wed Jul 30, 2008
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