Dear Mike,
Did the answer from the other Realtor satisfy what you were curious about?
If we were to know the exact address we could potentially give you a bit more insight, but basically the value/assessment of a new construction will go up, and consequently the taxes as well...

Feel free to e-mail me the address you are thinking about... if you like!

Also are you working with a Buyers Agent, i.e. a Realtor who is working with you and exclusively on your behalf in assisting you to find the right property for you in Glenview or elsewhere? If not I would suggest you do connect with a Buyers Agent. It does not cost you any expense, except your loyalty to this one Agent, to show you all properties, provide you with available properties that cover your needs & requirements and price range, accompany all showings, assist you in making your offer and negotiate the terms and final sale price on your behalf and in your very BEST interest. And thereafter your Buyers Agent will be at all events, like inspections etc. etc. and make sure that all goes well, and all parties involved in the contract will do all they need to do in a timely and responsible manner, so that it will lead to a successful closing for you....

If you are currently not committed to a Buyers Agent, I would love to assist you.... No pressure, just great service, detailed information and your one stop real estate resource center with answers to all your questions and concerns.

If you purchase a new property in Glenview, will you have to sell a property in Skokie? If so let me know where and I will forward a pre-market evaluation to you via e-mail, initially without home visit.

As far as your question is concerned does the purchase price affect the property tax, well would it not be nice, if the market changes and property prices decline, taxes on properties will follow. But chances are that this will not be the case, communities / towns do their planning based on incoming tax revenues, and chances that taxes will go down are slim in my view!

Taxes will be assessed based on amenities in the property, type of building (one story, two stories) and
3 car garage, fireplaces etc. etc.)

I hope this all helps you a little, and I would be looking forward to hearing from you if I could be of further assistance.

By the Way I have worked out of Real Estate Offices in Glenview for over 10 years and know Glenview and the surrounding suburbs (including Skokie) extremely well.

Edith Karoline - YourRealtor4Life!
Working always in the very BEST interest of her clients!
EdithSellsHomes@gmail.com
Century 21 SGR

Hi Mike,

Are you talking about the assessed building value going from $42K to $102K? If so, that is probably because it's new construction. The taxes for Cook County are paid in arrears. Meaning we are always one year behind. 2007 taxes are paid in 2008 and 2008 paid in 2009 and so on. So the $42K was probably the old house value. It takes a year or so for the taxes to catch up. The 2008 was probably based on the new contruction. Make sense?

As far as the purchase price affecting the property tax. The new taxes will be based on the purchase price. However, many places have seen prices drop which in theory would make the taxes go down. Don't count on it. The municipalities have made their budgets based on previous tax years and have become accustom to that revenue. It is most likely that the muliplyer used times the tax base is going to be raised to maintain that revenue. Simply put, the price of homes may go down but the taxes will stay the same or go up. Hope that helps.