Property Taxes - Chicago Real Estate Lawyer
When you buy a home, convert a rental property to a condominium, or acquire a piece of investment property, you may encounter unexpected and confusing property tax issues. You may be liable for real estate taxes for the year previous to your purchase. There may be confusion as to how the property taxes were determined for new construction. Jill M. Metz & Associates friendscan help sort out a confusing property tax issue or assist in correcting a problem.
Property taxes are billed in two installments, and follow the property, not the owner. That means even though you did not own the property in the previous year, you are responsible for the taxes. The County Collector will sell your property to pay that tax bill no matter which year is not being paid. So protect yourself - check to make sure the property taxes are paid.
Please keep in mind that this is your property and you need to be proactive about your property tax payments. Jill M. Metz & Associates will help you meet your responsibilities. Jill M. Metz & Associates can assist you in your real estate closing to ensure the property tax issues are clear.
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