One of the factors that determines the amount of property taxes an individual must pay is the assessed value of their property. The Cook County Assessor determines this assessed value, which is then subject to review by the Cook County Board of Review. If you believe that the assessed value of your property is incorrect, you have the right to appeal the assessment. The deadline to do so in Rogers Park Township is Tuesday, August 30.
On Wednesday, August 24, a special workshop will be presented by Alderman Joe Moore's office (49th Ward) to teach property owners how to appeal their property tax assessments and possibly how to lower their tax bill. Attendees will learn how the assessment process works, how to file a Board of Review appeal and how an appeal is then granted. If you plan to attend, please bring your property tax bill.
The Workshop will take place on Wednesday, August 24 at 6:30 pm at the Loyola Park Fieldhouse, 1230 W. Greenleaf (2nd floor).
The US Senate passed the Housing Opportunity Through Modernization Act, unanimously. Now, all that is needed is President Obama’s signature. This legislation includes reform to the current Federal Housing Administration restrictions on condominium financing.
The changes included in this legislation will make the FHA's re-certification process much easier. Additionally, it will lower the FHA’s current owner-occupancy requirement to 35% from its original 50%. Finally, the bill will require the FHA to implement a less-restrictive policy on transfer fees, which is already in place at the Federal Housing Finance Agency.
For more information on the Housing Opportunity Though Modernization Act, click here.
Recently, the Chicago Recycling Ordinance was passed, but what does this mean for condominium associations?
This ordinance requires that building owners and condo associations must:
If your association is not currently providing recycling carts for owners and tenants, you will need to add the services or face hefty fines. Now is a good time to review your waste removal contract for potential savings on your entire waste removal bill - this is an expense that varies widely by provider and can often be lowered if you switch to another waste removal company or re-negotiate your existing contract. You will need to read the fine print, however. Contracts often run several years and auto-renew without warning, so you'll have to notify your existing company within the proper time frame in order to make a switch.
Managing communication in your condo association isn't always easy, but promoting open communication is a great way to build a sense of community among your neighbors. Keeping your documents and other information well-organized and ensuring that all owners have access at their convenience can instill trust in the board and make transitions to new board members a breeze.
Here at ChicagoCondoResource we are always looking for ways to make condo living easy - and to find low-cost solutions for self-managing buildings. If you’re living in a self-managed condo association, taking the step to manage your association online could be the best thing you ever do for your association. CCR Sponsor Condo Ally provides FREE websites built specifically for condo associations, with a focus on small (25 units or fewer), self-managed associations. Sign-up only takes about a minute so there’s nothing to lose with getting started.
With Condo Ally you can:
This free service is completely secure and private. No one can log in to your association’s Condo Ally site unless they’re specifically added by a board member. And all of your transferred data is encrypted using the same technology banks use on their websites.
Share documents, take the weight off the board’s shoulders, increase transparency, save time and energy, and enjoy living in your association more! Build a stronger condo association today with Condo Ally.
Visit Condoally.com to get started on your FREE website.