Chicago Relocation
 

Chicago’s Taxman

April 3, 2013

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John D’Ambrogio

As Beatle George Harrison sang on Revolver, there is no escaping the Taxman’s ever vigilant gaze.  Just ask Richard Parrillo whose 2012 property tax was the highest in all of Chicago’s nine counties.  At $246,780 his property taxes were higher than the median home sale price of July 2012.

Parilllo was not alone at the top.  Crain’s compiled Chicago’s top ten most expensive property taxes proving that a beautiful home with a beautiful view comes at a cost.

Most of the top properties reached their title thanks to construction or renovations.  Karen Citow, owner and founder of Reach Yoga, built a new 11,894-square-foot home in Glencoe causing her property taxes to triple between 2010 and 2011.  The new home placed her in with the other top ten.

While most people gawk at such prices the number probably didn’t come as a great surprise to the homeowners or at least should not have been out of the blue.  Baird & Warner’s Katherine Malkin told Crain’s, “None of them have made money because they’re ignorant to what costs are.”

Eight of the ten on the list appealed their taxes due to their astronomical prices.  Only two were successful in lowering the price – the rest were not so lucky.

Some comments from Baird & Warner‘s Elizabeth McGrath

 

 

 

Fun Fact:  John Lennon wanted to be suspended upside down from the ceiling while he was spun around a microphone to sing the track on Tomorrow Never Knows.  George Martin quickly showed him that the same effect could be created without the acrobatics.