Real Estate Taxes

Illinois Disabled Veteran Real Estate Tax Exemption – UPDATE MARCH 2024

While we are a hard money lender, my history in the residential space still has me following the market.  Because I am a disabled veteran, I am in tune with the veteran benefits, especially those in my home state of Illinois.  I feel it is essential that everyone, both veterans and those that value their […]

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Illinois Disabled Veterans Will Need to Wait a Bit Longer on the Updated Real Estate Tax Exemption

The wait has been long on this and despite hopes that the updated version would be signed and approved in 2023.  It has currently passed the Illinois House, but is still not dully signed.  Unfortunately, Illinois disabled veteran homeowners are going to wait a little longer for the legislation to be signed and, based on a

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Illinois Disabled Veterans Real Estate Tax Exemption Update and HB2507 Designed to Fix It

By Douglas Katz – 08/21/2023 The Illinois Disabled Veterans Real Estate Tax Exemption has been a vital support system for veterans and their families, providing financial relief by exempting their property from certain taxes. Recently, proposed changes in House Bill 2507 aimed to remove the cap on this exemption and eliminate the “cliff effect,” which

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The Illinois Disabled Veteran Real Estate Tax Exemption – A Great But Flawed Benefit

By Douglas Katz – 04/26/23 As an Army veteran and a experienced loan officer, I try and keep up to date on the benefits for my veteran and active duty clients.  In my home state of Illinois, the big one is the Disabled Veteran Real Estate Tax Exemption, which can benefit veterans with reduction or

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Beating the Tax Man on Your Real Estate Investments

By A. I. Lendberg, Edited by Douglas Katz – 03/08/23 Are you tired of Uncle Sam taking a big bite out of your real estate investing profits? Fear not, my intrepid investor! Here are some tax tips that will have you laughing all the way to the bank. Keep Accurate Records You may think of

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AVOID HOST GOTCHAS – Common Regulations and Laws Facing Short-Term Rental Hosts

  By Douglas Katz –  02/27/23 To say that the short-term rental market has boomed in the last few years would be a gross understatement.  What used to be buying a home or using an existing property for extra income has become a challenging environment with greater competition, more challenging economics and rapidly changing and

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Key Considerations for Investment Properties and Divorce

By Douglas Katz – 02/13/23 So you are in the midst of a divorce and you own one or more rental properties in addition to your primary home.  To most people a house is a house is a house and the disposition of the additional real estate is the same as the primary home, but

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The Homestead Exemption for Veterans with Disabilities – What You Need To Know.

By Douglas Katz – 06/27/2022 Veterans in Illinois can save up to 100% of their real estate taxes. Savings depend on their disability rating and the county. Caps and different policies can drastically change the benefit for different situations. Some veterans either lose it soon after getting it or do not even get it as

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