Are there Tax Issues with the Obama/Rezko "Compound"?
Does anyone here have access to any real estate data base that could confirm or not, this comment that I saw posted today at another website?
I will not provide the link in order to protect this person's privacy.
I am a long time employee of the Cook County Assessor and would like to come clean about personal knowledge relating to an inconsistency in Sen. Obama's property taxes.Mr. Barack Obama and his wife purchased a house in Hyde Park during the month of June 2005. The total purchase price was $1,650,000. Title was put into a unnamed land trust. I will not publish a pin or address because of obvious security concerns for the Obama family.
The house was reassessed during summer of 2006. All of the surrounding houses were increased by an average of 28%. The Obama residence increased 6%. What is more troubling is that we always attempt to assess houses at about 68% of actual sale prices. The Obama residence is assessed at 90,882 with a market value of 568,012. That is just about one third of the selling price from 2005. When I questioned this assessment, I was transferred to another project in the office. The Obama assessment was then completed by the same person who did the workup for Governor Blagojevich's house, which also was assessed at a lower percentage of surrounding properties and rose at a fraction of the rate of surrouding properties. According to standards set up within the office, the assessment should have been 179,520 and the tax bill should have been almost double in this one assessment cycle alone.
These types of things occur almost weekly. Such is the way of Cook County and Chicago. They probably happen every day but I don't see it because they have me answering the telephone now.