Subject: Re: Property Tax Assessments
From: Michael E. Rutkowski (michaelrut@firstpropertiesLLC.com)
Date: Mon Oct 02 2000 - 18:06:15 CDT
The issue was addressed at last week's board meeting. As soon as I receive
the minutes they will be posted.
Because individual units were not identified on the proposed assessed
valuation cards delivered to Rezmar, you'll have to go to the Collector's
office to find out your assessed valuation.
----------------------------------
Michael E. Rutkowski
(773) 935-5617
First Properties, LLC
Real Estate Management
----- Original Message -----
From: "Belinda Leeney" <leenbel@hotmail.com>
To: <michaelrut@firstpropertiesLLC.com>; <discuss@vanguardlofts.com>
Sent: Monday, October 02, 2000 1:01 PM
Subject: Re: Property Tax Assessments
> Michael -
>
> Did the board meet on this topic? Were there any decisions made? Also,
> what was the assessed amount for the taxes so we will know what to expect
> for our Year 2000 taxes?
>
> If you could let us know any more information you have on this topic, it
> would be greatly appreciated.
>
> Thanks,
> Belinda Leeney
>
>
> >From: "Michael E. Rutkowski" <michaelrut@firstpropertiesLLC.com>
> >To: <discuss@vanguardlofts.com>
> >Subject: Property Tax Assessments
> >Date: Tue, 26 Sep 2000 19:07:43 -0500
> >
> >Last week, I received the new Proposed Assessed Valuation cards that the
> >County sent to Rezmar. For the first time, 1250 W. Van Buren is not
being
> >assessed as one building, but as 99 individual units.
> >
> >There should be no need to worry about the 1999 tax bill due next week.
If
> >everyone signed the same Rezmar sales contract, it states Rezmar pays all
> >of the 1999 taxes. However, this assessed valuation will serve as the
> >basis for calculating your tax bill for the next 3 years.
> >
> >As managing agent, I always encourage that associations appeal their
> >assessment as being too high. In fact, I coordinate the effort as part
of
> >my management agreement.
> >
> >Just receiving the cards last week, however, did not give me much time to
> >inform the owners about an appeal...appeals were due 9/25. FORTUNATELY,
I
> >was able to have a property tax attorney file the preliminary paper work
at
> >no charge to give the Board an extra 10 days to decide if they want this
> >appeal.
> >
> >Here is the breakdown: A contracted law firm will charge a
non-refundable
> >$25 retainer per unit (everyone will have to pay it) and process the
> >appeal. Should they be successful, their fee is 1/3 of the first years
> >savings for each owner, minus the $25 already paid. As an owner, you'll
> >reap the benefit of the appeal for 3 years, until the township is
> >reassessed.
> >If they fail, there is no additional charge. I will provide more
> >information for the Board at tomorrow night's meeting.
> >----------------------------------
> >Michael E. Rutkowski
> >(773) 935-5617
> >
> >First Properties, LLC
> >Real Estate Management
> >
>
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