Talking Taxes: The Tale of Four Homes on the Market

The math on the tax bill for a two-bedroom townhome near Yorkville Middle School is a little depressing: The assessor says the fair cash value is $140,000; the home is listed for sale for $90,000.

The real estate taxes for 1104 Hawk Hollow Drive are $5,250, up $210 from last year. That bill is $3,765 in traditional taxes and $1,484 in a special service area collection.

On the day of the and the week before the first installment of property taxes are due, Yorkville Patch skimmed four tax bills for properties currently for sale. Three had assessed values above the asking price; one had an assessed value well below the asking price. Only one saw a reduction in the tax bill compared to last year’s bill.

711 Clover Court
Listing Price: $210,900
Fair Cash Value Listed on Tax Bill: $230,709

According to the listing on AOL Real Estate, the single family home has some attractive features: 4 bedrooms, 3 bathrooms, 2,150 square feet, a cozy location on a cul-de-sac.

It's been on the market for 201 days; the property last was sold about 10 years ago for $192,500, according to AOL Real Estate.

The taxes have been climbing since the bill was $5,722 in 2006 but saw a slight reduction of $71.34 this year. This year, the city's portion of the tax bill dropped $199.10, because the city lowered its property taxes this year after voters approved a sales tax increase to cover old infrastructure bond payments.

The school's portion increased $103 from $4,086 to $4,190. That's about 64 percent of the total $6,545 bill.

1104 Hawk Hollow Drive
Listing Price: $90,000
Fair Cash Value Listed on Tax Bill: $140, 375

The two-bedroom townhome - once a builder's model home - has only been on the market for 11 days, according to AOL Real Estate. The listing price is about two-thirds of the cash value the assessor listed but not much lower than the $150,00 the home sold for in December 2007.

This year, the tax bill increased $210.50 to $5,250.23. That's up from $4,730 in 2008, according to AOL Real Estate.

Almost $1,500 of this year's bill is going toward a special service area, which typically covers infrastructure improvements within a set area. The city's portion of the bill went down $90, while the school district's portion went up $200, from $2,210 to $2,410.

2376 Lavendar Way
Listing Price: $200,000
Fair Cash Value Listed on Tax Bill: $247,755

This four-bedroom, three-bathroom single-family home in Autumn Creek has been on the market for 7 days, according to AOL Real Estate.

This year, the tax bill increased $427 to $9,044, although $1,924 of that is going to a special service area. Meanwhile, the city's portion of the bill decreased $161, while the school district's increased $424.67. At $4,526, the school district's portion is half of the total bill.

482 Omaha Drive
Listing Price: $429,000
Fair Cash Value Listed on Tax Bill: $307,617

This four-bedroom, three-bathroom custom home in the Heartland Circle subdivision features granite countertops, a custom patio, and the "largest walk-in closet you could ever want," according to the AOL Real Estate listing.

It also features a tax bill of $8,974. It's been on the market for 63 days, according to AOL Real Estate.

The city's portion of the bill decreased $258.05, while the school district's portion went up $217. Overall, the $5,705 slated for the school district is 63.5 percent of the bill.

Editor's note: for an article discussing assessed values and tax bills for a variety of elected officials. for information on the Kendall County Property Tax Revolt.