* Not notifying the assessor’s office about building a new house might be excused because somebody forgot to file some paperwork or whatever. But filing a property tax appeal on taxes owed for a long-demolished house is another story…
For nearly a decade, Chicago Cubs co-owner Todd Ricketts has lived in a 5,000-square-foot North Shore house nestled on a meticulously landscaped lot complete with a Japanese-style garden.
It’s a showcase Wilmette home a short walk from Lake Michigan. But it’s not the home that Ricketts, who also is finance chairman of the Republican National Committee, has been paying taxes on.
Instead, records show, Ricketts pays property taxes based on the value of the much older and smaller house that he tore down to make way for the new one, providing him with a huge discount likely totaling tens of thousands of dollars over the years.
State law required Ricketts to notify the assessor that he had built a new home in 2010, but a spokesman for the assessor’s office said there’s no record that Ricketts ever did.
In 2013, Ricketts’ attorney had a chance to tell Cook County tax officials about the new home during a property tax appeal but instead sought a reduction based on the age and size of the old house, according to documents the Tribune obtained through an open-records request. The paperwork included a photo of the century-old home that had been demolished.
An investigation has been launched. Go read the whole thing. It’s pretty hilarious. Ricketts’ spouse wrote a letter to Wilmette school board officials complaining about high property taxes, even though the taxes they were paying were on a house they’d demolished years before.
* Meanwhile, Madigan & Getzendanner is everywhere…
The City of Sandwich and Sandwich School District #430 stand to lose thousands of dollars of tax money if a property tax appeal by Illinois Speaker of the House Mike Madigan’s law firm is successful.
Madigan’s Chicago law firm represents Hall St. Lofts, LP, and the appeal was discussed at Monday’s regular meeting of the Sandwich City Council.
Madigan’s firm wants the DeKalb Co. Bd. of Review’s assessment reduced $294,788, from $581,425 to $296,637, which would reduce the Hall St. Lofts’ property tax bill by approximately $28,000.
Sandwich is in DeKalb, Kendall, and LaSalle counties.