7th Circuit case highlights confusion over online home value ‘Zestimates’ – Olivia Covington – Indiana Lawyer.com

Buying a home is an exciting process, but it can also be confusing. Navigating the world of competing offers, title transfers and appraisals can be difficult, especially when buyers and sellers don’t use real estate agents to facilitate the process.

To ease some of that burden, real estate website Zillow offers a tool known as a home value “Zestimate.” Using public data, Zestimates, as the name implies, provide an estimate of how much a home is worth. That amount is listed on a home’s Zillow profile alongside the seller’s asking price, allowing buyers to compare the two.

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Why you’ll likely pay more in property taxes this year – Mary Milz – WTHR.com

INDIANAPOLIS (WTHR) — If you own a home, you’ll soon be getting your property tax bill. Just a head’s up: When you open up your bill you may get hit with a bit of “sticker shock.”

According to the Marion County Treasurer’s Office, 86 percent of homeowners will pay more in property taxes than they did last year. How much more? It depends on several things, including where you live. But bottom line? Deputy Treasurer Joshua Peters said Marion County homeowners are looking at an average increase of roughly eight percent.

“Property values continue to rise as the real estate market continued to do better,” Peters said. That makes for a bigger bill for homeowners.

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U.S. Property Taxes Levied On Single Family Homes In 2016 Total More Than $277 Billion – Attom Data Solutions – PR Newswire

IRVINE, Calif.April 6, 2017 /PRNewswire/ — ATTOM Data Solutions, curator of the nation’s largest fused property database, today released a 2016 property tax analysis for more than 84 million U.S. single family homes, which shows that property taxes levied on single family homes in 2016 totaled $277.7 billion, an average of $3,296 per home and an effective tax rate of 1.15 percent.

The report analyzed property tax data collected from county tax assessor offices nationwide at the state, metro and county level along with estimated market values of single family homes calculated using an automated valuation model (AVM). The effective tax rate was the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.

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Property taxes jump, and jaws drop – Dennis Rodkin – Chicago Real Estate Daily

The property tax bill on Jeff and Roberta Price’s Lincoln Park home was about $400 in 1977, the first year they lived there. It’s been going up ever since, but rarely with the jolt of this year’s 63 percent increase.

The increase, from $8,652 to $14,104, has the couple reconsidering their plan to retire in the Kenmore Avenue home where they raised their kids. They’re looking at homes in Indiana “as a backup plan” for the time when Roberta retires in a few years, said Jeff Price, who is already retired.

Read More…http://www.chicagobusiness.com/realestate/20160728/CRED0701/160729844/property-taxes-jump-and-jaws-drop

Real estate groups oppose South Bend landlord registry – South Bend Tribune – Erin Blasko

A proposal requiring that landlords register their properties with the city on an annual basis is coming under fire from local real estate groups ahead of a planned vote on the measure scheduled for [Monday] tonight.

In a recent letter to the Common Council, the South Bend-Mishawaka Association of Realtors outlined five concerns about the proposal, which supporters say is necessary to hold landlords more accountable for the upkeep of their properties.

Among other things, the group believes the fines are too high and that much of the information required by the proposal is “irrelevant” to the task of identifying property owners and also available elsewhere in public records.

Read More…http://www.southbendtribune.com/news/local/real-estate-groups-oppose-south-bend-landlord-registry/article_8a0198e8-15d7-11e6-a370-f77614bbfad0.html