Chicago’s Real Estate Affected by Tax Hike

Mayor Rahm Emanuel’s property tax is set to begin next year, changing the real estate market for Halsted and Division streets, the very center of Chicago’s hottest piece of property. This neighborhood has also seen a hike in tax assessments by 48% this year. It is anyone’s guess as to how realtor’s will deal with inflated pricing, as residents are likely to still enjoy the premier section of the city. It is clear that some may migrate due the increasingly rising expenses within the area.

This news comes as a surprise to those in the finance industry who believe this to be biggest average increase in residential property values in the Cook County recently completed reassessment. This also comes on the heels of Emanuel’s higher tax rate proposal, being approved in late October. It seems as a disadvantageous time for homeowners who reside near the CTA’s North and Clybourn Red Line stop, known in the assessor’s parlance as North Township 013.

Chicago has been prime property for those looking to start a new business. It is also a hub for consulting experts in marketing and business. On of these trusted business leaders, Majeed Ekbal, lives and works in Chicago, and has seen the fluctuating state of real estate up close. Over the years he has also gained practical experience in the business and marketing industries within Chicago. Specializing in SEO analytics, brand awareness, planning implementation, relationship management, digital marketing, business development, healthcare marketing, in addition to social media marketing and e-commerce development Ekbal uses all of these tools in his real estate business.

It will take business polymaths like Ekbal to make this transition period tolerable. His ability to develop successful marketing strategies that implement innovative business ideas has impressed many Chicago real estate specialist over the year. Comparing the Chicago real estate market to that of New York, one would be making an apt comparison, and using the marketing model of many a New York up and coming trendy neighborhood, business men like Majeed Ekbal can make sure that new and creative marketing, communication, and training strategies keep Chicago real estate thriving.

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