Newly elected Cook County Assessor Pat Hynes joins us to share his plan for bringing fair, accurate, and predictable property assessments!
Pat starts by discussing the flaws in the current property assessment system and his plan to improve and simplify the system! He shares an emotive story on why he decided to take on the county assessor role. Pat gets granular on common mistakes made on tax appeals and the methodology behind accurate valuations. He closes with insights on the Chicago Bears Stadium site selection and an extremely bullish outlook on Chicago!
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02:07 Housing Provider Tip - Review property characteristics on tax assessor’s website to catch inaccurate info!
02:56 Intro to our guest, Pat Hynes!
11:06 Bringing transparency to property taxation.
17:02 An idealized property valuation approach.
21:47 Pat’s motivation to take on the Cook County Assessor role.
27:08 Common mistakes made on property tax appeals.
29:19 The process for valuing condominium buildings.
30:40 Simplifying the appeal process!
39:04 Property tax incentives for providing affordable housing.
43:48 Pat’s criteria for a successful term as Cook County Assessor!
45:15 Tax implications for the Chicago Bears Stadium site selection!
50:06 Data Center Taxation.
51:49 What is your competitive advantage?
52:04 One piece of advice for new investors.
52:32 What do you do for fun?
53:09 Good book, podcast, or self development activity that you would recommend?
53:26 Local Network Recommendation?
54:34 How can the listeners learn more about you and provide value to you?
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Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest Name: Pat Hynes
Guest Company: Cook County
Guest Link: https://www.assessorhynes.com/
Other Links for show notes:
Pay Hynes - Lyons Township Page
The Devil in the White City (Book Recommendation)
