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Property tax, il?

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Is the finished basement -space subjected to property tax?

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  1. NO!!  You have just finsihed the house on your property that you already pay taxes on.  If you add to the outside...then your taxes will need to be adjusted.


  2. Yes.

  3. Your property tax is based on the assessed value of the house.  The assessed value might increase due to a finished basement, or any other improvement.
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