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- Title
Are Property Taxes Capitalized in the Selling Price of Industrial Real Estate?
- Authors
McDonald, John F.; Yurova, Yuliya
- Abstract
This article presents an empirical study of the selling prices of 419 industrial properties near O'Hare Airport in Cook and DuPage Counties in metropolitan Chicago that were sold during 2001-2004. The results show that selling price per square foot is a function of property characteristics and location in Cook County. The property tax rate was higher in Cook County by 2.63% of market value, and comparable properties sold for 16.2% less in Cook County than in adjacent DuPage County.
- Subjects
COOK County (Ill.); INDUSTRIAL property; REAL property; PROPERTY tax; MARKET value
- Publication
Appraisal Journal, 2006, Vol 74, Issue 3, p250
- ISSN
0003-7087
- Publication type
Article