Do you know about the huge tax benefits of the CAGE? The CAGE is one of the most desired areas in all of the North Shore, and especially Wilmette. Its proximity to the lakefront, as well as downtown Wilmette, make its expansive lawns and grand homes very popular. About 600 homes in the CAGE fall within the Ouilmette Historic Landmark District and this can have a huge impact on the property tax bills for these homes.
Tax Benefits of the CAGE – Wilmette: Ouilmette Historical Landmark District
When purchasing a home within this historic district, if you spend 25% or more of the home’s fair cash value (as determined by the assessor’s office), you can receive a property tax freeze for 8 years, with a graduated step-up for an additional 4. Purchasing an older home in this historic district can really benefit your pocketbook and maintain an important piece of Wilmette history. For details about the tax freeze, click here. If you would like help in finding your dream home in the CAGE or elsewhere in Wilmette, please email or call me at 847-778-0540 – I’d be happy to help!