Property tax bills were recently mailed, which means property reassessments will occur soon. Cook, Lake and McHenry Counties typically give homeowners 30 days to appeal, and release exact deadlines once the assessments are mailed. These appeal deadlines are strictly enforced in Illinois, so proactively planning a strong appeal provides the best opportunity to obtain a reduction in a property’s assessment. The appeal process often includes just three steps:
- Determine the reason for your appeal — You may appeal if the property characteristics on your assessment notice are not accurate or if the estimated fair market value is more than what you believe you could sell the property for in the current real estate market.
- Collect evidence — You can show that an assessment is too high by providing recent sale prices of comparable properties, along with an independent appraisal.
- Make the appeal —To make a formal appeal, an assessment complaint and supporting documentary evidence must be filed with the county assessor’s review board.
Buckley Fine has partnered with experienced real estate tax appeal attorneys to help you in preparing strong appeals before this year’s deadline. If you are considering an appeal of a commercial, industrial, office or residential property, feel free to contact our real estate team for a recommendation.