Appealing Your Property Tax Bill

If you are a homeowner in Cook County, you’ve probably noticed a significant increase in your property taxes. What you may not have realized is that you can potentially reduce your tax burden by filing a property tax appeal. However, the window to appeal is limited, as Cook County only accepts appeals during a short period of time. CLICK HERE to find your township’s appeal schedule.

If you’re wondering how your property taxes are determined, you’re not alone. Navigating property tax calculations can be a difficult subject. Below I’ll break down how Cook County assesses your property’s value, how your taxing district affects your property taxes, and finally, how an attorney can help you challenge your property tax bill and lower your tax burden.

The reason homeowners saw such a dramatic increase in their property tax bill this year is because 2018 was a ‘reassessment year.’ Every three years Cook County reevaluates property values to reflect the current market data. The new value Cook County assigns to your property is the basis for how your taxes are calculated.

The assessor uses several steps to determine the amount of taxes owed by each property in every township. First, the assessment value of the property is based on real estate market activity in that neighborhood for similar properties. Next, the assessor applies any available exemptions or deductions to the tax bill. Common exemptions include the Homeowner’s Exemption, Senior Exemption, and Senior Freeze. Finally, the total tax owed is determined by the property’s location.

Each property is subject to several taxing districts. Every year taxing districts set a budget and determine the amount of property tax revenue they need for the year. The County Clerk then divides the cost of each taxing district among the property owners in the area. Each property owner then pays their proportionate share according to the property’s assessed value.

There are several arguments you can make when you appeal your property tax bill. You may argue that your property has been unfairly assessed based on comparable sales, lack of uniformity, or economic value. The economic value argument applies only to income producing properties and requires three years of income and expense information. An attorney can help you decide which argument is best for your property.

Property owners can challenge their tax bills in three forums: the Assessor’s office, the Cook County Board of Review, and the Illinois Property Tax Appeal Board. If you believe an appeal would benefit you and your family, contact an attorney to discuss your options. An attorney will aide your appeal if the property has been unfairly assessed when compared to neighboring properties. An attorney may ensure that the assessment is accurate and that the property is receiving all of the exemptions to which it is entitled.

Property tax appeals are only an option for a very short window of time beginning in the spring, and you should contact an attorney to assist you in the appeal process.