Cook County property owners, who have already been dealing with lower average home prices and property tax bill increases since 2007, might be asked to pay even more in the coming year. Cook County’s chief financial officer and the Cook […]
A recent ruling in an Illinois Appellate Court could change the standard definition of who qualifies for the homestead tax exemption to include renters under certain circumstances. When Renters Are Liable for Property Taxes The Illinois Third District Appellate Court […]
The Illinois General Assembly is considering two pieces of legislation that would limit the amount of property tax levied on affordable housing. This could increase property taxes across the board. What Each Bill Would Do The pending bill is Senate […]
As Realtors point to high property taxes for a decline in homes sales across Cook County, Illinois Gov. J.B. Pritzker has agreed to create a property tax relief task force, which will include representatives from Pritzker’s office and each of […]
According to a report done by Illinois Policy Institute, “House Hunters: How high taxes hurt home investment in Illinois,” poor public policy has made buying a home in this state unattractive relative to the rest of the country. What the […]
Cook County property tax reassessments have many property owners reeling from the higher valuations, leaving many homeowners still deep under water from 2007 recession. Homeowners Still Reeling From Great Recession Most Chicago-area homes are still worth less than they were […]
In August, Cook County taxpayers received about $24.6 million in property tax refunds, mostly due from property tax exemptions. Who Should Have Received Property Tax Refunds? Cook County Treasurer Maria Pappas said nearly 25,000 homeowners received refunds, and their second-installment […]
In Cook County, the Assessor’s office oversees more than 1.3 million residential parcels, divided into three assessment districts. One of those districts is re-assessed every year using a computer-assisted mass appraisal method. How Mass Appraisal Works Computer-assisted mass appraisal works […]
Understanding the answers to property tax FAQs can help lessen the tax burden for Cook County home and business owners. What Are Property Taxes? Also referred to as “ad valorem” taxes, property taxes are based on the value of property […]
To find a Property Index Number (PIN), owners can look at their deed, tax bill, or other documentation from when the real estate was purchased. For those who are unable to locate these documents, the Cook County Assessor’s website is […]
