Gary H. Smith
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(312) 236-7447
Call Us: (312) 236-7447
Cook County Property Tax Incentives for New or Expanding Businesses

Chicago is providing a variety of incentives to businesses for relocating or expanding in Chicago, dependent on the size and location of the project and the number of jobs it creates. What Incentives Are Available The Tax Increment Financing, or […]

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Do You Have Unclaimed Property Tax Refunds or Exemptions?

Many property owners in Cook County may have unclaimed property tax refunds or exemptions. In May, Cook County returned approximately $2.7 million in unclaimed property tax refunds and exemptions and millions more are waiting to be claimed. How to Claim […]

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Are Property Tax Exemptions on the Way for Injured First Responders in Illinois?

The Illinois House is considering a Senate bill that would provide a homestead exemption for first responders who suffer major injuries on duty. What Senate Bill 15-72 Provides This new bill, Senate Bill 15-72 would create a $5,000 homestead exemption […]

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Rehabbing a Historic Home? The Property Tax Assessment Freeze Program Can Help Keep Money in Your Pocket

Property owners who rehab a historic home might run into issues in the rehab process—electrical rewiring or having to deal with foundation and structural repairs—but they could be saving money on their property taxes through the Property Tax Assessment Freeze […]

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Property Tax Bills Burden Hotels, Shopping Malls in Chicago

Commercial properties have been hard hit by the COVID-19 pandemic and are struggling to keep up with real estate taxes. Hundred of Millions Still Owed on 2019 Taxes Nearly $200 million remains outstanding for 2019 property taxes, or about 6% […]

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Skyrocketing Property Taxes Forcing Wicker Park Seniors to Move

Skyrocketing property taxes are nothing new to Cook County residents. The cumulative effect of years of high property taxes is causing residents to rethink remaining in homes even though they have completed mortgage payments. Exemptions No Help Gentrification is also […]

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High Property Taxes in Illinois Make life Difficult for Investors

Property is an investment. And when high property taxes make the total cost of property ownership fall compared to value, it starts to be less of a good investment and more of a nuisance. The Cost of Living in Illinois […]

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Illinois: Still 2nd Highest Property Taxes in the Nation

There are many things that Illinois is known for, but one for which residents wish it wasn’t, was its high property taxes. And it has once again topped the list—ranking second behind New Jersey—on the list of highest property tax […]

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Cook County Tax Burden Shifts to Businesses

Cook County’s triennial assessment system means that the south suburbs are being reassessed this year, raising concerns that although residential property tax bills could drop, the commercial real estate property taxes might be inversely impacted. This could stymie the decades-long […]

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Real Estate Tax Prorations in Cook County

In Illinois, real estate taxes are paid for the year that just passed. The 2021 property tax bill is covering money owed for 2020. When a property is sold, the seller must pay the potential taxes owed the following year […]

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