The equalization factor is a multiplier used to ensure that the total equalized value, or EAV, of real estate property in all Illinois counties equals 33 1/3 percent of the fair market value. This process is known as inter-county equalization. Each county is assigned its… Read More »What Is the Equalization Factor?
As Cook County residents get hit by the one-two punch of a new property tax assessment system coupled with rising real estate prices, they should consider appealing their property assessments to ensure that the taxes they pay align with the value of their properties. Tax… Read More »Appealing Property Assessments Should Be Done Regularly
The old adage still applies. The only things certain in life are death and taxes. Hoping that you are in good health, let’s focus on property taxes in Chicago and Cook County. You must pay. Do I have to pay taxes if I’m in the… Read More »Appealing Your Taxes? Didn’t Receive Your Bill? You Must Still Pay Your Cook County Property Taxes!
How do you determine a fair property assessment for a unique industrial structure that hasn’t been in operation for years? Is it possible to come to a determination that is best for the property owner and is acceptable to the local government at the same… Read More »Industrial Plant Negotiations Yield Big Reduction in Property Tax Bill
Three Questions and Answers Question 1: “When will my 2nd installment Cook County property tax bill be due?” Answer: That is literally a $16 billion dollar question. As of early April 2022, tax bills are projected to be approximately six months late. Question 1: “How… Read More »2021 Cook County Property Bills to be Significantly Delayed: What it Means to You
“Class 6b” sounds like it could be an obscure bureaucratic rule. In fact Class 6b is a tax incentive opportunity designed to encourage economic development in Cook County. The incentive applies when the real estate is used primarily for “industrial purpose,” and there is either… Read More »Tax Reductions When Building or Rehabbing an Industrial Facility in Cook County
Your property tax bill in Chicago and Cook County is based on the assessed value of your property. That value, in turn, is based on a large number of factors. When even one of those factors changes, the assessed value of your property could go… Read More »The More Things Change, the More You Should Appeal Your Property Assessment
Cook County first-installment property tax bills are usually a shock when you receive them in the mail. For many property owners, the bill has gone up. When you wake up from your fainting spell, learn what you need to know about your tax bill. 1.… Read More »Four Things You Need to Know About Your Cook County Property Tax Bill
We all know that we have to pay taxes. Without taxes, our neighborhoods would have poor schools, lackluster libraries and inadequate fire protection. Our quality of life would diminish, and our communities would no longer be communities where we want to be. But we also… Read More »Appeal Your Property Taxes and Pay Your Fair Share
“My property taxes are too high.” That’s the refrain I hear from new clients like you virtually every day. I will file an appeal on your behalf that likely will result in a lower tax burden. The Cook County real estate assessment and tax system… Read More »Why Should You Appeal Your Cook County Property Taxes?