Real Property Alliance and the Chicago Association of REALTORS® held the second of two pilot sessions to educate members and the public about how to file property tax appeals Thursday.
The organizations joined forces in the wake of a big property tax increase which began hitting Chicagoans this summer. On average, Chicago property owners saw their property tax bills soar 12 percent on average after a levy increase was passed which goes primarily toward public safety pensions.
RPA and CAR had representatives from the Fisk, Kart, Katz and Regan law firm on hand to answer questions and guide people through the appeals process.
The event Thursday was held at Coldwell Banker Residential Brokerage on North Halsted Street in Chicago’s Lincoln Park neighborhood. The real estate firm provided space, and several of the office’s agents participated in the training.
The program has two goals. First, it works to make sure REALTORS® are armed with the knowledge to help their clients through what might seem like a daunting process. Additionally, the program seeks to share this knowledge with consumers, empowering them to be able to find the comparative properties they need to determine of the want to file an appeal.
Property taxes in Chicago are on the increase, and often consumers are unaware of how reassessments might boost the cost of their home.
“We want to help them today, not just because today with their real estate needs, but down the road,” said REALTOR® Monique Washington with Coldwell Banker Residential Brokerage. “Real estate taxes play a very important aspect of their mortgages, and we want to make sure people … have enough money to pay their mortgage, keep their property and have a sustainable lifestyle.”
Being familiar with the tax process as a broker provides you with an opportunity to be a service to your client that can help them with the ability to purchase a home,” said REALTOR® Ron Battle. “It puts you into a category with your client that would prompt calls and referrals.”
Real Property Alliance is a non-profit organization which works to educate Illinois residents on private property rights issues.