Real Property Alliance and the Chicago Association of REALTORS® are holding two workshops to help those who want to file a property tax appeal with the Cook County Assessor.
The sessions in Lincoln Park will be:
- 4-7 p.m., Sept. 27, Coldwell Banker, 1959 N. Halsted St., Chicago
- 4-7 p.m., Sept. 29, Coldwell Banker, 1959 N. Halsted St., Chicago
Property owners in Chicago recently received 2015 tax bills reflecting a 12 percent increase on average, largely driven by the city’s portion of the tax levy to fund public safety pensions. While the 2015 bills are already finalized, if you live in the north side of Chicago, the deadline file an appeal on your 2016 assessment is looming.
All property owners have the right to appeal their property tax bills, and doing so potentially could save the owner on future bills. There’s no guarantee that the assessment will be lowered, but it will not go up as a result of filing an appeal.
To file an appeal, a property owner will need provide comparable properties to make a case for a lower assessment. If a similar home in a similar set of tax circumstances was assessed at a lower rate, then the property owner could have a case for lowering a property tax assessment.
Real Property Alliance and the Chicago Association of REALTORS® will have representatives at the sessions who will help property owners through what can often seem like a complicated process. There’s no cost for the assistance, as a core mission of both organizations is removing barriers to homeownership.
Given that property taxes already may increase in the future to cover other budget shortfalls, filing now could save money later.
Interested in learning more about the process? Go to the website set up by Real Property Alliance and the Chicago Association of REALTORS® which has information on how property taxes are calculated and what you can do about your assessment.