Respecting the review and contest of assessments, there are two points we emphasize. First, any assessment may be contested in any year whether or not the property is being reassessed for that year. Second, we strongly recommend that a separate file be opened for each property so applicable deadlines can be monitored and clients advised well in advance.
Cook County Assessments
Currently, the south and southwest suburban Cook County area is being reassessed for the 2017-2019 triennial. For 2018-2020, the City of Chicago will be reassessed and the north and northwest suburban areas of Cook County were last reassessed for the 2016-2018 triennial and will next be reassessed in 2019.
In reassessing property, the Cook County Assessor generally eliminates any relief in effect and establishes new assessments based on current valuation data. Unless successfully contested, an increased assessment will result in a tax increase for the reassessment year and subsequent years. Any increase is reflected on the Second Installment Tax Bill that issues the year following the reassessment. Therefore, to avoid an increased tax bill, the assessment must be contested when it is made.
Appeal & Closing Deadlines – Cook County Assessor – http://www.cookcountyassessor.com/Appeals/Appeal-Deadlines.aspx
Appeal & Closing Deadlines – Board of Review – http://www.cookcountyassessor.com/Appeals/Appeal-Deadlines.aspx
Collar County Assessments
As in Cook County, each township has a separate filing deadline each year. The great variety of filing deadlines in each county (and the relatively short response time allowed) only underscore our advice that a separate file be maintained for each property.
Whether in or outside Cook County, Rieff Schramm Kanter & Guttman would be pleased to be of service regarding your real estate tax concerns. To assure that any unfair assessment can be reviewed in sufficient time to comply with applicable filing deadlines, we recommend that you identify properties so files can be maintained for each of them.