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Legislative Activists are Seeking to Abolish Cook County Taxpayers from Filing Property Tax Appeals at the Property Tax Appeal Board

The Illinois Property Tax Code provides three levels of assessment review to challenge taxpayers’ assessed fair market values and excessive real estate taxes.  A taxpayer can appeal to the Cook County Assessor’s Office (the first level of appeal), the Cook County Board of Review (the second level of appeal) and can choose a third and […]

Important Things Every Real Estate Professional Should Know About a Prospective Property’s Real Estate Assessment

Real estate tax assessments are an important part of a home’s value and can affect a buyer’s decision to purchase a particular property.  Among some of the important considerations real estate professionals should have about a property’s real estate tax assessment are: 1. Tax assessment vs. market value: A property’s real estate tax assessment may […]

Cook County Assessor Kaegi Fails to Uphold Previous Cook County Board of Review Assessment Reductions Granted Last Year

Cook County property owners received their first installment 2022 tax bills in the mail this weekend.  For many property owners, particularly those who own properties located in Chicago which was reassessed in 2021, their first installment 2022 tax bill was higher than in prior years because of dramatic increases to their property values that were […]

First Installment 2022 Real Estate Taxes Due on April 3, 2023

At the end of 2022, the Illinois legislature enacted a new provision which moved the payment deadline for the 2022 first installment payment from March 3, 2023 to April 3, 2023.  This amendment to the Illinois Property Tax Code Section 35 ILCS 200/21-25 was made in part as an accommodation to the 2021 second instalment […]

Second Installment 2021 Property Tax Bills Due on December 30, 2022

Cook County Treasurer Maria Pappas announced that the second installment 2021 real estate tax bills will be posted on the Cook County Treasurer’s website (www.cookcountytreasurer.com) next Tuesday or Wednesday, November 14th or 15th.  Taxpayers will be able to download their tax bill to print and mail their payment in, pay online at the Treasurer’s website, […]

2021 Cook County Equalization Factor Finalized

The Illinois Department of Revenue (IDOR) finalized the 2021 Cook County Equalization Factor of 3.0027 on Tuesday, October 18, 2022.  Since Cook County is the only County in the State of Illinois that “classifies” and thereby “assesses” different types of properties based on their use, the IDOR is required to configure and implement an annual […]

Cook County Assessor Raises Valuations of Commercial, Industrial and Multi-Family Properties Substantially More Than Residential Properties

2022 marks the triennial assessment year for all of the north and northwestern townships of Cook County.  Through the first nine reassessment townships, Assessor Fritz Kaegi continues to increase assessments for commercial, industrial and multi-family residential properties at much higher rates than residential property owners.  This trend began during Assessor Kaegi’s first reassessment in 2019 […]

Tentative 2021 Cook County Equalization Factor Set

The Illinois Department of Revenue announced a tentative 2021 Cook County Equalization Factor on June 14, 2022.  The tentative Cook County Equalization Factor of 2.7297 was announced much later this year than in previous years.  For example, the 2020 tentative Equalization Factor which was announced on January 25, 2021.  This later release was representative of […]

Illinois Appellate Court Grants Townhome Associations the Right to Pursue a Tax Appeal on Behalf of the Entire Association

In a judicial opinion issued on December 20, 2021, the Illinois Appellate Court, Second District was asked to make a determination on whether a “townhome association”, in contrast to a “condominium association” had standing to proceed with a property tax  appeal at the Lake County Board of Review. See Deerpath Consolidated Neighborhood Assoc. v. The […]

2020 Second Installment Cook County Real Estate Tax Bills Are Expected To Be Due On October 1, 2021

The Cook County Treasurer Maria Pappas has publicly stated that she expects the second installment 2020 real estate tax bill to be due on October 1, 2021.  Ms. Pappas anticipates that the bills will go out in August so that they are received by Cook County taxpayers at least 30 days before the October 1, […]