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May 3, 2019 Tax Sale

Property owners who have not paid their 2017 taxes will have their properties offered in a tax sale for investors on Friday, May 3, 2019.   Cook County Treasurer Maria Pappas said that there about 1,000 homes owned by senior citizens whose homes are in jeopardy of being offered at the May 3rd tax sale per […]

When Do Mortgage Companies Make Changes To Your Annual and Monthly Escrow Payments For Real Estate Taxes?

As a result of our successful appeal efforts, and in reporting those assessment reductions to our clients, a common question we often receive is, “When will my monthly mortgage payment be adjusted to reflect the reduction in the property tax assessment?” The standard procedure for lenders or mortgage companies is to review the homeowners’ escrow […]

Treasurer’s Office Issuing Refunds for Overpayments Without Requiring Refund Applications

By Steven Kandelman The Cook County Treasurer’s Office is issuing nearly 30,000 homeowner refunds without requiring refund applications to be completed and submitted by the taxpayers. The refunds are the results of overpayments made for a number of reasons causing homeowners to pay more than the amount owed on the tax bill.  The overpayments could […]

2019 Triennial Assessment for all Properties Located in Northern Townships in Cook County and 2019 Quadrennial Reassessments for all Properties Outside of Cook County will issue in the upcoming months

On December 3, 2018, the new Cook County Assessor will begin his term in office.  The new Assessor will promptly begin work on the upcoming 2019 assessments at the end of 2018 and during the first half of 2019.  For 2019, the 13 northern townships of Cook County, will be re-assessed.  This group of townships […]

Recent Cook County Circuit Court case where taxpayer’s purchase from a bank is interpreted as an arm’s length transaction

A recent Illinois Appellate Court decision (Gateway-Walden, LLC v. Maria Pappas, County Treasurer – 2018 Ill.App. (1st) 162714-U held that a taxpayer’s purchase of a multi-tenant office building from a bank who took title of the property after a failure by the mortgagor to pay its mortgage was considered to be an arm’s length market […]

Illinois Supreme Court Preserves Real Estate Tax Exemptions for Not-for-Profit Hospitals

In a recent Illinois Supreme Court decision named Oswald v. Hamer, which was filed on September 20, 2018, the Court has ruled that not-for-profit hospitals may, under specific circumstances, be exempt from having to pay real estate taxes.    In the unanimous decision, the Illinois Supreme Court held that a statute that was signed into law […]

Estimated Refund of $19.5 Million in Paid Property Taxes to Cook County Homeowners by October 15th

Approximately 53,000 homeowners who paid property taxes via cash or check will be getting rebate checks in the mail due to increases in the homeowner’s exemption and senior citizen’s homestead exemption amounts by the end of August.  Cook County Treasurer Maria Pappas announced that the refunds result from the increase of the homestead exemption from […]

2017 Cook County Tax Rates and 2017 Second Installment Tax Bills Issue

by Steven Kandelman The Cook County Clerk’s office has recently issued the 2017 property tax rates.  These rates will be factored into creating the 2017 second installment tax bills which will issue on time and will be due on August 1, 2018. The total of all property taxes billed for Cook County taxing districts in […]

Due Diligence When Hiring Property Tax Counsel

By Glenn Guttman Many people have the perception that property tax appeals are a simple, straight-forward, easy, “run of the mill” type of work that may not need the expertise, advocacy or preparation of a licensed attorney. In fact, with the sheer number of postcards and letters that are showing up in mailboxes throughout the […]

The 2017 Cook County Equalization Factor has recently issued

By Steven Kandelman On May 24, 2018, The Illinois Department of Revenue issued the final 2017 Cook County Equalization Factor which is 2.9627.  This factor is a 5.69% increase from the 2016 equalization factor of 2.8032 which was a 5.05% increase from the 2015 equalization factor of 2.6685. The equalization factor or multiplier is used […]