Real Estate Tax Appeal


Real Estate Tax Appeal

Real Estate Property Tax Basics

As a property owner, you appeal your assessed value, not your tax bill, when you go through the appeal process. Different tax rates are applied to the assessment based on levies from various local government taxing districts, including counties, townships, municipalities, school districts, special districts, etc. These rates determine the tax bill amount. In most cases, individual notices with proposed assessments are mailed to the property address.

The assessment appeal process does not consider tax rates, only the assessment amount. In most cases, it's too late to appeal a tax assessment once you receive your actual tax bill.

Why Would Someone Appeal Their Taxes?

  1. The assessor's market value is higher than the actual market value. You can support this claim if you have recently purchased your property on the open market or if you provide a professional appraisal.
  2. Assessment/sales ratio studies show that your property's assessed value is higher than the prevailing township or county median value. 
  3. Property assessment is based on inaccurate information, such as incorrect measurements of lots or buildings. The assessment is higher than similar neighboring properties. 

Is there a reason why my assessed value increased?

 When your property is reevaluated by the county assessor, similar, neighboring properties are often considered. Several elements contribute to a house's total value, such as its assessed value and the land it sits on. Assessors sometimes make mistakes. Some properties are assessed at values that are just too high. That's why appeals are available. Paying your fair share is just common sense.   

What are Exemptions? 

Property tax exemptions are savings that lower a property tax bill. The most common exemption is the Homeowner Exemption, which provides savings to owner-occupants of a particular property. There are at least five exemptions in most Illinois counties and eight exemptions in Cook County. These exemptions may apply if you're a senior citizen, a long-term resident, a veteran, or a disabled person. In cases where exemptions are not accurate, you may be able to appeal or receive refunds as far back as three years — sometimes amounting to thousands of dollars.


How do I challenge my assessment? 

Assessing the value of a property can be a complex science. Assessors inevitably make mistakes. The ultimate goal should be paying your fair share. Objecting to your assessment has no downside — you will simply be denied. Keeping your assessed value low will minimize your tax burden as property tax rates increase. It's important to make sure that your tax burden is sustainable long-term if you plan to live in your residence for many years.


Put the Castle in Your Corner for All Your Legal Needs

Your property assessment can be challenged in the year it is reassessed. You can also challenge it in years when your township allows it. Each county publishes calendars and deadlines for assessment challenges.

In Illinois, challenging your residential property tax assessment is a complex process. Castle Law understands the process. Our residential property tax lawyers are prepared to assist you in reducing the assessed value of your residential property.