Assessment Notices Mailed to Cicero Township

town_of_cicero_sealAssessment notices were mailed by the Cook County Assessor’s Office to Cicero Township property owners on Tuesday, April 17th. The window to appeal your assessment in Cicero is now open through the deadline of May 17th. A second opportunity to appeal at the Board of Review will open up later this year.

The housing market is regularly changing, therefore even if you appealed and won last year, we recommend you review your assessment again. Appealing once, every three years at your reassessment, may be an expensive mistake. Reviewing your assessment annually, and appealing whenever there is a case to be made, is the best way to ensure you don’t pay more than your fair share in property taxes. We are not the only ones who recommend appealing twice per year, every year.
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Property Tax Appeal is a No-Lose Investment, Just Ask an Investor

Cook County Property Tax Appeals & Investor SavingsMaximizing the return on investment for a piece of real estate means keeping a close watch on your expenses.

That’s why Sam Sharp, executive vice president of a top 5 mortgage lender in Chicago and a residential property investor, knows better than to simply accept the initial valuation sent out by the Cook County Property Assessor.

Acting on this knowledge has saved him over $7,000 and, perhaps more importantly, a lot of time.
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High Cost of Local Government Keeps Property Taxes High

Cook County Property Tax Appeals & High Cost of Local GovernmentMore than 140 Illinois local government employees earned more than the governor, according to an Open The Books analysis of 2017 Illinois local government payrolls.

From park district bosses who earn $239,000 a year to 89 small town and village administrators paid in excess of $190,000 a year – more than any governor in the United States – the organization identified a wide list of Illinois public employees whose compensation packages are generous, to say the least.

This is yet another reason why property taxes continue to increase, with appealing them as your only source of relief.
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Palos Township Assessment Notices Mailed

Palos Township ImageThe Cook County Assessor’s Office mailed assessment notices to Palos Township property owners on Tuesday, April 3rd. Homeowners in Palos Township have until the deadline of May 3rd to appeal their assessment at the Assessor’s Office. A second opportunity to appeal at the Board of Review will become available later in the year.

We recommend you review your assessment each year, even if you appealed and won last year, since it is possible to appeal every year and this may be the best way to ensure you don’t pay more than your fair share in property taxes. Others also recommend appealing twice per year, every year.
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Study: $2 Billion in Taxes Shifted as Result of Flawed Assessments

Cook County Property Tax Cost ShiftChicago property owners with homes whose values were over-assessed by the Cook County Assessors Office picked up the tab for homeowners with under-assessed homes, a new study suggests. And the tab? A whopping $2.2 billion between 2011 and 2015.

The study, conducted by the Municipal Finance Center at the University of Chicago’s Harris School of Public policy and reported by ProPublica Illinois, estimates that errors in the county’s tax assessment system led to the massive transfer of taxes onto hundreds of thousands of homeowners with the lowest-valued homes.
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Crain’s: Undervalued Commercial Buildings May Shift Tax Burden

Cook County Commercial Property Tax AppealsA Crain’s Chicago Business analysis found that the Cook County Assessor’s Office may have undervalued some of the city’s priciest, most iconic commercial buildings, raising more questions about the “accuracy and fairness of Cook County’s assessment process.”

The February 23 story compared recent sales prices of 50 of the county’s most expensive buildings to the taxable value set by the assessor’s office. The analysis found the average building assessed at about 46% of its selling price.

One example of these so-called “trophy” buildings is the Aon Center, an 83-story office tower near Chicago’s Millennium Park, which sold for $712 million 2015. The assessor’s office, Crain’s reported, valued the property at $356.4 million.
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New Trier 2018 Assessment Notices Mailed

New TrierAssessment notices for 2018 have been mailed to New Trier Township property owners. The 30 day window to appeal your assessment is now open at the Assessor’s office until the deadline of Thursday, April 19th.

We recommend you review your assessed value every year, even if you appealed and won last year, to ensure you don’t pay more than your fair share in property taxes. After you complete your review of your assessment you’ll want to consider appealing your valuation (we are not the only ones who recommend this approach).
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Oak Park Property Assessment Notices Mailed

Oak ParkThe Cook County Assessor’s office has mailed 2018 assessment notices to Oak Park homeowners. Property owners have 30 days to appeal their assessment, through the Assessor’s office, up to the deadline of Monday, April 2nd.

Whether you successfully appealed your Oak Park property last year or not we recommend you review your assessed value every year to ensure you never pay more than your fair share in property taxes. The housing market changes monthly, and therefore reviewing your assessment annually, and appealing when there is an argument to be made, is very important (county officials also recommend this).
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