Property Taxes Too High? Two Recommendations
Is anyone happy with property taxes in Chicago, Cook County or anywhere in Chicagoland? If so, they’d be the first.
But what can we do about it? Aren’t we supposed to just take it… or move?
If you’re unhappy with your property taxes, and are not planning on moving anytime soon, there are two things that you should regularly do for relief.
Property Tax Fairness Review
To ensure property tax fairness, we recommend that you review your property’s assessment every year and appeal your property taxes. You have nothing to lose and may have thousands to gain.
Unless you have an intimate knowledge of comparable properties or “comps” in your area and are experienced in identifying comparable sales, we recommend that you use a third-party service. You only pay a portion of any savings you receive, and only if you receive a reduction. An experienced third-party service can result in your saving thousands of dollars every year, with a compounding effect.
Cook County encourages you to appeal yourself, directly on their website. Doing so could cause you to only receive a small, partial reduction in your property taxes.
Why appeal every year? Because housing valuations are always changing and Cook County re-assesses property taxes every three years.
Vote In Your Local Elections
Whether it’s your mayor, city council, county commissioners, or other similar government roles, it’s crucial that your voice be heard by voting. These are the people that ask for money from the property tax pool. If they want more than is available, your property taxes will likely increase. If that is not what you want, then vote accordingly. You may even want to consider running for office if you feel strongly enough.
Sometimes, specific projects that can increase property taxes are subject to a vote—like an addition to your local school or a new children’s playground for your local park. Even if you’re in favor of funding it, you should still appeal your property taxes because, if your assessment level is not fair and in line with comparable properties, you will likely be paying more than your fair share towards funding that new project for your community—and without the benefit of it being named after you…