Tag Archives: property tax appeal service

Treasurer’s Study Shows the 20-Year Climb of Cook County Property Tax Bills

Treasurer's Study of Cook County Property Taxes
If you feel like your property taxes have been rising out of proportion to your income or the rise in the cost of living, a study by Cook County Treasurer Maria Pappas shows you are probably right.

The study shows that the amount of property taxes billed throughout Cook County have increased 99% since 2000: from $7.85 billion in 2000 to $15.58 billion last year.

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Study Shows “Significant” Underassessments of Chicago Commercial Properties in 2018

Chicago Commercial Properties

Sales data for commercial properties in all but two Chicago townships in 2018 show that many assessments fell far short of corresponding market values, according to a recently released analysis by the International Association of Assessing Officers (IAAO).

The findings follow a June 2019 study of residential sales and market values that found similar problems with underassessment and lack of uniformity for residential properties in the city of Chicago.

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Cook County COVID-19 Property Tax Payment Extension Expires Oct. 1

Wooden block with October 1 deadline

The Cook County COVID-19 property tax payment extension expires Oct. 1, 2020, the last day to pay the second installment tax without penalty.  Typically due Aug. 3, the second installment interest penalties for late payments were postponed in recognition of strained economic conditions caused by the pandemic. Any payments made on or before Oct. 1 will be considered paid on time.

Under state law, late property tax payments are charged 1.5% of the total property taxes owed per month, which is collected by the Cook County Treasurer. Payments made after the Oct. 1 deadline will be subject to late payments.
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Error Leaves Some Thornton, Proviso Homeowners Waiting for COVID Adjustments

Error Leaves Some Thornton, Proviso Homeowners Waiting for COVID AdjustmentsSome homeowners in Thornton and Proviso Townships will have to wait a little longer to learn how next year’s property tax bill will be impacted by the Cook County Assessor’s adjustment for COVID-19 hardships.

That’s because a processing error left some properties out when the office was applying COVID adjustments to the property tax assessment in those townships, according to a press release. The error does not affect this year’s tax bill because the adjustments will be factored in assessed values used to calculate next year’s property tax bills.
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Get Started Appealing Your Assessment with the Ease of Clickable E-Signature

customer provides electronic signatureProperty owners can now sign property tax appeal forms electronically – with no need to obtain the services of a notary

At Kensington, our services are designed to help property owners save time and money, and we put a premium on making things as convenient for our clients as possible.

These days, however, there’s more than convenience to be gained in streamlining the process.  Our adoption of e-signature capability means you don’t have to go out searching for a notary to notarize your documents. That’s an unnecessary risk in a pandemic year. But it’s also time you can put to better use, as the process of appealing your assessment is now easier than ever.

To accommodate the need for social distancing safeguards, the Cook County Assessor’s Office no longer requires the notarizing of forms to start the appeal process: a digital signature is all you need. The start of your appeal is just a few clicks away.

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Understanding the Factors That Determine the Size of Your Property Tax Bill

Factors that Influence Your Property Tax BillWhen you open your property tax bill, it’s easy to see if you’re going to be paying more, but the reasons why can be harder to understand.

Cook County Clerk Karen Yarbrough offers a brief explanation in a recent release accompanying the 2019 tax rates. The release includes the “four most impactful factors” that determine whether an individual property tax bill goes up or down. The bad news is, they’re going up in a lot of cases. But every tax bill is a collection of individual components.

Here are the four factors that determine the size of your tax bill, followed by some explanation around what you can (and can’t) do about them:
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Evanston Tax Bills Dash Hopes that Reassessment Might Be Kind to Homeowners

Listening Tour A Chance to Question Cook County Assessor

A whopping 86% of homeowners in Evanston are seeing property tax increases this year. A breakdown compiled by Cook County Commissioner Larry Suffredin shows that 11,924 of 13,810 residential properties have a tax bill that is higher – substantially in many cases – than last year’s.

Suffredin’s office has offered to help Evanston property owners who believe their tax bill contains errors or who may have overlooked an exemption that could lead to a reduction.
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Illinois Legislators Approve Automatic Renewal of Exemptions Due to COVID-19

Listening Tour A Chance to Question Cook County Assessor
Seniors, disabled veterans, and people with disabilities will no longer have to apply annually to receive the benefit of property tax exemptions for which they are eligible, under a statewide law passed recently to expand relief for hard-hit homeowners during the COVID-19 pandemic.

Cook County Assessor Fritz Kaegi, who pushed for the law, announced the bill’s passage in a press release on June 11.

“The COVID-19 pandemic has put tremendous pressure on Cook County homeowners,” said Kaegi. “We’re pleased to work with the legislature, Cook County President Toni Preckwinkle, and the County Board to help at-risk homeowners when they need it most.”
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COVID-19 Property Tax Relief Adjustments for South and West Suburbs

COVID-19 Adjustments

With the release of a report describing how the Cook County Assessor’s Office will factor the COVID-19 pandemic into the assessed property values for the South and West suburbs, Assessor Fritz Kaegi describes how record unemployment and the ongoing economic uncertainty will be factored into values reflected in next year’s property tax bills.

The May 28 report describes the research and methodologies the office is using to create COVID-19 tax adjustments for the South and West suburbs, which are scheduled for reassessment this year under the system by which the office reassesses roughly one-third of the county’s properties each year.
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Cook County Extends Deadline for Paying Property Tax Payments without Late Fees

Cook County Extends Deadline for Paying Property Tax Payments without Late Fees

Cook County property owners will have until Oct. 1 to pay the second installment property tax bill which would have been due on Aug. 3 with no late fees, under a measure intended to provide some relief to taxpayers suffering economic hardship as a result of the coronavirus shutdown.

The measure, approved by the Cook County Board last week, waives the late fees that would normally begin accruing in August.

Two Illinois state representatives have introduced similar measures to delay property tax payments statewide.
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