Tax Assessments What is a tax assessment? How does my tax assessment impact my tax bill? Who determines my tax assessment? How often is my property re-assessed? Can my property be assessed each year? Contesting Tax Assessments Can I contest my tax assessment? How do I contest my tax assessment? If my tax assessment is lowered, how will this affect my tax bill? Do I need an attorney to contest my tax assessment? Should condominium unit owners file complaints individually or collectively through the association? Contesting The Assessment Of My Home Is it possible to reduce the assessment of my home? How do you go about doing this? What are the chances of success? Appeals To The County Assessor What are the deadlines for filing a complaint to the Assessor? If a complaint is filed, when can I expect to receive a decision? How will an assessment reduction affect my tax bill? If I am dissatisfied with the Assessor’s decision, what are my appeal rights? Appeals To The Board Of Review What are the deadlines for filing a complaint to the Board of Review? If a complaint is filed, when can I expect to receive a decision? How will an assessment reduction affect my tax bill? If I am dissatisfied with the Board’s decision, what are my appeal rights? Appeals To The Property Tax Appeal Board What are the deadlines for filing a complaint to PTAB? If a complaint is filed, when can I expect to receive a decision? Why would I appeal to PTAB instead of Court? How will an assessment reduction affect my tax bill? If I am dissatisfied with PTAB’s decision, what are my appeal rights? Appeals To The Circuit Court What are the deadlines for filing a complaint to Circuit Court? If a complaint is filed, when can I expect to receive a decision? Why would I appeal to Court instead of PTAB? Can the Court increase my assessment? How will an assessment reduction affect my tax bill? Tax Incentives What tax incentives are available to industrial property owners in Cook County? What tax incentives are available to apartment building owners in Cook County? Tax Bills My tax bill is $0.00. Why is that? What is a tax assessment? The tax assessment is a value ascribed to a parcel of real property, which is then used to calculate the real estate tax paid by that property. The Assessor is required to estimate the market value of real property. He then applies an assessment percentage to the market value to arrive at the assessment. In all counties other than Cook, property is assessed at 1/3rd of its market value. In Cook, the assessment percentage depends on the properties classification. Residential property is assessed at 16% of market value. Apartment buildings are assessed at 26% of market value. Industrial property is assessed at 36%. And, commercial property is assessed at 38%. Back to Top How does my tax assessment impact my tax bill? The assessment directly impacts the size of the tax bill. The larger the assessment, the larger the tax bill. Back to Top Who determines my tax assessment? The Assessor. In Cook County, there is one assessor for the entire county. In the collar counties of Chicago, there is an assessor for each township. Downstate, there is generally one assessor for the entire county. Back to Top How often is my property re-assessed? In Cook County, property is assessed triennially, or every third year. Elsewhere in Illinois, property is assessed quadrenially, or every fourth year. Back to Top Can my property be assessed each year? Yes. Nothing prohibits property for being assessed each year. Back to Top Can I contest my tax assessment? Yes, due process requires that you have the legal right to contest your assessment before issuance of the tax bill. Back to Top How do I contest my tax assessment? In Cook County, the assessment can be formally contested before the Cook County Assessor. The assessment can then be appealed to the Cook County Board of Review. Then, an appeal can be filed to either the Property Tax Appeal Board or the Circuit Court of Cook County. In all other Illinois Counties, the assessment can informally be contested before the local assessor; however, no county other than Cook has a formal appeal process. The first official opportunity to contest the assessment is before the county Board of Review. Then, an appeal can be filed to either the Property Tax Appeal Board or the Circuit Court of Cook County. Back to Top If my tax assessment is lowered, how will this affect my tax bill? If your assessment is lowered, your tax bill will be lower than what it otherwise would have been. Back to Top Do I need an attorney to contest my tax assessment? Yes and no. An individual may contest his or her assessment on his or her own, without the assistance of an attorney. The Cook County Assessor will allow a non-lawyer to file a tax appeal on behalf of another party. However, only a lawyer may represent another party before the county Board of Review or in Court. Since corporations, partnerships, condominium associations, limited liability companies, etc. are legal entities and not people, only attorneys may represent them. For example, a shareholder who is not an attorney may not represent the corporation he or she owns stock in. Back to Top Should condominium unit owners file complaints individually or collectively through the association? It is more efficient – and generally more effective - for a condominium association to hire one attorney to file a collective appeal on behalf of all homeowners in the condominium association. Back to Top Is it possible to reduce the assessment of my home? Homeowners often obtain assessment reductions as a result of contesting their assessments. Back to Top How do you go about doing this? In Cook County, an appeal can be filed with the Cook County Assessor. An appeal can then be filed to the Cook County Board of Review. And, a final appeal can then be taken to the Property Tax Appeal Board or to the Circuit Court of Cook County; however, appeals to PTAB are more efficient. In other Illinois counties, appeals can be taken to the county Board of Review and then to the Property Tax Appeal Court or court. Back to Top What are the chances of success? The likelihood of success depends on the evidence. The market value placed on the property by the Assessor should not exceed actual market value. If the actual market value, as indicated by a recent sale price or an appraisal, is less than the assessed market value, the taxpayer should prevail. In addition, assessments should be uniform among comparable property. So, if the taxpayer can demonstrate that comparable properties are assessed lower, then the taxpayer should prevail. Back to Top What are the deadlines for filing a complaint to the Assessor? In Cook County, the assessment season generally begins in May and continues through late fall. The assessor allows a thirty-day filing window for each township in which complaints can be filed. These filing windows are spread fairly evenly through the assessment season. The filing deadlines are published on the Cook County Assessor’s web site fairly far in advance. No other Illinois county has a formal filing process. However, assessments can be negotiated with the local assessor at any time. Back to Top If a complaint is filed, when can I expect to receive a decision? Generally, 30 to 60 days after the complaint is filed. Back to Top How will an assessment reduction affect my tax bill? If the assessment is reduced, the tax bill will be lower than it would have been. Back to Top If I am dissatisfied with the Assessor’s decision, what are my appeal rights? You may appeal to the Cook County Board of Review and then to either the Property Tax Appeal Board or to the Circuit Court of Cook County. Back to Top What are the deadlines for filing a complaint to the Board of Review? The Board of Review begins is session after Labor Day each year. The Board will establish a 30-day filing deadline for each township soon after the Assessor completes his work for the township. Complaints must be filed prior to the end of the filing deadline. Back to Top If a complaint is filed, when can I expect to receive a decision? Generally, 30 to 60 days after the complaint is filed. Back to Top How will an assessment reduction affect my tax bill? If the assessment is reduced, the tax bill will be lower than it would have been. Back to Top If I am dissatisfied with the Board’s decision, what are my appeal rights? You may appeal to the Property Tax Appeal Board or to the Circuit Court of the county. Back to Top What are the deadlines for filing a complaint to PTAB? A complaint must be filed to the Property Tax Appeal Board not later than the 30th day following the date of the decision of the Board of Review. Back to Top If a complaint is filed, when can I expect to receive a decision? That depends. If the case is resolved by settlement, this can be accomplished in 3 to 6 months, depending on the backlog of cases. If the case proceeds to trial, you could wait 6 to 12 months for a trial and 3 to 4 four months following the trial for a decision. Back to Top Why would I appeal to PTAB instead of Court? PTAB is considered a poor man’s court. It attempts to resolve cases quickly and efficiently and does not require strict adherence to the rules of evidence. PTAB is accustomed to deciding tax appeal cases. They understand the issues and the law. The taxpayer tends to get a fair hearing. Back to Top How will an assessment reduction affect my tax bill? If the assessment is reduced by PTAB, you will obtain a tax refund, with interest. Back to Top If I am dissatisfied with PTAB’s decision, what are my appeal rights? You may appeal the PTAB decision to the appeals court. Back to Top What are the deadlines for filing a complaint to Circuit Court? Complaints must be filed within 135 days following the due date for payment of the second installment tax bill. Back to Top If a complaint is filed, when can I expect to receive a decision? Currently, cases are often resolved in under a year. Back to Top Why would I appeal to Court instead of PTAB? Taxing districts cannot intervene in Court cases. Furthermore, the Court cannot direct that the assessment be increased. Back to Top Can the Court increase my assessment? No. Back to Top How will an assessment reduction affect my tax bill? If the assessment is reduced by Court, you will obtain a tax refund, with interest. Back to Top What tax incentives are available to industrial property owners in Cook County? The most common tax incentives in Cook Count include incentives for re-occupancy, new construction and renovation of industrial buildings (Class 6b); new construction and renovation of apartment buildings (Class 9); and, remediation of environmental contamination (Class C). Back to Top What tax incentives are available to apartment building owners in Cook County? Class 9. This incentive reduces taxes substantially if the property owner substantially renovates at least two major building systems, spends over $6.00 psf and rents apartments at affordable rates to tenants who meet certain income qualifications. Back to Top My tax bill is $0.00. Why is that? If the tax bill in questions is the first installment bill due in March, then you must either have a new PIN number or the bill for last year was $0.00. If the tax bill in question is the second installment bill due in the fall, then the tax assessment is $0.00 (resulting in a tax bill of $0.00) either because the property is exempt from taxation or was assessed as being of no value. The first installment tax bill is always ½ of the prior year bill. So, if you have a new PIN number, the bill will always be $0.00 since the bill for the year before was non-existent and, therefore, presumed to be zero. You may have a new PIN because you live in a new development, which was subdivided to create new lots with new PINs, or there may have been a tax division or consolidation in which your old PIN was eliminated and new PINs created. If your property is assessed at $0.00, that is either because you are exempt from taxation, or your property is taxable but the Assessor has determined it has no value. If your property has value and is being assessed at $0.00, we would encourage you to investigate why so you do not receive a back tax levy at some future date. Back to Top

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