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Property Tax Appeals Workshop
- 1. Welcome to the Cook County Boardof Review Property Tax Appeal Forum WITH COMMISSIONER LARRY ROGERS JR.
- 2. Education is theKey This Photo by Unknown Author is licensed under CC BY-SA-NC
- 3. Why Should youAppeal? Property Assessment is Too High Recently Purchased Property Recently Completed Appraisal Property is Currently Vacant Property Sustained Flood/Water/ Fire Damage Property has been Demolished This Photo by Unknown Author is licensed under CC BY
- 4. We Are Here ToHelp! Assist you with filing the proper paperwork. Look up comparable properties for you. Analyze sales data in your area. Review documentation you submit. Help you understand important information found on your tax bill Educate you on other appeal opportunities. This Photo by Unknown Author is licensed under CC BY-SA-NC
- 5. Where Do IStart? This Photo by Unknown Author is licensed under CC BY-SA-NC
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- 7. Cook County Assessors Office Appeal Exemptions Certificate of Error www.cookcountyassessor.com 312-443-7550 Contact your Township Assessor This Photo by Unknown Author is licensed under CC BY-SA
- 8. How to Calculateyour Tax Bill $250,000 Estimated Market Value x.10 Assessment Level (10%) __________ $25,000 Proposed Assessed Valuation X 2.9160 State Equalizer (Changes Annually) __________ $72,900 Equalized Assessed Value -$10,000 Homeowner Exemption (Increase from 7,000) ________ $62,900 Adjusted Equalized Assessed Value X .10 Sample Tax Rate (Your Tax Rate Will Vary) ________ $ 6,290 Estimated Tax Bill in dollars This Photo by Unknown Author is licensed under CC BY-NC
- 9. Average Tax Rates inCook County Highest Tax Rates Park Forest- 35.748% Ford Heights- 32.034% Riverdale- 31.873% Lowest Tax Rates Burr Ridge- 7.111% Barrington- 7.234% Glenview 7.251% Chicago- 6.890% **Find your tax rate** www.cookcountyclerk.com This Photo by Unknown Author is licensed under CC BY
- 10. Average Tax Rate in Chicago 2019 –6.890% 2018 – 6.786% 2017 – 7.260%
- 11. Always Check YourTax Bill
- 12. Do You HaveAll Your Exemptions? Homeowners Exemption Senior Exemption Senior Freeze Returning Veterans Disabled Person Exemption Disabled Veteran Exemption Contact the Assessor’s Office for more information 312-443-7550 www.cookcountyassessor.com This Photo by Unknown Author is licensed under CC BY
- 13. Evidence Used toSupport a Residential Appeal Comparable Properties (Uniformity) - properties that are similar in square footage, age, classification, and location. Comparable Sales (Market Approach)- recent sales that have occurred in the past 3 years. Dated Photos-to prove vacancy, flood or fire damage to the property. For comparable properties please provide the Property Index Number (PIN).
- 14. Appealing Commercial Property Ifthe commercial property is NOT in the property owner’s name, per Board Rule 1, you will need an attorney to file on your behalf. Owner Occupied Property- Appraisal needed that has been completed in the past 3 years. Leased Property- Rent Roll, Lease agreements, 3 years of IRS Schedule E’s, pictures of the property, and/or Vacancy Affidavit. This Photo by Unknown Author is licensed under CC BY-SA
- 15. Condominium Appeals Condo appealsare based on sales that have occurred in the subject’s building. Sales that have occurred in the past three years are the best reflection of the market. Each residential and parking unit have a percentage of ownership assigned by the Condo Declaration. An appraisal can be submitted, if there is limited sales data. In Condo buildings with 4 units or less, a uniformity analysis may be used. This Photo by Unknown Author is licensed under CC BY-NC-ND
- 16. Townships Currently Closed July 30th – August28th Riverside River Forest Oak Park
- 17. Things You Should Know Open Filing at the Board of Review begins in July. Each township is open for a 30-day period. Once that time has passed, the Board will no longer accept appeals. It takes 6-8 weeks to process your appeal. We will NOT raise your assessment. Any change the Board makes will be reflected on your 2nd Installment Tax Bill.
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- 19. Filing Online isSimple! www.cookcountyboardofreview.com
- 20. Don’t Forget to SetUp an Account
- 21. Do You Liketo Text? Text Us @ 474747 Commissioner Rogers is dedicated to using all forms of communication to make the tax appeal process seamless. Text FILE to 474747 to file an appeal by phone. Text EZJOIN to 474747 to receive Board of Review updates and upcoming events.
- 22. Questions? Contact Us! Call usat 312-603-5540 Email us at bordistrict3@info.cookcountyil.gov Reset Password 312-603-5542 This Photo by Unknown Author is licensed under CC BY-SA-NC