Appealing Your Property Taxes
Overview of Tax Appeals
Tax assessment is what the assessor thinks your home is worth. The tax assessment letters usually come out in the fall. You have 30 days from the date on the letter to file a tax appeal.
On the letter you receive, look for the amount of the assessment for your home, and triple it, to find the fair market value of your home (or what the assessor thinks is the fair market value of your home). If you think the assessor's fair market value is higher than it should be, you can appeal (also known as protest) your taxes. You can appeal the taxes yourself, or you can hire a lawyer to do it (lawyers will charge a flat fee or a percentage of the reduction). No third parties can appeal for you.
Common Reasons Your Assessment Increased:
Property values in the area went up.
Improvements were made to the home.
The home was under-assessed in the past.
An exemption was removed.
Reasons to Protest Your Taxes
You can protest the market value of your home if it seems too high.
The market value of your home seems correct, but you notice that houses of similar size and home qualities are assessed lower than yours.. In other words, your neighbor who lives in a very similar house has a much lower tax bill than you! This is called protesting on the basis of "uniformity".
If you recently purchased your home and the sale price was less than the assessor's fair market value. This is known as protesting on the basis of sale price.
How to Appeal Your Taxes - Part 1
Contact your local assessor and ask why your home was assessed at higher than you think it is worth. Sometimes there can be an informational error such as the wrong square footage.
Ask to see your Property Record Card on file, and check to make sure all the information on it is correct. Some items to check:
Square footage
Number of bedrooms and bathrooms
Improvements (deck, concrete driveway, brick/siding, finished basement, etc.)
Defects such as a leaky basement or an older roof
Age of the home
Check to see if you are eligible for any of the 6 exemptions allowed to homeowners
Is the lot size correct and how does it compare to other homes that are assessed lower than yours?
3. If there was an informational error on your card, ask the assessor to make the correction. At this point, no further action is necessary.
How to Appeal Your Taxes - Part 2
If your tax issue is not resolved with the local assessor, you must file a tax appeal form. You can get the form at your local county assessor's office, or online from your county's website.
On the first page of the form, you will provide information about your home, and indicate on what basis you are appealing (either fair market value, sales price, or uniformity).
On the second page, you will be asked to provide information in grid format about your home (subject home) and 3 comparable properties. You can locate this information at your assessor's office (also Zillow or Redfin might have some of the basic information). Your job is to choose comparable houses that are just like yours from your neighborhood. The object is to show the assessor that your home is assessed higher than it should be compared to the other 3 homes. You can also attach an appraisal if it supports your case.
Once you submit the form, you will receive a letter telling you when your meeting is with the Property Tax Appeal Board. When you attend the meeting, board members will ask you questions about your house and the information you provided on the appeal form. You will receive written notice of the appeal decision.
If you are not happy with the decision, you have 30 days to appeal to the State of Illinois. This form is also available at the assessor's office.
Other helpful sites:
Your local county tax assessor's website