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Tax hike?! 3 ways to fight the latest Cook County property assessments

By Michael H. Wasserman 
City of Chicago homeowners should be on the lookout for newly proposed assessed valuations from the Cook County Assessor’s office. A property’s assessed valuation has a direct relationship to the amount of upcoming property tax bills. Savvy property owners (including readers of this blog) know that they can—and should—fight back by appealing those assessment notices. Here's how.

What’s more American than appealing your property taxes? 
Ask you may know, all Cook County properties are re-assessed every three years. The City of Chicago gets its turn in 2018, with north suburbs in 2019 and south suburbs in 2020. While it does take some effort, appealing can be fairly painless and doing so is well worth your time.

How bad is it going to be? Too soon to tell, as the County has only rolled out assessment notices in a few townships. That said, the Sun-Times is already reporting some property values are up more than 50% from three years ago. We have seen some in our office above 60%. Yes, you read that correctly: 60%.

Homeowners get three tries to fight the hike 

First try: File an appeal if you think your property has been over-assessed. You can file an appeal with the Cook County Assessor’s Office.
You can base your challenge on several arguments:
1. Lack of uniformity when compared to the assessments of similar properties
2. Sales of similar properties at prices lower than your assessment
3. Your recent purchase price of the property for a lower sum
4. Damage to your property
5. Vacancy or inhabitability of your property
6. Incorrect property characteristics (i.e., records state more bedrooms or baths than you actually have)

I think it’s worth appealing whether you have a basis or not. 

Second try: If you are not satisfied with the results of your appeal, appeal again. Take your fight to the Cook County Board of Review. This office has its own set of deadlines. If you miss it, you can call 312-603-5542 to preregister for next year.

Third try: If you are dis-satisfied with the Board of Review decision, try a third time with the Illinois Property Tax Appeal Board (PTAB). You can only do so if an appeal to the Board of Review was filed—and again, you must act quickly after the Board of Review decision is issued. Unlike appeals at the Assessor and Board of Review levels, PTAB appeals are decided after tax bills are due. You have to pay first, then hope for a refund of taxes paid, as opposed to a reduction in taxes on your second installment tax bill. 

Pro Tip 1
You can file your appeal alone, with your condo association (if applicable), or hire a property tax litigation attorney (sorry, that’s not our firm).

Pro Tip 2
There are strict filing windows (approximately 30 days) for appeals. The timelines differ for every township. For example, the clock is really ticking for Rogers Park—you only have until May 23 and some deadlines have already passed.

I hope this post is helpful and results in a reduction for you. Special thanks to Peter Tsantilis, Esq. of The Law Offices of Liston & Tsantilis, P.C., for his insight and knowledge on this topic.

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