Cook County Property Tax Appeals

Patricia Smolin Business Reference Librarian Mount Prospect Public Library

June, 2013

Sources

Cook County Assessor http://www.cookcountyassessor.com/

Cook County Treasurer http://cookcountytreasurer.com/

Cook County Property Tax Portal http://www.cookcountypropertyinfo.com/Page

s/pin-search.aspx

Cook County Assessor

Recently redesigned site Create list of properties within same street address or neighborhood range Access appeal forms (.pdfs) Identify posted assessment appeal filing dates and deadlines Patron can file online residential appeal Need to have comparable PINs available

Cook County Treasurer Understand the tax bill Property taxes are paid to the county in arrears (one year

after they are assessed) 2012 property taxes are paid in 2013 Tax Rate Detail on

www.cookcountytreasurer.com/taxingdistrictsearch.aspx Issue Property Tax Bills 1st installment due March 1st

55% of previous year’ s tax bill (was 50% until 2 yrs ago)

2nd installment due August 1st (due date had been anywhere from Sept-Nov in previous years). This is where the adjustment is calculated for following year after appeal.

Patron can pay tax bills online (due 8/1/13)

Assessments and Taxes

The ASSESSMENT is not the amount of property TAXES to be paid Even if the ASSESSMENT decreases (or home value), a homeowner’s property taxes may still increase State of Illinois requires (35 ILCS 200/9-210) that property tax assessments are “equalized” so that the median level of assessment is at 33% of fair market value.

Cook County Multiplier (Equalization factor)

2012 Cook County Final Multiplier released Jun.25, 2013, The Illinois Department of Revenue has released the final 2012 Cook County Multiplier. The multiplier was set at 2.8056. Lower than 2011 @ 2.9706

Calculations

Tax rates are calculated by the Clerk’s Office based on the tax levies submitted by the county's taxing districts and the valuation of properties within those districts Tax rates vary based on area, service line items (e.g. park district, library, water, public school, public safety, road/bridge construction)

Cook County Property Tax Portal

Unified site; comprehensive of pieces from Assessor and Treasurer sites 7 years of property tax history (incl. appeals, tax rate history) Notes documents, deeds, liens (e.g. new purchase, refinance) View payment history of other residential properties

Assessment Appeal Filing Dates and Deadlines http://www.cookcountyassessor.com/appdeadlines/appealdeadlinesform.aspx

Elk Grove Assessment Notice Mailed 3/15/2013 Last Appeals Accepted 4/15/2013 Re-review Final Date 5/31/2013 Date A-Roll Certified TBD Date A-Roll Published TBD Board of Review Filing Dates TBD

Wheeling Assessment Notice Mailed 7/20/2012 Last Appeals Accepted 8/20/2012 Re-review Final Date 9/25/2012 at 5:00PM Date A-Roll Certified 10/15/2012 Date A-Roll Published 10/252012 Board of Review Filing Dates 11/19/2012-12/18/2012

Preparing an Appeal

Appraisal (for new home or refinance) If lower than assessed value, may have cause

for appeal Comparables (comps) Similar property types in neighborhood Based on square footage of living space Not incl. foreclosed properties

Exemptions Check that all apply and are received

Filing an Appeal Assessor’s office EGV Township: 2400 S. Arlington Heights Rd.,

Arlington Heights, IL 847-437-0300 (admin@elkgrovetownship.com) M-F 9:00a- 4:00 p

Wheeling Township: Office of the Taxpayer Advocate Jerry Sadler , Assessor, C.I.A.O., 847-259-1515

Cook County Assessor’s Office Rolling Meadows Office, 2121 Euclid Ave. Room # 237, Rolling Meadows IL, (847) 818-2444 Taxpayers Assistance M-F 8:30a-4:30p

Filing an Appeal Online http://www.cookcountyassessor.com/Internet_Appeal

s/ResidentialAppealsearch.aspx Attorney Check success record Evaluate fee (often includes base + % of savings)

If approved, homeowner will receive notice from Appeal Review board. Change will apply in following year’s 2nd installment.