High property taxes are a common complaint throughout Illinois. People may find affordable housing, but once they receive that tax bill, they end up wondering if it wise to buy at all.
Property taxes serve an important purpose, but when they bring about sticker shock, they may do more harm than good. The best thing you can do as a homeowner is to make sure you are paying only your fair share and not more.
Sky High Taxation
According to Illinois Policy, the state is in the top two for the highest property taxes in the country. They are so high that many families struggle to try to pay them. It isn’t uncommon for people and businesses to fall behind on payments or be unable to pay the taxes in full.
The problem is often the assessed value of the property. In Cook County, the Assessor’s Office checks your home’s value every three years based on sales information from the previous three to five years. It does not assess each home. Instead, it assesses your home as part of a group of homes in your location.
The Trouble With Assessments
When the Assessor’s Office assesses your property value, it only looks at vague descriptions and details to compare your home to other home’s in your area. It may not take important factors into consideration, which is why you should consider Cook County property tax appeals Des Plaines IL.
There are many rules about appeals, which can make them difficult. You can only file an appeal at specific times, and the office sets strict deadlines. You must also follow all the rules for filing to ensure the office will consider your appeal.
Lowering Your Taxes
It is unfair to pay higher taxes because the government does a poor job of assessing property values. You have to stand up for yourself. Taking the time to file an appeal can often save you a significant amount of money on your property tax bill.