It's Time to Review Your Property Tax Assessment (and Save Your Money)

Property Tax (Source: flickr.com/401kcalculator.org)

2015 is a reassessment year for your property taxes. This periodic update is performed every three years, and 2015 brings that cycle around again.

This change affects ALL properties. There are many times an appeal to this reassessment is advised, and for many homeowners, an appeal can save you money in the long run.

The filing dates for 2015 depend on township. As of today, Oak Park and Rogers Park township assessment appeal dates have passed, but the vast majority of Chicago homeowners still have time to appeal. This includes Lake View (4/8), Hyde Park (6/16), Jefferson (8/14), North Chicago (9/14), South Chicago (10/5), and more. View the full deadlines list here.

Why appeal your property tax assessment?

For almost all homeowners, there is a good chance that you are paying more in property taxes than you should be. In fact, according to National Taxpayers Union, as many as 60% of properties in the U.S. are assessed at a higher amount than their current value.

Appealing your property tax assessment could very well grant you a good savings on your property taxes.

How to appeal your property tax assessment

There are three ways to appeal your property taxes:

1. Appeal on your own

Homeowners are able to appeal their taxes on their own through Cook County Assessor website. They provide a good amount of detail on the process, but this is option is best used by someone with a good working knowledge of the system.

2. Appeal with an attorney

Work directly with an attorney to make the most of your appeal. Attorneys will be able to definitively make a solid appeal for your property taxes, while being able to explain the process as you go (should you want to take this upon yourself in the future). Attorneys are not paid by you directly, though they will take a percentage of your property tax assessment savings.

3. Appeal with an online service

Turbo Appeal is a great way for beginners to appeal their property taxes. It is a no-risk system for appealing your taxes, and guides you through the process smoothly. Turbo Appeal bases their system on evidence-based, data-driven evidence and has a high success rate for helping homeowners appeal their property tax rates. Like using an attorney, this online service takes 30% of your property tax assessment savings for the first year (if there is a savings).

Need help? Be sure and ask us for more details. We will direct you to someone who can help.

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