COVID-19 Impact on Property Taxes

COVID-19 Impact on Property Taxes

COVID-19 Impact on Property Taxes

In response to the COVID-19 pandemic, Illinois legislators adapted tax policies and procedures. Below are some of the changes that directly impact property owners and property taxpayers.

  • The Cook County Assessor initially suspended mailings and appeal deadlines in March 2020. The mailings resumed in May 2020 with a revised schedule.
  • In May 2020, the Illinois General Assembly passed SB685, which allowed counties to provide property tax relief by extending property tax payments up to 120 days.
  • Homeowner exemptions (ex. Senior Citizen Homestead Exemption, Senior Citizen Assessment Freeze Exemption) were automatically renewed for a year without the need for application.
  • Tax Sales have been postponed until the COVID-19 disaster declaration is rescinded.
  • The Cook County Board of commissioners agreed to waive late fees on property tax bills.

At a time when Illinois residents are dealing with the impact of the coronavirus on public health and the economy, property owners have been receiving their 2020 property tax bills.

How Do Cook County Property Taxes Work?

For property tax purposes, Cook County is broken up into three main sections: north suburban, south suburban, and the City of Chicago. Every three years, Cook County properties in those respective areas are reassessed. That’s why it’s referred to as the triennial reassessment schedule.

In 2020, the south suburbs are being reassessed. This includes Berwyn, Calumet, Cicero, Lemont, Lyons, Oak Park, Orland Park, and River Forest.

Why Should You Appeal Your Property Taxes?

In 2019, some Chicago north side and north suburban property owners saw sharp increases in their property taxes. That’s a major factor in Illinois being the second highest state for property taxes (just behind New Jersey). This is the third consecutive year Illinois has been the second highest.

Now that the Cook county assessor has resumed their mailings and updated their appeal deadlines, property owners should not stand pat. If you are a property owner, particularly if your property is located in the southern suburbs, you should consider appealing your property taxes.

Many government offices are experiencing back logs and delays. This includes the DMV, City Clerk, the courts, and the Cook County assessor’s office. And while there have been considerations and extensions, property owners will still be expected to pay their property tax bills. At a minimum, it only makes sense that property owners have done everything they can to reduce their property tax burden.

Why Hire Appeal.Tax?

Due to COVID-19, filing deadlines are being shortened to accommodate a compressed tax appeal schedule. Nonetheless, Appeal.Tax has been taking advantage of the last few months to prepare a stronger case for our Cook County clients.

Appeal.Tax prepares the property tax appeal and handles it from start to finish. There is no fee unless a reduction is obtained. And we only charge a small portion of the overall tax savings secured. 

Since 2015, we’ve saved Illinois property owners over $100 million in reduced property taxes.

Contact Appeal.tax today to discuss your Association, residential, or commercial property tax appeal. Tax Attorney Timothy Jacobs can be reached at 847-777-7270 or tjacobs@ksnlaw.com.

This article is made available by the lawyer or law firm publisher for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By reading this article you understand that there is no attorney client relationship between you and the article author. This article should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. © 2020 Kovitz Shifrin Nesbit, A Professional Corporation.

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