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Understanding Residential Property Tax Appeals

There are several different classes, or types, of property in Cook County. One of these classes is residential property which includes single-family homes and townhomes. This category also includes condominiums and cooperatives with 6 units or fewer. In some cases, mixed use buildings are also classified as residential property.

How are residential property tax bills calculated in Cook County?

The process is complex and involves multifaceted methods. The Cook County Assessor is responsible for placing a fair market value on about 1.8 million parcels. One third of these properties are assessed each year.

Fair market value of a property is based on the home’s characteristics and patterns of local sale values. Accurate valuation is important because the amount of a property tax bill is ad valorem or determined according to the value of the property on a given parcel. 

Which characteristics are relevant to a property’s assessed value?

Square footage, age, location, and construction type are all considered in the statistical models used for assessment analysis. According to the Cook County Assessor’s website, recent sales of “homes more similar to yours, or closer geographically to yours, make more of a difference in our calculation than other homes” of a comparable size and age.

For many residential property owners, property taxes represent the largest expense in owning real estate. In recent years, Illinois property tax bills have been rising at a seemingly exponential rate.

However, unlike other costs intrinsic to owning property such as mortgage payments or utility bills, tax assessments can and should be appealed. Whether you own a single-family home, townhome, or a condo unit, you should consider appealing your property taxes. An attorney can assist at every step of the process to boost your chances of a significant reduction.

Property taxes unappealing? We can help!

Appealing your property taxes is one way to ensure that the amount you pay is fair whether you live in the north/northwest suburbs, south/southwest suburbs, or in the City of Chicago.

At present, Illinois is second only to New Jersey with the highest effective property tax rates in the United States. A 2020 study found that some Chicago area homeowners pay twice the national average in property taxes for a similarly valued home. Moreover, property tax hikes are slated for 2021.

Appeal.Tax can prepare your property tax appeal and handle it from start to finish. We understand local appeal procedures to help homeowners avoid being overburdened with property taxes.

Appeal.Tax has 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