Triennial property tax re-assessment notices were mailed Sept 14 to owners in the North Chicago Township.

This township is located from the Chicago River to Fullerton ave (2400N) and west to the Chicago River North Branch. (Lakeview and Jefferson townships have already gone through their reassessment and appeal periods.)

After the recent teachers’ strike, it’s more and more likely that Chicago taxes will be going up – the question we each need to ask ourselves is, ” How do I limit my risk for higher expenses?”  One thing homeowners can do right away is file a property tax appeal!

The sales prices for the properties in North Chicago declined by 5+%, but homeowners should still take advantage of the opportunity to file an appeal. Your assessed value may go down, but it may not have declined by 5.3%. Or, even if it went down by 6%, you might still be assessed for more than you should – NOW IS THE TIME TO INVESTIGATE!

2011 Median Sale Price $898,500
2010 Median Sale Price $937,000
2009 Median Sale Price $965,000
Median Current A.V. $89,817
Median Prior A.V. $96,524
Median % Change – 5.275%
Median A.V. Change – $4,147

 

Appeals can be handled one of two ways:

  • Do it yourself! Appeals can be filed online by selecting this link. If your property is incorrectly categorized, or if your assessment is higher than your neighbors’ comparably priced home, then it should be a fairly simple process.*
  • Hire an attorney. Many attorneys work on a contingency basis – they will take a portion of your first year’s savings as remuneration. This means you can appeal without having to pay someone “out of pocket” to do the work on your behalf.

If you would more information about you particular case, contact me – send your requests via email to Anne@Rossley.com.

It’s a good time, too, to  make sure you are receiving deductions for all possible exemptions – homeowners, seniors ….  select this link for all exemption opportunities.

Appeals are due by October 15, with documentation due by 10/25.

 
* I filed my appeal online this year – it took 15 minutes and I was successful in getting the assessment value revised.
 
 
Links:
How Will Chicago Pay for Strike Deal? (NBC)
Teacher Deal Could lead to Property Tax Hikes… (Chicago Sun-Times)
Emanuel mum on how to Pay for Teachers’ Contract (Chicago Tribune)
We May all Have to Pay for Teachers Pact (Southtown Star)
 
 

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