Every year, you have the responsibility to pay property taxes on any real estate you own. Each jurisdiction will handle the property tax rates and collection for property within its boundaries. You may get a different bill each month as authorities do appraisals and...
Once you purchase property in Illinois, you will begin the property tax cycle. Under the law, you will have to pay property taxes every year. To accurately charge you for these taxes, the state will need to go through a process. The Illinois Department of Revenue...
Homeowners and lawmakers hoping for some tax relief did not find it in 2021. For the fourth straight year, Illinois ranked as the state with the second-highest property taxes in the United States, trailing only New Jersey. The average Illinois homeowner paid $4,942 in...
Taxes are one of the few certainties in life, and if you own your own home, you can add property taxes to your annual tax budget. However, how much in taxes you should account for is a little less definite. Property taxes can increase or decrease based on a number of...
The assessor's office has a lot on its plate in Chicago. Their job is to evaluate changes in the real estate market, take everything about your property into account, and determine if any shift in those factors changes your property value. This directly affects your...
Unless you work specifically in the financial oversight sector in Illinois, tax law can seem extremely daunting. This is especially true of property taxes (given their ever-changing nature). You may know little about their complexities (other than the fact that you...
Whether you are paying taxes as a homeowner or someone who runs a business, your tax documents are of great importance. You know you need them to prepare your taxes from the previous year. However, you may have to store tax paperwork going back years for possible...
Windy City residents prepare: Property tax increases are ahead. Despite already having some of the highest tax rates in the United States, Chicago costs keep going up. If you are one of the thousands of residents who expect this year's tax bill to hurt their wallet,...
You may have looked at your recent property tax bill in disbelief. You know that your home is not valuable enough to warrant an increase in your property taxes. In this situation, you may decide to appeal your property tax rate. To do so, you should provide...
If you are like most people, preparing your taxes is a source of stress and anxiety. Not only do you have to consider how much you owe or how much you already paid, but you have to think about the process of filing too. According to Military.com, there are steps that...
