The state of Illinois does not have single-rate property taxes, which means your unique and individual tax will often differ depending on several factors. This can include the property value assessment as well as how much money your district believes is necessary to...
With one of the highest property tax rates in the nation, Cook Country raises millions of dollars annually through this vehicle. Property owners in Chicago often pay close attention to their bills to scope out increases and get a sense of property values. Still, it is...
Research shows that the concerns of Cook County, Illinois residents who have long felt as if their property tax bills were increasing exponentially in comparison with their other expenses have merit. A 2020 study conducted by the county treasurer’s office reveals that...
Receiving a quarterly property tax notice can be a worrisome event for many residential and commercial property owners in Chicago. In 2021, Cook County property taxes were the second highest in the nation. This quarter, many property owners will be in suspense while...
Property taxes are an inevitable cost for most property owners, but the way the state or county determines what owners pay is a fuzzy process of estimation. Assessors do not have the time to investigate every nail and crossbeam on every lot. But their job is important...
It is no secret that Illinois property taxes are sky-high. In some cases, you may disagree with the assessed value of your property as it appears on your tax bill, and if you wish to appeal it, you must do so at the local level. Per the Illinois Department of Revenue,...
Illinois residents face some of the highest property taxes in the United States. Many state residents have questions about why the property taxes for their homes or businesses are so substantial. Many residents do not realize that a link exists between the amount of...
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...
