Property tax appeals may help Chicago homeowners

by | Dec 20, 2018 | property tax appeals | 0 comments

While most people love owning their own homes, they often hate having to contend with property taxes. In many cases, Chicago residents may think their property taxes are too high but that there is nothing they can do about it. Fortunately, that may not be the case. They may be able to file property tax appeals in hopes of having those taxes lowered.

When it comes to working toward a lower tax amount, individuals first need to understand their property assessments and their current taxes. Homeowners should receive new property assessments periodically, and those assessments indicate the value of the property. In some cases, people may believe that their property assessment is too high, causing their taxes to be too high. Possibly, this could happen because incorrect information was applied during the assessment, such as the home having more rooms or sitting on more property than it actually does.

If the assessment information is correct, that does not mean owners are out of luck. They can review the comparable properties in the area and view their recent sale prices. If those properties have lower assessments, individuals may be able to claim that theirs are too high. They can make their claims and their arguments to the appropriate assessors, who will review the information.

In some cases, the initial review will not garner the desired results. However, that does not have to be a stopping point either. Interested Chicago homeowners can continue by appealing that decision with the appropriate boards. Because property tax appeals can be challenging, it may prove wise for interested owners to obtain the help of knowledgeable attorneys who can gain the right information and help effectively present cases.