Refunds for property taxes given to homeowners in Chicago area

by | Jan 1, 2019 | tax law | 0 comments

Understandably, many people hate having to address their taxes. Property taxes in particular can be difficult to handle, and some individuals may not know whether they are even paying an accurate amount. In some cases, property owners may actually be paying too much in taxes and be due a refund.

It was recently reported that approximately 30,000 homeowners in the Chicago area are set to receive property tax refunds. According to reports, the homeowners either paid more than what they owed or paid their bill only for their taxes to be reduced afterward. As a result, these homeowners will automatically receive refunds rather than having to apply for a refund. It was mentioned that new technology was helping with this endeavor, but details on that technology were not given in the report.

The report stated that the 29,752 homeowners had been overpaying since 2013. In total, the refunds would reach approximately $8.3 million. The homeowners will apparently either receive their refunds through checks or through refunds to their bank or credit card accounts. The manner in which they receive their refunds will depend on the way in which they paid.

Receiving refunds for property taxes is certainly a cause for celebration. Of course, some Chicago residents may feel that their taxes are too high but are not yet in line for a refund. Fortunately, individuals in this type of situation could explore their options for appealing their property tax amount or their property assessments. Speaking with experienced attorneys could help concerned parties better understand their appeals options.