Every three years, the Cook County Assessor’s office initiates a review of property tax valuations for properties in one of three districts within the county. These reviews result in updated assessment notices being sent to the property owners. It is on the valuations indicated in the assessment notices that an owner’s property tax bill will be based. If an owner believes a valuation is inaccurate, they may appeal the county’s assessment.
County process for tax appeals
As explained by the Cook County Assessor’s office, there are specific guidelines that should be followed by any property owner wishing to appeal a valuation assessment. One of these guidelines is the request to appeal the decision. This request must be made by the deadline stated on the assessment notice. For most properties, this deadline will be somewhere between 30 and 40 days after the new assessment notice has been received.
Multiple assessment processes
It is important for a property owner to carefully review all property tax assessment appeals guidelines. The guidelines and process are not the same for all properties. For example, there may be one process for multitenant residential properties and quite a different process for vacant lots. Property owners should do their due diligence to be educated about the process that applies to their situation.
Collection of data matters
Property owners wishing to appeal a property tax valuation should work to collect as much data to support their position as possible. Kiplinger indicates that one set of data may be a comparison of like properties in the area or in the direct neighborhood.