Illinois does not have a predetermined statewide property tax rate. According to Illinois.gov, tax officials assess most properties at 33.3% of fair market value. Cook County homeowners may have tax rates of at least 16% of their home's market value. Officials revalue...
As a small business owner, you want to keep your bottom line as low as possible. One of the ways you may be able to do this is via property taxes. If you own commercial property, you owe property taxes to the state. If you feel that your last property tax assessment...
If you own property in Cook County, you know about property taxes. According to Smart Asset, tax rates for property in Cook County sit at 2.1 percent. Property owners who believe they pay too much in property tax may file an appeal with The Board of Review. If you...
If you own a commercial property, you must pay property taxes on this real estate. The taxes paid by you on your property go to your local area to fund schools and other local initiatives. How much you pay in property taxes can vary from year to year based on your...
Rental properties can add tremendous value to your real estate portfolio in Illinois. However, one obligation of owning rental properties is the responsibility to pay property taxes. Depending on factors including location and property age and size, your tax...
As a property owner, you could have a considerable amount of stress as a result of property taxes. Whether you have concerns about your ability to pay taxes or you become frustrated because you believe that a recent assessment was unfair, it is crucial to find answers...
If you owe property taxes, you could have various questions related to an assessment. From struggling with the taxes you owe to determining whether a recent assessment was unfair, taxpayers can have many different concerns. Moreover, it is helpful to familiarize...
Whether you currently face financial hardships because of an unexpected medical crisis, the recent loss of your job or any other reason, paying property taxes could become particularly difficult. Moreover, some taxpayers miss payments because of oversight or they...
If you have fallen behind on tax payments as a result of financial hardships, it is pivotal to understand your options. For example, if you owe property taxes and you fail to address these debts, you could face a number of consequences, whether you have no choice but...
If you felt surprised the first time you received a summons to pay property taxes, you are not the only one. Many people, especially first-time homebuyers forget that owning property means paying taxes on that property. A basic understanding of how officials assess...
