Chicago, Illinois Tax Law Blog
Hospitals and property tax rates
Hospitals play a critical role in the community, from handling health emergencies to providing residents with medical services they count on. However, hospitals face many financial pressures, from massive debt to tax burdens. Some hospitals, such as nonprofit...
Property taxes and emotional strain
From business owners to those who own residential homes, property taxes are often difficult to deal with. These obligations place a lot of financial strain on families and entrepreneurs, sometimes resulting in shattered dreams and necessitating major changes (such as...
Business owners and property tax appeals
Business owners face a myriad of legal and financial issues, from contract disputes and employment law hurdles to worries about the future of their company. Unfortunately, tax obligations place a lot of strain on many business owners, especially property taxes. There...
Are you paying too much for property tax?
One reason to appeal your property tax in Illinois is if you suspect you are overpaying. Multiple factors affect the payment amount of your property taxes and verifying that your payments are fair is never a bad idea. If your research suggests that you are overpaying,...
Property tax appeals in Cook County
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...
Understanding property tax assessments
For many people, the dream of owning their own home signals a major milestone in their life. A place to call one's own can bring with it a sense of freedom and security, but it also comes with some responsibilities that are unique to home ownership. Paying property...
New county assessor changes tax property game
If you own one or more pieces of industrial or commercial property in Chicago or other areas of Cook County, you may want to pay close attention to how the county's new assessor is approaching the subject of property taxes. New approach could mean higher taxes As...
Taxes don’t have to ruin your dream of homeownership
If you are like many Chicago residents, you probably dream of owning your own home. If you have a stable and steady source of income, you may feel like it is time to make that move. Unfortunately, for some people concerns over debt and property tax might make it seem...
Are you up-to-date on Corona Virus-related property tax relief?
When the Internal Revenue Service announced tax filing extensions, millions of Americans breathed a sigh of relief. But for many people paying property taxes on the state and local levels, the relief is limited. In Illionois, many people have been wondering how state...
How a 2020 recession will impact you and your taxes in 2021
Americans nationwide are worried about their financial well-being—understandably so. We are experiencing unprecedented times. Many economists predict that America and the world are about to experience a serious economic downturn. Are you ready? Property Taxes Do Not...
