Property taxes depend on the assessment of your property, including buildings and land. You have little control over the process, and you often do not even know the results until you get your property tax bill each year. According to Illinois.gov, you can appeal your...
If you are one of the many people who itemize your deductions when preparing and filing your personal Illinois income tax return, there may be many potential opportunities for items you can add as deductions. In some situations, you may qualify to receive a credit on...
If real estate owners' property taxes seem high, they may want to search for issues with the assessment made by the County Assessor's office. One factor that may bring down the amount of property tax is the incentive for solar energy systems. According to the...
Property taxes may be a significant worry for property owners, especially when they come due. To be able to prepare for property taxes, it is helpful for property owners to understand what property taxes are and what they are based on. What are property taxes?...
Residents across the United States know that taxes are part and parcel of today's world. The income generated through taxation may often fund important infrastructure efforts and programs. However, it is important that taxes be fairly assessed and understood by those...
Even if you have fully paid your mortgage, a high property tax bill can continue to make your home a burdensome expense. So if you feel your property taxes are too high, you should think about whether your assessor has accurately assessed your home. There are ways you...
In the state of Illinois, there is no single set rate for property tax. This means that the tax on your property depends on the equalized assessed value of that property as well as the amount of money that your local district determines is necessary for its operation....
Illinois residents face some of the highest property taxes in the nation, even though the median home value in the state is relatively low in comparison with many other parts of the nation. There are a number of factors driving the state’s sky-high property taxes, and...
Not understanding property tax assessments is a common issue, especially in Illinois where the law is a little different than the standard followed in most other areas. According to Curbed Chicago, the property tax assessment process in Illinois is undergoing some...
Illinois residents like you pay taxes on many things. It is important to understand where your money is going. Consumer tax is one of the biggest daily taxes you will deal with. These taxes come from different places. Knowing where your tax dollars go in consumer laws...
