Property Tax Information Session

What You’ll Learn…

  • Assessment districts – which have received the highest and lowest reassessments and tax rates and why?
  • Triennial cycles – significant changes have been made; what will happen the next time around?
  • Tax appeal deadlines and schedules – why they matter; determine when you get your second installment tax bill.
  • Reassessment Notice – the meaning of a government “proposal” to tax and add value, how to understand what characteristics are important to value and how to determine market value equity.  If an owner does not receive a proposed notice, are they exempt from any suggested increase?
  • Assessment complaint forms – how should they be filled out and by whom?
  • Assessor web site – how to make it work for you in your search for evidence for your appeal or peace of mind; tips on navigating the web site to make it effortless to obtain the proper comparables. Understanding the assessment break down on land and building, and how to use the same methods the assessors’ staff use to determine if your assessment should be changed.  Can land values be challenged?
  • Residential classifications – what do they mean? What if they are wrong, but favorable to you or not.  Can a homeowner request a classification change and does that help or hinder in the appeal
    Process?  Do some classifications of property automatically make that class prone for a higher assessment or lower one?
  • Tax appeal reduction notice – how to determine if the reduction decision you received from the Assessor or Board of Review is fair or not — instructions on how to “read between the lines”.  Re-review letters — how to properly re-negotiate another reduction.
  • Certificate of error – reasons that determine if your case warrants tax refunds for prior years.
  • Homeowner Exemptions – using the Assessor’s and Treasurer’s web site to determine if you received this exemption for the past 4 years; understanding the 7% cap and the value of the  so-called 7% (exemption) cap that can reduce your second installment tax bill  from $260 to as high as $3,000.
  • Exemptions – overview of all types: Homeowner, Senior, Senior Freeze, “Long-term” Circuit Breaker. Can you get refunds for being qualified, but not having them applied for years?
  • Assessor’s Vault – property records you are entitle too but are not on the Assessor’s web site. Why property records are important, including property record cards, sales specific data and permits used in the reassessment process.
  • Evidence – how to put it together in a simple format that makes the appeal analyst want to give you a break.
  • Tax bill – how to read it, find mistakes and refunds from a pool of Cook County refunds totaling $158 million.
  • PIN – what is a property ID number, breaking down the components of the mystery tax id number.
  • Tax Rate & State Multiplier – how they affect your tax bill, your assessment and actual market values. History of rates and multiplier. Why Cook County owners, unlike those in 101 other counties, are not allowed to appeal their multiplier or equalized assessment values.
  • Omitted Assessments – the dangers of getting an “Omitted (back tax) Tax Notice”; what you can do to prevent one and how to appeal a back tax notice.
  • Cook County Treasurer – what role does this agency play in the tax appeal process? How to use the Treasurer’s web site to find lost exemptions, tax refunds, property tax payment status, change your name on your tax bill , etc.
  • Working with law firms and consultants – when it’s essential to work with a law firm or consulting company and how can you best negotiate, manage and support the property tax appeal process.

Schedule a Property Tax Information Session

Tax Talks can be tailored to fit the interests/needs of organizations, associations and taxpayer-participants. Fill out our online form for a Property Tax Talk Request to schedule a free tax talk for your organization or download our Sponsor A Tax Talk PDF form to do the same.