HOW TO FILE AN APPEAL WITH THE COOK COUNTY ASSESSOR Presented By: COOK COUNTY ASSESSOR’S OFFICE Hosted By: Terry Kelly, Township Assessor
Mar 26, 2015
HOW TO FILE AN APPEAL WITH THE
COOK COUNTY ASSESSOR
Presented By: COOK COUNTY ASSESSOR’S
OFFICE
Hosted By:
Terry Kelly, Township Assessor
Properties are reassessed every three years in Cook County
2010 is a reassessment year for Palatine
Township residentsWill shortly be receiving a notice of
reassessment from Cook County Assessor
This appeal will cover the:
2010 assessment2010 assessment, which appears on
2011 property tax bills2011 property tax bills
WAIT!!!
“I just got a new tax bill in the mail and it’s too high. What can be done about that?”
CHECK YOUR EXEMPTIONS• Homeowners• Senior Citizen• Senior Freeze• Long-Time Home Owner
Also, do you qualify for any of these: Disabled Person Disabled Veteran Returning Veteran
EXEMPTIONS
Did You Loose an Exemption?
• Change in your Property Title?
• For senior freeze need to apply each and every year
• PLEASE CALL THE TOWNSHIP ASSESOR’S OFFICE IF YOU BELIEVE THERE IS AN ERROR IN YOUR EXEMPTIONS
847-358-6700847-358-6700
One area to look at for increase
Reduction in Maximum Homeowners
Exemption—down to $20,000 (from $26,000)
Multiply $20,000 times local rate-- (6.836% in Palatine School Dist. 15, Pal Park, etc)
EQUALS$1,367.20 HOMEOWNERS EXEMPTION
Previous Year Calculation
$26,000 X 6.974% = $1,813.24 (previous-2008)
$20,000 X 6.836% = $1,367.20 (current-2009)
Exemption $446.04
Reduction
You want to make sure you are receiving each and every exemption you are entitled to. Exemptions are:
a) Homeowners. You receive this if your property has been your residence as of Jan. 1st. The 7% Cap (extended homeowners exemption) allows for the following maximum deductions
$20,000 2006$30,000 2007$26,000 2008$20,000 2009
a) (Good explanation of this on the Cook County Assessors web-site under “In The News” then “View the Calculation for Your Property.”)
b) Senior Homeowners. $4000 (up from $3500)
c) Senior Freeze. Freezes assessed valuation to the prior year. Household income must be less than $55,000.
d) Several new exemptions have been added by the state.
– For Veterans:1) A new $5,000 one-time homeowners
exemption for returning Vets. Only available in the year in which they return. This is in addition to any other exemptions.
• If a Vet is disabled a new $2,500 homeowners exemption if they are 50% to 75% disabled, or $5,000 for veterans who are 100% disabled. (Note: If a Veteran chooses this option they would not be eligible for the following.)
• A new $2,000 homeowners exemption for disabled homeowners.
Besides Getting Most Possible Exemptions What Else Can be Done To Lower My Tax Bill?
Appeal the Assessed Value of Your Property
• Basically, appeals are filed if you believe your homes assessed valuation is out of line with similar homes in your neighborhood.
• To find comparable properties the Cook County Assessor’s web-site has an excellent program to help you get information on these properties - handouts with instructions are on the table .
Or…
• The Palatine Township Assessors office can do the
work for you – no charge
Let’s Hear from the
Cook County Assessor’s
OfficeAssessor Jim
Houlihan