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As a property owner, you may wonder why I often recommend obtaining an appraisal when considering a real estate tax appeal for your owner-occupied property. This is particularly important if you operate a business from the property. Here are three compelling reasons why securing an appraisal is essential for a successful tax appeal. 1. Compliance […]
Continue Reading Why Property Owners Should Invest in an Appraisal for Property Tax Appeals

In 2024, southern townships of Cook County have been hit with the most significant property tax increases in nearly three decades.  The second installment of the 2023 real estate tax bills, due on August 1, 2024, showed a median increase of almost 20%, with some areas experiencing hikes exceeding 30%.  These soaring taxes could force […]
Continue Reading South Suburban Properties Struggle With Effects of Significantly Higher Property Tax Increases

The 2023 second installment tax bills are now available on the Cook County Treasurer’s website (www.cookcountytreasurer.com), click on payment details (purple box), type in your property’s Permanent Index Number and then click on the link to the second installment 2023 tax bill.  The tax bills became available on-line on the Treasurer’s website on Monday, June […]
Continue Reading 2023 Second Installment Tax Bills Issue on Monday, 6/24/24

The Illinois Department of Revenue has released its final 2023 Cook County equalization factor of 3.0163.  This equalization factor is 3.17% higher than the 2022 Cook County equalization factor of 2.9237.  The final 2023 Cook County equalization factor is 6.16% higher than the tentative 2023 Cook County equalization factor that was previously released at the […]
Continue Reading 2023 Cook County Final Multiplier or Equalization Factor Set

2024 is a triennial reassessment year for all properties located in Chicago.  As a result of this reassessment, all properties located in Chicago will be revalued and reassessed in 2024.  Already, the 2024 assessments for properties located in Rogers Park Township have issued and the assessments for West Chicago Township will issue in late May […]
Continue Reading Cook County Assessor Kaegi downplays downtown commercial property’s financial issues

On Tuesday, March 19, 2024, Larry Rogers, Jr. convincingly won his sixth term as Cook County Board of Review Commissioner.  Rogers represents the city’s south side and the southern suburbs of Cook County. Rogers beat his challenger Larecia Tucker 62% to 38%.  Cook County Assessor Fritz Kaegi contributed $680,000 of his own money to fund […]
Continue Reading Cook County Commissioner Larry Rogers wins a 6th term as Commissioner at the Cook County Board of Review

On Wednesday, March 13th, the Illinois Supreme Court denied the appeal petition by the Building Owners and Managers Association of Chicago (BOMA) to overturn the Appellate Court’s ruling to allow the transfer tax referendum on the March 19 primary ballot.  The Illinois Supreme Court did not overturn the Illinois Appellate Court who stated in their […]
Continue Reading Illinois Supreme Court allows the new Transfer Tax Referendum to remain on the March 19 primary

In the intricate landscape of urban governance, tax policies often serve as a battleground where competing interests clash, and Chicago is no exception.  Recently, Mayor Brandon Johnson’s proposal to increase taxes on real estate transactions exceeding $1 million sent shockwaves through the city’s political and economic spheres.  However, this ambitious plan faced a significant setback […]
Continue Reading The Complex Dynamics of Taxation: Exploring Chicago Mayor Brandon Johnson’s “Mansion Tax”

The Illinois Department of Revenue announced a tentative 2023 Cook County Equalization Factor of 2.8414 on February 8, 2024.  This tentative 2023 Cook County Equalization Factor is 2.81% lower than the 2022 Cook County Equalization Factor of 2.9237.  Every year, the Illinois Department of Revenue is legally required to calculate the equalization factor to achieve […]
Continue Reading 2023 Cook County Tentative Multiplier or Equalization Factor Set

The Cook County Board of Review heard a property tax appeal involving the Chicago Bears’ former Arlington International Racecourse this Tuesday, February 6, 2024.  Cook County Commissioner Samantha Steele was reported to state that a decision on this appeal will issue by the end of this February.  Their decision will have an effect on whether […]
Continue Reading Cook County Board of Review Decision for the Chicago Bear’s Former Arlington International Racecourse Expected to Occur by End of February, 2024

If you’re wondering what some legislators are proposing in the Illinois General Assembly for the current legislative session, they’re proposing legislation for statewide property tax reform. On Wednesday, February 7th, state representatives hailing from Geneva and Mokena, along with a former representative from Plainfield, unveiled their proposed plan. HB 4866 would attempt to make school […]
Continue Reading Potential Property Tax Legislation To Level The Playing Field Between Communities

The 2023 first installment bills have issued and will be due on Friday, March 1, 2024.  If you have not received your first installment 2023 tax bill, you can go on the Cook County Treasurer’s website – www.cookcountytreasurer.com, click on Payment Details (purple box) and type in your Permanent Index Number and click “First Installment […]
Continue Reading Cook County 2023 First Installment Tax Bills are Scheduled to be Due on March 1, 2023

Last Friday, in the case Arlington Heights Police Pension Fund v. Pritzker (2024 IL 129471), the Illinois Supreme Court upheld a 2019 statutory law which consolidated 649 individual pension funds into just two.  It was a unanimous decision by the Court allowing consolidation into two pension funds so as to more easily and at less […]
Continue Reading Illinois Supreme Court Upholds Law Allowing Consolidation of Police and Firefighter Pension Funds

The Thompson Center was sold in the summer of 2022 for $105 million.  Since the subject property was owned by the State of Illinois prior to this sale, it was a property tax “exempt” entity, not subject to real estate taxation for tax years preceding the sale.  Once the property sold to a “non-exempt” joint […]
Continue Reading Thompson Center Assessed Much Higher than Recent Purchase Price

On December 8, 2023, Governor J.B. Pritzker signed into law Senate Bill 1988 which became law as Public Act 103-0583.  The legislation, which is taxpayer friendly, makes it mandatory for the County Assessor to accept tax appeals from Taxpayers for a period of not less than 30 business days from the later of: 1) the […]
Continue Reading Passage of Senate Bill #1988 Requires the Assessor To Accept Tax Appeals For At Least 30 Buisness Days From Issuance of Assessment Notices