The Illinois Property Tax Code provides three levels of assessment review to challenge taxpayers’ assessed fair market values and excessive real estate taxes.  A taxpayer can appeal to the Cook County Assessor’s Office (the first level of appeal), the Cook County Board of Review (the second level of appeal) and can choose a third and […]
Continue Reading Legislative Activists are Seeking to Abolish Cook County Taxpayers from Filing Property Tax Appeals at the Property Tax Appeal Board

Real estate tax assessments are an important part of a home’s value and can affect a buyer’s decision to purchase a particular property.  Among some of the important considerations real estate professionals should have about a property’s real estate tax assessment are: 1. Tax assessment vs. market value: A property’s real estate tax assessment may […]
Continue Reading Important Things Every Real Estate Professional Should Know About a Prospective Property’s Real Estate Assessment

Introduction: Two new BIPA Cases
Two Illinois Supreme Court decisions recently released,  Tims v. Black Horse Carriers, Inc., 2023 IL 127801 and Cothron v. White Castle Sys., Inc., 2023 IL 128004, have clarified the statute of limitations and the actionable number of violations for suits under the Illinois Biometric Information Privacy Act, 740 ILCS 14/1 ff. (BIPA) This article describes the holdings and suggests ways to limit liability exposure which may result from the BIPA.
 
In Tims v. Black Horse Carriers, Inc., 2023 IL 127801, the Court held that the five year statute of limitations in 735 ILCS 5/13-205
Continue Reading New Illinois Supreme Court Decisions Clarify Biometric Information Privacy Act

Cook County property owners received their first installment 2022 tax bills in the mail this weekend.  For many property owners, particularly those who own properties located in Chicago which was reassessed in 2021, their first installment 2022 tax bill was higher than in prior years because of dramatic increases to their property values that were […]
Continue Reading Cook County Assessor Kaegi Fails to Uphold Previous Cook County Board of Review Assessment Reductions Granted Last Year

At the end of 2022, the Illinois legislature enacted a new provision which moved the payment deadline for the 2022 first installment payment from March 3, 2023 to April 3, 2023.  This amendment to the Illinois Property Tax Code Section 35 ILCS 200/21-25 was made in part as an accommodation to the 2021 second instalment […]
Continue Reading First Installment 2022 Real Estate Taxes Due on April 3, 2023

Cook County Treasurer Maria Pappas announced that the second installment 2021 real estate tax bills will be posted on the Cook County Treasurer’s website (www.cookcountytreasurer.com) next Tuesday or Wednesday, November 14th or 15th.  Taxpayers will be able to download their tax bill to print and mail their payment in, pay online at the Treasurer’s website, […]
Continue Reading Second Installment 2021 Property Tax Bills Due on December 30, 2022

The Illinois Department of Revenue (IDOR) finalized the 2021 Cook County Equalization Factor of 3.0027 on Tuesday, October 18, 2022.  Since Cook County is the only County in the State of Illinois that “classifies” and thereby “assesses” different types of properties based on their use, the IDOR is required to configure and implement an annual […]
Continue Reading 2021 Cook County Equalization Factor Finalized

2022 marks the triennial assessment year for all of the north and northwestern townships of Cook County.  Through the first nine reassessment townships, Assessor Fritz Kaegi continues to increase assessments for commercial, industrial and multi-family residential properties at much higher rates than residential property owners.  This trend began during Assessor Kaegi’s first reassessment in 2019 […]
Continue Reading Cook County Assessor Raise Valuations of Commercial, Industrial and Multi-Family Properties Substantially More Than Residential Properties

The Illinois Department of Revenue announced a tentative 2021 Cook County Equalization Factor on June 14, 2022.  The tentative Cook County Equalization Factor of 2.7297 was announced much later this year than in previous years.  For example, the 2020 tentative Equalization Factor which was announced on January 25, 2021.  This later release was representative of […]
Continue Reading Tentative 2021 Cook County Equalization Factor Set

The Cook County Treasurer Maria Pappas has publicly stated that she expects the second installment 2020 real estate tax bill to be due on October 1, 2021.  Ms. Pappas anticipates that the bills will go out in August so that they are received by Cook County taxpayers at least 30 days before the October 1, […]
Continue Reading 2020 Second Installment Cook County Real Estate Tax Bills Are Expected To Be Due On October 1, 2021

Every three (3) years, the City of Chicago is reassessed by the Cook County Assessor.  When that occurs, the Assessor reviews data from sales transactions within the City proper and looks towards “trends” in the real estate market on a more “macro” level of review.  There are eight (8) total Townships within the City which […]
Continue Reading City of Chicago Reassessment Begins With Significant Assessment Increases in Rogers Park

Due to delays in the finalization of Cook County Board of Review tax appeals and certification of final assessments, Cook County property owners will most likely get more time to pay their 2020 second installment property tax bills.  The current due date for the 2020 second installment of property tax payments is August 2nd, but […]
Continue Reading Second Installment 2020 Property Taxes For Cook County Taxpayers Will Most Likely Be Delayed

The Illinois Department of Revenue announced a tentative 2020 Cook County Equalization Factor of 3.0861 on January 26, 2021.  Every year, the Illinois Department of Revenue is legally required to calculate the equalization factor to achieve uniform property assessments throughout the state. The Cook County Equalization Factor or multiplier is a 5.51% increase from the […]
Continue Reading Tentative 2020 Cook County Equalization Factor Set

The Cook County Board of Commissioners in November 2020 waived the 1.5 percent late fee, for two months, on all Tax Year 2020 property taxes.  As a result, Cook County Taxpayers can pay the first installment which is due on March 2, 2021, through May 3, 2021, without incurring a late fee.  Late fees will […]
Continue Reading Cook County Board of Commissioners Waived Penalties and Interest for 2020 First Installment Tax Bill For Two Months or Until May 3, 2021