Diagram of a Tax Appeal

Was helping a new purchaser finish up with a few loose ends regarding his new home purchase in Hoffman Estates. Big problem - his taxes. Don't quite know what the previous owner did but it's a costly mistake. An absolute blunder! Taxes on this house are now $5809.07 for 2007. Before you say - well too bad this rich guy deserves those taxes - think again! Let me tell you that this is great ranch house in a 'regular Joe' subdivision in Hoffman Estates with 3BR 2 BA's, Familyroom addition with fireplace, 2 car garage, regular sized lot. The amazing thing is when you delve further into similar homes the injustice and inconsistencies with Cook County just kicks you right in the head!

So let's look at the comparable properties that I used all in the same subdivision:

#1 -  3 blocks away from subject - Ranch, 3BR 1.5BA, Familyroom addition, Fireplace, 2 Car Detached Garage. Taxes for 2007 = $3504.18
 Less $2304.89

#2 -  6 blocks away from subject - Ranch 3BR 1BA, Familyroom addition, Fireplace, 2 Car Detached Garage Taxes for 2007 = $3754.23
 Less $2054.84

#3 -  5 blocks away from subject - Ranch 3BR 1BA, Familyroom addition, Fireplace, 2 Car Detached Taxes for 2007 = $4287.56
 Less $1521.51

#4 -  3 blocks away from subject - Ranch 3BR 2BA, Familyroom addition, NO Fireplace, 3 Car Detached Taxes for 2007 = $3245.31
 Less $2563.76

So it's an easy choice, a 'no brainer' if you will. The new owner is going to file an appeal with either the Cook County Board of Review or with the Cook County Assessor. Either way, it's a good bet that you should file an appeal because you should only pay your due portion and absolutely nothing more!

The variances of tax amounts is what I'm trying to point out to you in this post. Virtually the same house, plus or minus 40 square feet or so and the tax range can be huge if you don't do anything about it.

I wanted to quote John Lawson at the Schaumburg Tax Assessors Office from the Town Crier Bulletin:

Other ways to be sure your taxes are as low as possible - Senior Exemptions! If you were born in 1943 or before, you are entitled to the senior exemptions. There are three exemptions that seniors may be eligible for: Homeowners Exemption, Senior Exemption and Senior Freeze.

Exemptions are deductions applied to your real estate tax bill, if you qualify. The exemptions are only applied ON THE SECOND INSTALLMENT of your property taxes every year. If you qualify and the exemptions were not applied, you can file a 'CERTIFICATE OF ERROR' to correct this error at the Schaumburg Township Assessors Office or the Chicago Assessor's Office.

In recap, we are filing on two different grounds:

Uniformity Appeal - the assessed valuation of your home is not in line with the assessed valuations of other homes, comparing your property to similar homes.

Over Evaluation Appeal - appeal if you believe the estimate of the property value is overvalued for any reason.

So this post will be marked 'to be continued'. But this gives you some guidelines and suggestions should you decide to appeal your taxes with Cook County.

And you thought Realtors only knew about real estate!

Easiest Strategy for Lowering your Property Taxes

Resources:  MRED MLS, Cook County Assessor, Cook County Treasurer, Town Crier October 2008 - "All names were changed to protect the innocent" and addresses were deleted but can be provided upon request.