Lake County Real Estate Tax Appeal Time- Don't snooze or you will lose
Lake County,Illinois the real estate tax assessments (they used to be called blue cards) are mailed from the end of the summer to the middle of the November depending on the township you live. I live in Vernon Township and we are usually one of the last townships to receive the new real estate tax assessment.
Lake County residents have only 30 days after they receive their notice of assessment,(not 30 days after you receive your real estate bill),to file an appeal for that year. In other words, it is imperative at this time to act fast if your assessment was already mailed. Click here for the Lake County tax appeal deadlines
According to the Lake County Chief County Assessment Office, for the most part Lake County residents will see assessment valuations lower for 2010. However, this does not necessarily mean that the residents will see lower property taxes, ie.. the tax rate may ultimately be increased to compensate for the lower assessment values.
It is important to verify that your Lake County real estate property record card reflects accurate information when you receive the reassessment form. The number of baths, basement area, finished lower level, gross building area, garage type, etc. are important components of your total market value. If you find an error, contact your particular township to discuss these errors and if they agree with your findings, they will correct the property record card to reflect your changes.
If your Lake County property assessment card is already accurate, and you believe your assessment is too high, it is important to find 3 or more comparable properties from your neighborhood which are the most identical to your home. This is where I come in the picture. I as a Lake County Real Estate professional can help you find comps for your homes. The homes you choose should be the same style, i.e. ranch, split level, 2-story, etc. as your home; be of similar size and have similar amenities, such as bath count, fireplace, garage size, etc. Next, compare the assessments of these properties to yours to determine if you are equitably assessed. If it appears that your assessment is higher than the comparables, you may consider contesting or appealing your assessment. This appeal needs to be filed on the Lake County Forms. Also, if you have a recent appraisal or a Hud statement from a recent purchase, this information will be extremely helpful in the appeal process
If you want a lawyer to handle the assessment and the paperwork for you, they charge approximately 1/3 of the first years real estate tax savings. I have names of people to recommend if you would like to call or email me.
Just keep in mind that there are a lot of people out there to help you though this process. And at the end of the day, just remind yourself that the taxes we pay benefit our kids, our communites and our very way of life. It doesn't help pay the bill, but it will make you feel a lot better about writing the check.
Checkout this very informative Lake County video if you would like more information
The above was written by Judy Greenberg, Lake County Illinois- Real Estate Tax Appeal Protest time- Time is running out
If you would like more information about the Lake County Real Estate Market please do not hesitate to call me at 847-602-5435 or email me at info@buffalogrovehomes.com
My websites, www.movetolonggrove.com , www.buffalogroveareahomes.com, and www.vernonhills-homes-for-sale.com will provide you all the information regardless as to whether you are a potential buyer or seller.
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