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HOW TO FILE AN APPEAL WITH THE COOK COUNTY ASSESSOR Presented By: COOK COUNTY ASSESSORS OFFICE Hosted By: Terry Kelly, Township Assessor.

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Presentation on theme: "HOW TO FILE AN APPEAL WITH THE COOK COUNTY ASSESSOR Presented By: COOK COUNTY ASSESSORS OFFICE Hosted By: Terry Kelly, Township Assessor."— Presentation transcript:

1 HOW TO FILE AN APPEAL WITH THE COOK COUNTY ASSESSOR Presented By: COOK COUNTY ASSESSORS OFFICE Hosted By: Terry Kelly, Township Assessor

2 PLEASE TURN OFF ALL CELL PHONES Thanks!

3 Properties are reassessed every three years in Cook County 2010 is a reassessment year for Palatine Township residents Will shortly be receiving a notice of reassessment from Cook County Assessor This appeal will cover the: 2010 assessment 2010 assessment, which appears on 2011 property tax bills

4 WAIT!!! I just got a new tax bill in the mail and its too high. What can be done about that?

5 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

6 EXEMPTIONS

7 Did You Loose an Exemption? Change in your Property Title? For senior freeze need to apply each and every year PLEASE CALL THE TOWNSHIP ASSESORS OFFICE IF YOU BELIEVE THERE IS AN ERROR IN YOUR EXEMPTIONS

8 One area to look at for increase Reduction in Maximum Homeowners Exemptiondown to $20,000 (from $26,000) Multiply $20,000 times local rate-- (6.836% in Palatine School Dist. 15, Pal Park, etc) EQUALS $1, HOMEOWNERS EXEMPTION

9 Previous Year Calculation $26,000 X 6.974% = $1, (previous-2008) $20,000 X 6.836% = $1, (current-2009) Exemption $ Reduction

10 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. 1 st. The 7% Cap (extended homeowners exemption) allows for the following maximum deductions $20, $30, $26, $20, a)(Good explanation of this on the Cook County Assessors web-site under In The News then View the Calculation for Your Property.)

11 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.

12 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.

13 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.

14 Besides Getting Most Possible Exemptions What Else Can be Done To Lower My Tax Bill? Appeal the Assessed Value of Your Property

15 Basically, appeals are filed if you believe your homes assessed valuation is out of line with similar homes in your neighborhood.

16 To find comparable properties the Cook County Assessors web-site has an excellent program to help you get information on these properties - handouts with instructions are on the table.

17 Or… The Palatine Township Assessors office can do the work for you – no charge

18 Lets Hear from the Cook County Assessors Office Assessor Jim Houlihan


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