Why it pays to appeal your property assessment

If you’re sure your property is worth less than the assessor says it is, you might want to contest it. You might not be lucky the first time around, but don’t lose heart – Joe Konecny of Lombard finally which struck a deal, after several years of appeals — that reduced his taxes on his property by almost 20%.

Odds are, you’re not in a position to save¬†quite¬†that much. But it’s a helpful reminder nonetheless.

So: What are your options if you think you’re overassessed? It depends on timing.

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Just bought your house? Check your property taxes and assessment!

So you’ve just closed on your dream house, and you have a lot of things going on. Do yourself a favor and add one more item to the list: Check your property taxes and assessment. It won’t take that long, and could save you a ton of money in the long run!

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Why the Surge in Property Tax Appeals?

The property market continues to sink, the economy has all but stalled, and yet property taxes keep rising. Many homeowners who have never given their property assessment a second look are now appealing their property assessments – and many are winning! The result? Hundreds, sometimes thousands off their annual property tax bills! Others are shocked to find glaring holes in their homeowners exemptions.

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Homeowners Exemptions – Snooze and you Lose

Property taxes are a significant cost for homeowners. Many are now appealing their property assessments. A lot of homeowners though, especially seniors, are not receiving the property tax exemptions they deserve.

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Property Taxes are up. Again.

Property values fell yet again, but property taxes are going up! The following table lists the 2011 Tax Rate Increases that homeowners can expect. Not a pretty sight.

DuPage, IL Township 2011 Tax Rate Increase
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Downers Grove (Hinsdale etc)(PIN prefix 09) 10.65%
Downers Grove (Hinsdale etc)
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