As reported in Education Week, the U.S. Supreme Court has denied a petition to hear an appeal brought by Cook County Treasurer’s office, the Assessor’s office and others challenging a 7th Circuit decision allowing Illinois...more
The Illinois Appellate Court recently issued two decisions involving property tax assessments, each being noteworthy for a different reason. One is noteworthy because it focuses on the longstanding legal principle that a...more
Last week, the General Assembly adopted legislation that attempts to clarify the power of county boards to waive all or a portion of the interest penalty of 1.5% per month that is normally applied to late property tax...more
5/28/2020
/ General Assembly ,
Interest Rates ,
Legislative Agendas ,
Penalties ,
Property Owners ,
Property Tax ,
Property Valuation ,
Real Estate Market ,
State and Local Government ,
Tax Assessment ,
Waivers
Earlier today the Cook County Board of Commissioners approved an ordinance declaring that no interest will accrue on the second installment of 2019 taxes, due on August 3, 2020, provided the taxes are paid on or before...more
This week Cook County Board President Toni Preckwinkle announced that the County Board of Commissioners will be considering an ordinance at their May 21st meeting to waive penalty interest for 60 days following the August 2nd...more
In yet another change brought about by COVID-19, the Cook County Board of Review is now providing notice of new Property Tax Appeal Board (PTAB) appeals by electronic mail. ...more
Last week, Cook County Assessor Fritz Kaegi announced a temporary suspension of reassessment notices and filing deadlines. This follows the Assessor’s closing his office to the public on March 13, 2020 in light of the growing...more
Recently, The Civic Federation, a government research organization, released a report of the Property Tax Appeal Board that details the history of the PTAB backlog of appeals, extrapolates data from the last fifteen years,...more
Last week a lawsuit was filed in the U.S. District Court for the Northern District of Illinois by a group of seven Cook County taxpayers challenging the time it has taken to adjudicate their claims in the Cook County Circuit...more
Illinois Courts are currently examining several different aspects of property tax exemptions, all of which impact the revenues of school districts and other units of local government. Most notably, the Illinois Supreme Court...more
10/26/2017
/ Appeals ,
Assisted Living Facilities (ALFs) ,
Healthcare Facilities ,
Homestead Exemption ,
Hospitals ,
Local Revenues ,
Property Tax ,
Real Estate Market ,
School Districts ,
Tax Assessment ,
Tax Exemptions
This week the Chicago Tribune published a three-part series of investigative reporting on the Cook County property tax system and the appeals process entitled “The Tax Divide”. Tribune reporters are examining 1) how the tax...more
For the first time in seven years, the trend line for assessed value in Cook County is pointing up. Beginning with the 2008 assessment year when we began tracking this data, assessed values have steadily, sometimes...more
With property tax levy season in full swing, assessed values and new property values are of major importance to board members and finance officials. For the seventh year we have obtained and analyzed Cook County assessment...more
Yesterday the Cook County Clerk’s Office released the tax rates that will be used for the 2014 tax bills. Again this year, Cook County tax bills will go out on time. Tax bills are expected to be issued on July 1 with a due...more