Take a look at the following part of the Illinois Revenue Act concerning natural disasters:
(35 ILCS 200/13-5)
Sec. 13-5. Reassessment in disaster areas.
In every county which has been declared a major disaster area by the President of the United States or the Governor of the State of Illinois, the chief county assessment officer, board of review or board of appeals shall, upon application by the property owner, make a reassessment of any taxable property in the county which was substantially damaged by the disaster.
The Department shall advise with the chief county assessment officers, boards of review or boards of appeals of the several counties involved in connection with such reassessment.
In the reassessment, the value of the property shall be determined as of the date of the declaration of the county as a major disaster area.
If the value of any property on that date is, by reason of the disaster, less than the prior assessment, the assessment for that year shall be arrived at by dividing by 365 the sum of the 2 products obtained
(a) by multiplying the prior assessment by the number of days from January 1 of that year to the date of the declaration and
(b) by multiplying the value of the property as of the date of the declaration by the number of days from the date of the declaration to December 31 of that year.
If the reassessment and computations occur prior to the adjournment of the current board of review or board of appeals, the assessment of the property shall be reduced accordingly. If the board of review or board of appeals has adjourned at the time of the declaration, the Department shall convene the board of review or board of appeals to make the reassessment of property applied for after that adjournment.
(Source: P.A. 83-121; 88-455.)
The form to apply is below:
Flood real estate relief form to be filed with the McHenry County Supervisor of Assessments.
Questions may be directed to the McHenry County Supervisor of Assessments Officer or one’s township assessor.
The form on the Supervisor of Assessments web site can be found here.
The phone number of the Supervisor of Assessments Office is 815-334-4290.
Homeowners who do not obtain lowered assessments will see their own property tax spike as a result.
The “spike” will be infinitesimal.
Get real!
Susan is a doomsdayer
And Jim and Fred look to be two knuckleheads that are NOT paying attention.
No matter as many of those affected will no longer be able to
afford their increased home owners insurance, mortgages, replace all damaged/destroyed properties and
household items and pay their insane property taxes.
The Great Exodus from Illinois will continue …..
Three floods in the last 9 years.
Long time river owners know the game by now.
River front is still premium property, they aren’t making it as of recently.
Pay to play, better most of the time not to have to trailer your toys.
A start of a good boating season requires you putting your whole paycheck in ca$h in your wallet, walk out to the end of your pier, and throw it.
Once again, nob is an idiot. Making fun of people that may have been clueless is really low. (It smacks of superior attirude “They should have known better” claptrap.) I’d like to see your cavalier attitude when you have raw sewage floating in your house and yard. If you can’t add anything of worth, you should at least be on your knees thanking God that He spared you their fate.
Cindy I lived on the river and that joke was well known as was the fact the river floods regularly.
Be a good Gadfly and buzz off.
Go tell your jokes to the peole that have no home right now. I’m sure they will think you are a laugh a minute. (And I don’t think they would use the word buzz with off.)
My comment was about river property, not Lakewood property.
How many river properties are not useable?
Your moving wings block your vision.