The McHenry County Supervisor of Assessments reports there were 2,632 real estate tax assessment appeals on tax bills to be paid this year.
That’s down from10,413 in bills paid in 2013.
The McHenry County Supervisor of Assessments reports there were 2,632 real estate tax assessment appeals on tax bills to be paid this year.
That’s down from10,413 in bills paid in 2013.
Due to the three-year averaging rule used by Assessors by law.
When we had the real estate ‘crash’, assessors had to wait three years to bring your assessment in line with reality UNLESS you appealed – hence many appeals.
When real estate values are relatively flat, no reason to appeal.
What would be interesting is to have a break down of property types appealed (residential, commercial, industrial, vacant etc.).
Why does Cook County have different rules for Assessments?
Here is a recent excerpt from a State published item:
“A Cook County ordinance requires that residential property (homes, condominiums, apartment buildings of six units or less) be assessed at 10 percent of market value; all other residential property (apartments with more than six units), 10 percent; vacant lots, 10 percent; property owned by not-for-profit corporations, 25 percent; commercial property, 25 percent; industrial property, 25 percent; and commercial or industrial property being developed in economically deprived areas, usually 10 percent.”
https://www2.illinois.gov/rev/research/news/Pages/2018-Cook-County-Tentative-Multiplier-Announced.aspx
Nunda is the worst!
The township assessor is mathematically challenged.