Property Tax Appeal Property Tax Motigation Specialist
Chicago Reassessed in 2024
1. What is a property tax appeal?
When you appeal your property taxes, you are appealing the assessed valuation of your property as determined by the Assessor’s office. PTMS uses state-of-the-art technology to ensure the greatest reduction.
​
2. How are my taxes calculated?
The Cook County Assessor is responsible for determining the first part of the equation to calculate your property taxes by determining a Market Value for your property. PTMS has a 90% success rate in lowering assessed valuation. The second part, tax rates are decided by municipalities and local taxing bodies such as school districts, fire districts and park districts. See More
3. How does the Assessor’s Office determine the value of my house?
The value of your house is based on the recent sales of properties in your neighborhood that have similar characteristics to your home; age, square footage and type of construction.
4. How can I file an appeal??
You can file on-line when your township is open for appeals. However, this may not give homeowners the greatest reduction. Homeowners may not be able to find the lowest comparable properties using the correct property characteristics acceptable to the Cook County Assessor. You may also miss important deadlines.
PTMS will guarantee we find the lowest comparable properties for the greatest reduction using state-of-the-art technology. We will review your assessed valuation every year and not miss important deadlines.
5. When can I file an appeal?
You will receive an assessment notice in the mail when the Assessor’s Office reassesses your home every three years. Also, you may appeal your assessed valuation every year during the period when your property’s township is open for appeals. PTMS will automatically review your property every year to see if an appeal can be filed. See Schedule.
​
6. Are property tax appeals time sensitive?
Yes! Once your notice is mailed, you have approximately 30 days to file an appeal.
​
7. What do I need to appeal?
Any and all evidence you wish the Assessor to consider, depending upon whether the type of property being appealed is Residential, Commercial or Industrial in nature.
​
8. Can I file an appeal with the Board of Review even if I have received a reduction with the Assessor’s office?
Yes. The Board is not bound by the final determination of the Assessor. You are at no disadvantage if the Assessor has granted or denied a request to reduce the assessment.
​
9. Why did my assessment go up?
Each triennial district (City of Chicago Townships, North Cook County Townships and South Cook County Townships) must be reassessed every three years. In a triennial year, your assessment is updated to reflect value over the past three years due to the general re-evaluation. In other years, the assessment may have changed due to an increase in occupancy, new construction or other factors as determined by the Cook County Assessor.
​
10. Will I receive a refund if I get a reduction?
An assessment reduction is likely to result in a tax bill lower than it otherwise would be without the reduction. However, due to other factors including exemption, local tax levies and tax rates, it is still possible for your total tax bill to be higher than the previous year.
​
11. Should I wait to pay my taxes until I receive a decision from the Board of Review?
No. The first installment is, by law, 55% of the previous year’s total bill and is always due on March 1st. The second installment cannot be calculated until the Board of Review has concluded its review of every appeal for all 38 townships of Cook County for that particular tax year. The second installment tax bill will not be issued until after your decision from the Board of Review has been received.
​
12. If I elect to retain the services of PTMS, what items above will be different than if I filed everything myself?
-
PTMS will accomplish proper filings and where necessary, appear on your behalf within the allotted time frames
-
You will have no upfront fees and PTMS is only compensated when successful
-
PTMS retains just 33% of the tax savings obtained in your behalf which is a 17% savings from what most other tax service firms charge
13. How do I get started with PTMS?
Contact PTMS at: info@taxmitigationservices.com or call 312.696.1990 or Fax 312.696.4222
​
There are a few forms to sign so that PTMS may act on your behalf. PTMS will then give you regular updates via your preferred communication method(s).
​
For More Information on Tax Appeals in Cook County go to:
http://www.cookcountyassessor.com/Resources/Frequently-Asked-Questions.aspx
​
​
​
​
Details about Paying Taxes
Property owners who do not have mortgage companies paying their taxes can make tax payments in person, by mail, or online at the Cook County Treasurer’s web site, www.cookcountytreasurer.com.
Those wishing to pay in person can do so at the Cook County Treasurer’s downtown office at 118 N. Clark Street and at any Chase Bank in the Chicago area. For questions regarding paying your property tax bill, please call the Cook County Treasurer’s Office at 312.443.5100.
​