Property Tax Appeal Property Tax Motigation Specialist
Chicago Reassessed in 2024
Services
Local governments periodically assess properties for taxing purposes. There is a chance that the assessed value of your property may have changed for various reasons, in between that time. In this case, your property may be worth less than its assessed value. With Property Tax Mitigation Specialists, LTD there is no risk in appealing your property taxes. If the County does not reduce your assessed value, then there is absolutely no charge.
Residential
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We have a team of analysts that compare the size, age, and construction of your home to similar homes in your neighborhood. We find those properties that are lower assessed than you and recalculate what your assessment should be based on a formula called "lack of uniformity" which the county uses to lower your assessment. PTMS’s clients have saved as much as $ 15,000 on residential appeals.
Was your property purchased within the past three years? There may be evidence to support an argument based on your purchase.
Commercial
Business owners are taxed from every direction as they try to turn a profit while faced with rising expenses and dwindling revenues. Property taxes can be one of the largest cost factors. PTMS’s clients have saved as much as $500,000 on Commercial appeals. Some appeal strategies are as follow:
* Market value/appraisal: Property Tax Mitigation Specialists, LTD will review the value of your property in the marketplace to ensure that the assessment is not excessive. This will include an analysis of comparable sales as well as rentals in comparable leased storefronts and retail spaces.
* Recent purchase/sales price: Is the assessment higher than the purchase price or is there support for an argument that the purchase price was too high?
* Income-producing properties: Retail/storefront buildings can be valued in the assessment process based on their income-producing capacity. Expenses and rent are major factors in our analysis of the property’s value. The use, condition and level of vacancy may also be factors.
* Construction costs: Based on prevailing costs, what is the value of your building newly built, minus depreciation?
Condominium/Townhouse Associations
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Condominium and Townhouse Boards should be vigorously contesting their property tax assessments, annually.
With the help of Property Tax Mitigation Services, LTD, assessing officials will consider evidence evidence of market value such as an arms-length sale price or an appraisal.