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Appealing property tax assessments can pay off

A recent article in the Chicago Tribune pointed out that more than 80 percent of Cook County residents who appealed their property tax assessments reduced the amount of increases they were scheduled to receive.

In “Why it’s foolish not to appeal your property tax assessment,” the reporter found evidence of a 40 percent success rate in some counties around Chicago. Learn more about property taxes by using two resources available through this site.

The video “Learn how Illinois property taxes are assessed,” provides an easy-to-understand overview of property taxes. Learn about tax levies, how to check the accuracy of assessments and how exemptions can reduce assessments.

A brochure titled, “What you should know about property taxes in black and white (and a couple other colors),” provides most of the same explanations about property taxes, tax levies, fair market values, assessed values and more. Also included are links to numerous websites with background information: the Illinois Department of Revenue, the Illinois Property Tax Appeal Board and several county offices.