HOW TO FILE AN APPEAL WITH THE

COOK COUNTY ASSESSOR

Presented By: COOK COUNTY ASSESSOR’S

OFFICE

Hosted By:

Terry Kelly, Township Assessor

PLEASE TURN OFF ALL CELL PHONES

Thanks!

Properties are reassessed every three years in Cook County

2010 is a reassessment year for Palatine

Township residentsWill shortly be receiving a notice of

reassessment from Cook County Assessor

This appeal will cover the:

2010 assessment2010 assessment, which appears on

2011 property tax bills2011 property tax bills

WAIT!!!

“I just got a new tax bill in the mail and it’s too high. What can be done about that?”

CHECK YOUR EXEMPTIONS• Homeowners• Senior Citizen• Senior Freeze• Long-Time Home Owner

Also, do you qualify for any of these: Disabled Person Disabled Veteran Returning Veteran

EXEMPTIONS

Did You Loose an Exemption?

• Change in your Property Title?

• For senior freeze need to apply each and every year

• PLEASE CALL THE TOWNSHIP ASSESOR’S OFFICE IF YOU BELIEVE THERE IS AN ERROR IN YOUR EXEMPTIONS

847-358-6700847-358-6700

One area to look at for increase

Reduction in Maximum Homeowners

Exemption—down to $20,000 (from $26,000)

Multiply $20,000 times local rate-- (6.836% in Palatine School Dist. 15, Pal Park, etc)

EQUALS$1,367.20 HOMEOWNERS EXEMPTION

Previous Year Calculation

$26,000 X 6.974% = $1,813.24 (previous-2008)

$20,000 X 6.836% = $1,367.20 (current-2009)

Exemption $446.04

Reduction

You want to make sure you are receiving each and every exemption you are entitled to. Exemptions are:

a) Homeowners. You receive this if your property has been your residence as of Jan. 1st. The 7% Cap (extended homeowners exemption) allows for the following maximum deductions

$20,000 2006$30,000 2007$26,000 2008$20,000 2009

a) (Good explanation of this on the Cook County Assessors web-site under “In The News” then “View the Calculation for Your Property.”)

b) Senior Homeowners. $4000 (up from $3500)

c) Senior Freeze. Freezes assessed valuation to the prior year. Household income must be less than $55,000.

d) Several new exemptions have been added by the state.

– For Veterans:1) A new $5,000 one-time homeowners

exemption for returning Vets. Only available in the year in which they return. This is in addition to any other exemptions.

• If a Vet is disabled a new $2,500 homeowners exemption if they are 50% to 75% disabled, or $5,000 for veterans who are 100% disabled. (Note: If a Veteran chooses this option they would not be eligible for the following.)

• A new $2,000 homeowners exemption for disabled homeowners.

Besides Getting Most Possible Exemptions What Else Can be Done To Lower My Tax Bill?

Appeal the Assessed Value of Your Property

• Basically, appeals are filed if you believe your homes assessed valuation is out of line with similar homes in your neighborhood.

• To find comparable properties the Cook County Assessor’s web-site has an excellent program to help you get information on these properties - handouts with instructions are on the table .

Or…

• The Palatine Township Assessors office can do the

work for you – no charge

Let’s Hear from the

Cook County Assessor’s

OfficeAssessor Jim

Houlihan