Have you ever wondered about property taxes? How much do the neighbors pay? How can my mom get a senior exemption? What is the best way to appeal my taxes? This month, I interviewed my husband, Knute’s, cousin, Chrisse Petrov, who works for Taxbloom in Chicago to find out the answers for you. While you can appeal taxes yourself, in our experience, it works out better if you use a professional.
- Technically, you can appeal your taxes every year in Cook County if there is a basis. However, it is every three years that your property gets reassessed and that is the best time to have your taxes analyzed and file the appeal. There is window of about one month in which to file. The county posts a list of the dates as they become available. The deadline dates may vary from year to year.
- You have to be 65 years old to apply for the senior citizen’s tax exemption and you must apply for it in January after you purchase the home. Then the county will send out the forms every year, once it has been established that homeowner is a senior citizen.
- In addition, senior citizens can also apply for a Senior Freeze Exemption if their income is under $65,000.
- Taxbloom also files appeals in Lake County. They have different deadlines and require different forms.
- There is a formula for the exemption amounts: It is the tax rate x $10,000 for the homeowners’ exemption and the tax rate x $8,000 to get the senior citizen exemption amount. Each township has its own tax, which may change yearly and can be found on the tax bill.
Did you know that you can file for up to four years of missed tax exemptions?Email me now at jaxelson@axelsonrealty.com to find out what anyone in the Chicago area is paying in property taxes and to see what exemptions they have (including yourself, of course). Also, keep in mind that
I help buyers and renters for free.
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