Q1. How will lowering my assessed value lower my property taxes?
Answer:
The assessed value of your home is one of the main components used to determine the amount of property taxes that you owe. The higher your assessed value, the larger your tax bill will be. By reducing your assessment, the amount of taxes that you pay will be less than if you had not successfully appealed. There are other factors that control your tax bill such as the tax rate. This number is set by the taxing bodies and can change every year. Tax Appeals Lake County helps you appeal your assessed value; not your tax bill, however a successful tax appeal will reduce the amount of taxes you will pay compared to not lowering your property assessment.
Q2. How often can I appeal?
Answer:
You can appeal every year. Tax Appeals Lake County will review your assessment to see if an appeal is warranted. If you missed your deadline this year, you can sign up for next year so you will not miss another chance to appeal. Once you sign up, we are in charge of deadlines. No need for you to worry!
Q3. How much does Tax Appeals Lake County charge?
Answer:
To review your property assessment, Tax Appeals Lake County charges a fee of only $35.00. The fee for a successful tax appeal is 35% of your first year’s savings. The first year’s savings is figured by the difference between the 2024 pre-appeal assessed value and the new 2024 assessed value multiplied by the 2023 tax rate. If we are not successful at lowering your assessed value, then you pay nothing more. No additional upfront fees will be added; no filing fees, no appraisal fees, no retainer, no attorney fees.
Q4. Is my property currently over-assessed? Should I have my assessment reviewed?
Answer:
Tax Appeals Lake County recommends a property assessment review be completed every tax year in Lake, Mchenry and Dupage counties where your property could be reassessed yearly by the assessor. This will confirm that you are not being unfairly assessed and paying more than you need to in property taxes. Other reasons to have your property assessment reviewed include:
Recent purchase of your property.
Recent home improvement project.
Sales of similar homes in your area selling for less than you are assessed.
Q5. What is a General Assessment year and how does it affect my property assessment?
Answer:
In a General Assessment year by law, each property in Lake, McHenry and Dupage Counties other than farmland, must be viewed, inspected, and revalued once every four years. This is called a General Assessment Year. The local assessor wipes the slate clean and reassigns your property a new assessment amount. All decisions made by the Board of Review and The Property Tax Appeal Board are reset at this time. Between these General Assessments, assessors may revalue property if it’s value is incorrect.
Q6. Why should I use Tax Appeals Lake County? Can I appeal on my own?
Answer:
Yes, you can appeal your own assessment. However, the key to a winning a tax appeal is by researching and evaluating the evidence available and choosing the best data to build the strongest case. Our many years of experience has given our professional tax appeal team the skills to successfully build and win appeal cases. We handle all aspects of the long and tedious tax appeal process from research and building the tax appeal case to representation. Once you sign up we take it from there. No deadlines to worry about, no hearings to attend. We have an A+ rating with the Better Business Bureau.
Q7. What is the best way to contact Tax Appeals Lake County?
Answer:
The best way to reach us is by e-mail at info@taxappealslakecounty.com or you can call us at 847-438-7200 between 8:30am and 5:00pm Monday-Friday.