Illinois Reassessment
While it might not pack the same punch as it does in Cook County, reassessment in the rest of Illinois can have a large impact on Illinois properties and taxpayers’ wallets. The assessor will closely evaluate every home and business in the state, which usually results in large increases in property values. Like the rest of Illinois, Geneva Township will see reassessment in 2027. Taxes can still increase, even without reassessment. They did so in 2025, with home values jumping 9% and businesses adding 7% to their market values, along with tax rate increases. Changes in the equalization factor can also result in stark differences between years.
How Property Taxes Can be Lowered
Illinois has the highest property taxes in the nation, but there are several ways in which they can be lowered. These methods do not lower tax rates or the equalization factor. They do, however, reduce the property values that tax rates are applied to. Property values in Illinois begin with the market value, which is what the assessor believes a piece of real estate will sell for based on the past three years of sales. This is then multiplied by the assessment ratio, which is 33.3% of market value. This is finally multiplied by the equalization factor to create the equalized assessed value (EAV), which is what tax rates are applied to. Property tax reduction methods usually target market value or EAV.
Exemptions:
Exemptions are applied to EAV before tax rates are, which is why they can have such a large impact on tax bills. Exemptions should be used to their fullest extent, and property owners have many options. For homeowners, this starts with the homestead exemption, which lowers EAV by $8,000. This can further be enhanced by exemptions such as for seniors, people with disabilities, or veterans.
Property Tax Appeals:
These usually work to reduce the market value and are direct challenges to the values assigned by the assessor. These challenges are based on grounds, such as overassessment or lack of uniformity, and must be backed by evidence to get a reduction. Unlike exemptions, these can benefit all types of properties, including rental properties or businesses.
Geneva Township Property Tax Appeals
Property Tax Appeals are becoming a necessity across Illinois, especially in Chicago and the collar counties that surround it. The values placed on homes or businesses are often achieved through mass appraisal techniques and can be inaccurate. As these values also depend on sales studies, they often do not reflect the current market, leaving taxpayers to pay for a boom period that no longer exists. Appeals can narrow things down to the true and fair value of a home or business. They also work well with exemptions, since they lower market value, while exemptions then bring down the EAV.
Unlike Cook County, taxpayers in Kane County and Geneva Township only have one deadline for appeals. While they can ask their assessor for a reduction, there is no official mechanism to appeal to the assessor, unlike Cook County. Instead, all appeals must go to the Board of Review (BOR), an independent arbiter that makes decisions based solely on evidence. The major downside is that there is only one chance to file an appeal and a taxpayer will forfeit the right to protest if they miss that date.
June 1, 2026: First installment of property taxes due
August 17, 2026: Deadline to file appeals with the BOR
September 1, 2026: Second installment of property taxes due
O’Connor Helps Appeals by Providing Evidence
In order for any appeal in Illinois to be successful, it needs to be backed by evidence. What evidence is required is dictated by the grounds that the taxpayer chooses to use. If they believe that their property is overassessed, which is when their home or business is assessed higher than it is worth, then they will need to provide sales records of other properties dating back three years. If, instead, they believe that they are unfairly assessed compared to neighboring properties, then the taxpayer must gather assessments. No matter the grounds or evidence type, these comparable properties must be in the same location, of a similar age, and be of similar size.
O’Connor provides support for this crucial step. We use our more than 50 years of experience in property tax solutions to find the perfect evidence. This starts by using data-driven techniques to study assessments, looking for any issues. We then use our proprietary databases to locate the best comparable properties possible. We organize these into professional portfolios, which have all the analysis and evidence needed. We then coordinate an appeal with a law firm that has extensive experience in property tax matters. Our clients pay nothing up front, and we only charge if our clients’ taxes are lowered.
