West Deerfield Township Faces Reassessment in 2027
The value of property in Illinois is determined by how much it will sell for on the open market. The assessor calculates this market value by studying property sales from the past three years. While values, tax rates, and the equalization factor all move taxes upward, values truly spike during reassessment. This is when the assessor looks at every piece of real estate in West Deerfield Township and applies market forces as accurately as possible. The next reassessment is set for 2027, and with the high property values throughout the township, these numbers could explode in 2027. This makes securing accurate property values in 2026 an even larger priority than usual.
How to Lower Property Taxes in West Deerfield Township
There is no way to lower taxes directly. Instead, the property values that used to calculate property tax bills can be challenged. Market value is one factor that needs to be considered, but there are other factors as well. The assessment ratio of 33.33% is applied to every home or business, which is then multiplied by the equalization factor. This creates the equalized assessed value (EAV), which is what tax rates are applied to calculate tax bills. The two main ways to secure a property tax reduction in Illinois are either to lower market value or EAV. This can be accomplished using a few methods.
Exemptions:
Most exemptions lower EAV, including the Lake County homestead exemption, which removes $8,000 in EAV. There are other exemptions that property owners can qualify for as well, such as the senior exemption, senior freeze, or the Persons with Disabilities Exemption. Many taxpayers make the mistake of not using their exemptions to the fullest.
Property Tax Appeals:
These can be used to supplement exemptions or get a reduction for properties that do not qualify, such as second homes, rental properties, or other income-generating real estate. Appeals challenge the assessed values directly, often leading to a decrease in market value. While exemptions are easy to file, appeals require extensive evidence to be successful.
Why Appeals Matter in West Deerfield Township
Appeals are a great resource for both affluent homeowners and working families. That is because they can be used to control accelerating values, correct errors, and ensure that assessments and taxation are fair. In addition, they can be used extensively by businesses, which often do not qualify for exemptions. Many businesses appeal annually as part of their cost-reduction strategy. For businesses and homeowners of more modest means, appeals can often secure reductions that can have a large impact on their budgets.
Property tax appeal deadlines are set by townships, so the various communities across Lake County have disparate deadlines. As a rule of thumb, the appeal deadline is set 30 days after a notice of assessment is published. The deadline is final, as there is only one shot to file an appeal. These protests are filed with the Board of Review (BOR), which acts as an impartial referee between the taxpayer and the assessor, with each side presenting evidence. While further protests can be filed later, such as those to the Property Tax Appeal Board (PTAB), the initial BOR appeal must be filed first.
June 4, 2026:First installment due date for property taxes
September 4, 2026: Due date for the second installment
September 14, 2026: Deadline to file a property tax appeal
Get the Best Evidence Possible with O’Connor
While appeals are a vital aspect of property tax reduction, many homeowners and businesses do not utilize them. This is because the barrier to entry is defined by difficult evidence. In order to best the assessor in front of the BOR, a taxpayer needs to show why they deserve a reduction. In cases of overassessment, where a property is assessed higher than what it would sell for, a taxpayer needs to provide several examples of property sales dating back three years. For instances of unequal assessment, the taxpayer must present several assessments. These comparable properties must meet exacting standards and should be close to the taxpayer’s property in age, size, and location. Finding and documenting the perfect comparables can be a monumental task.
We at O’Connor bring expertise in evidence to the table. We utilize valuation analysis to study the assessment, ensuring that every number is correct. Then, we use our state-of-the-art databases to locate the best comparable properties possible, ensuring that we present an accurate picture of your property’s value. Once the evidence is gathered and the analysis is complete, we will coordinate an appeal with a veteran law firm for you. Best of all, you will not pay anything upfront to enroll. Instead, you will only need to pay for the evidence and analysis if your property taxes are lowered.
