Homeowners and Businesses can Lower Their Values and Taxes

Much of what makes taxes in Cook County is unassailable. Tax rates and the equalization factor cannot be lowered by individual taxpayers. However, this does not mean that the average person is powerless, far from it. There are options that any homeowner or business can explore that help level the playing field against the CCAO. This is because property values are wide open to reductions thanks to certain techniques. By deploying these options, taxpayers are able to exert a modicum of control over their circumstances.

Property Tax Appeals are Clutch in Cook County

While they were once mostly the arena of businesses and some elite homes, property tax appeals have quickly taken Illinois and the Chicago area by storm. After many issues with the CCAO and taxing bodies, appeals have come to the forefront. Even the CCAO now encourages every taxpayer who can to appeal their taxes. First, this helps taxpayers by ensuring that all of the data on their property is correct. This includes things like exemptions, owner’s name, size, and classification of a property. Any errors in this important data can lead to much higher taxes.

Once the data is confirmed, the values should be examined. While taxes are high, that is not grounds alone for an appeal. Instead, a taxpayer needs to focus on issues of overassessment or lack of uniformity. By having solid grounds for appeal, along with key evidence, a taxpayer has the best possible chance to land a reduction. Appeals have become so vital for the financial health of property owners in Cook County that many government organizations recommend using them every year.

O’Connor Assists with Evidence and Analysis

In order to get a reduction in an appeal, evidence is required. If you are challenging on the basis of overappraisal, you will need to decide if you want to challenge on the grounds of lack of uniformity or overassessment. Overassessment is when the value of a home or business is much higher than what it would sell for on the open market. This can usually be proven by showing multiple sales records for similar properties dating back over three years. Lack of uniformity is when a property is assessed at a much higher rate than similar neighboring properties. This is proven by using several assessments that demonstrate the disparity.

Collecting these records and analyzing this data can feel like a second job. We at O’Connor are here to help. For over 50 years, we have been helping clients by providing in-depth analysis of appraisals and by gathering the right evidence to help their appeal cases. We use our state-of-the-art databases and data-driven techniques to gather the perfect evidence to back your protest. When we have the evidence, we then coordinate an appeal with a specialist law firm. Backed by our evidence, you and your attorney will have the best shot at winning your case. You will pay nothing for this evidence, unless you and your attorney can lower your taxes.