The annual right of passage is upon us. Every fall, local townships post a list of assessed values for all homes in the township. The assessed value is the first step in determining your tax bill for next year. Those assessed values will be posted soon, both on the individual township websites and the local newspapers. But if you simply grumble about the amount, shrug your shoulders, and wait for the tax bill to arrive next summer, you could be missing an opportunity to lower your tax bill.
Here’s what you can do:
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Take the time to understand your township's assessment process
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Look for tax credits that could reduce your bill
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Evaluate your property's valuation and potential for a successful appeal
This LW Reedy guide to understanding property assessed values and appealing those valuations will help you decode your tax notice and navigate the appeal process.
As of the publication date for this post, local assessor’s offices have not set a date for the posting. Check with your local assessor's office for estimates on timing.
Tax Bill Terms
Non-Negotiable Tax Rate
Definition: Determined by the local governing bodies as the rate needed to support local schools, municipalities, townships, park districts, libraries, etc.
To do: The only way to impact the tax rate is by voting in elections for referendums and elected officials.
Assessed Value of Your Property Used for Property Tax Purposes
Definition: Determined by the township office, not by the homeowner.
To do: Confirm that the amount makes sense. Explore an appeal if it does not.
Fair Market Value
Definition: The price the house would most likely be sold for, not the highest or lowest possible price.
Exemptions
Definition: Credits—homeowner’s exemption, homestead improvement exemption, senior exemption, senior freeze, disabled veteran’s exemption—used to reduce property tax bills.
To do: Notify the township office of any credits you are eligible for that are not reflected on your notice. For more information, visit the Treasurer page of the DuPage County website.
Due Dates
Taxpayers have 30 days after assessments are published to appeal. Appeals must be postmarked within 30 days of publishing or be hand-delivered to the assessor's office.
NOTE: assessments are published online and in local papers but are NOT mailed to every property owner every year.
YORK TOWNSHIP
630-627-3354
Assessment Inquiry Form
DUE: 30 DAYS AFTER PUBLISHING
ADDISON TOWNSHIP
630-530-8161
DUE: 30 DAYS AFTER PUBLISHING
Check First
Get your facts straight.
- Is the description of your property accurate? Is the lot and building information correct? Is any information reflected on your tax bill inaccurate?
- Has anything changed with your property that has an impact on its value? Are those changes reflected on your tax bill?
- Are you getting all the credits available to you? These are not credits toward your tax bill but rather credits that reduce the assessed value of your home. Credits should be reflected on your tax bill.
Always check with your township office to confirm due dates, policies, and requirements.
Appeal-ability
An appeal must provide proof that the valuation on your property tax bill overstates your property's assessed value in comparing uniformity to other similar neighborhood assessments or is higher than the recent sale prices of similar neighborhood properties.
Can you appeal? It’s actually pretty simple to determine. If you fall into one of four groups, you qualify for an appeal:
- If your recent home sale or appraisal is less than three times the assessed value on your tax bill
- The tax bill reflects inaccurate information about your property, like the description of your home or lot
- The assessed values of similar neighborhood properties are lower than the assessed value of your property
- The recent sale prices of neighborhood homes reflect a lower assessed value
If you don’t fit into any of those 4 categories, unfortunately, your tax bill is probably accurate.
If you need help understanding the process of finding comparable properties, contact your LW Reedy Real Estate agent. We are always happy to help.
Appeal Process
If you want to appeal, you may want to consider hiring an appeal expert to see if there is anything else you can do. Or you can try these steps:
- Call the township assessor's office to review the information in their property files.
- File an appeal using the Board of Review Assessment Appeal Forms on the DuPage County Forms and Documents web page.
- Include at least three comparable properties, preferably within the same neighborhood. Include additional evidence of the value of your property. See the DuPage County Assessment Appeal webpage for details on comps or contact your LW Reedy Real Estate Agent for more information. Call your township to confirm the requirements.
- If you do not agree with the Board of Review’s decision after your appeal, you can appeal through the Illinois Property Tax Appeal Board or the Appellate/Circuit Court.
If you have a recent certified professional appraisal to use as evidence, call your assessor’s office to set up an appointment to review it with them.
Real estate professionals’ comps are useful in determining whether or not to move forward. You can also use those comps to gather the proof you need: the property record cards for the comps. As a taxpayer, you have the right to inspect the property record cards, assessment records, real estate transfer declarations, and other evidence of the sale price of any property.
Contact your LW Reedy Real Estate agent or our office with questions about your property tax assessment notice and the appeal process. We have the expertise, experience, connections, and resources to help.
