Our real estate tax team at Rock Fusco & Connelly continues to work hard fighting to keep your property tax bills as low as possible. As the 2021 appeal session gets underway, we wanted to give you an update on where we are in the 2020 appeal session, what to expect in 2021, and dates to keep in mind for filing your appeals.
2020 session:
Although all filing deadlines for 2020 have passed, the 2020 session still has not been fully adjudicated in Cook County yet due to delays related to the pandemic. (This also means that any opportunity to appeal 2020 assessments/property tax bills have long expired.) Due to the COVID-related delays in Cook County, the second installment bills – which would usually come out in July – will likely not be released until September or October.
As a result of this delay, our billing for the 2020 session will also be delayed until the tax rates for Cook County are released and we’re able to calculate more precise numbers using up-to-date information. We will inform you of your result as soon as the decisions are released by the Cook County Board of Review. As always, for any unfavorable decisions we may receive, we will advise whether a further appeal of such assessments should be filed at the Property Tax Appeal Board (PTAB) within the 30-day deadline after certification of results.
2021 session:
Cook County: The Assessor’s Office has just started the 2021 session with two smaller townships first up on the docket – River Forest and Riverside. The deadline to file for those two townships is May 21 and May 22, respectively. You will receive an assessment notice in the mail. Additional township assessments will be released soon.
The City of Chicago will be up for reassessment in 2021, so property owners within City limits should keep a lookout for reassessment notices this year. Anyone who has suffered from vacancy issues over the past year or suffered income losses related to the pandemic should make sure to document attempts to lease the vacant space, tenant concessions, deferred rents, utility bills, photographs of the vacancy, and projections for a path to stabilization.
With regards to exemptions, the Cook County Assessor’s Office has announced that the “Senior Freeze,” “Persons with Disabilities,” and “Veterans with Disabilities” exemptions will be auto-renewed this year only, due to the COVID pandemic – in addition to the “Homeowner” and “Senior” exemptions automatically being renewed every year. But, you should check the Assessor’s website to be sure you are receiving the correct exemptions.
Collar Counties: We anticipate that the 2021 reassessments for DuPage, Lake, Kane, and Will Counties will begin being published around June. The same recommendation applies here: anyone who has suffered from vacancy issues over the past year or suffered income losses related to the pandemic should be sure to document attempts to lease the vacant space, tenant concessions, deferred rents, utility bills, photographs of the vacancy, and projections for a path to stabilization.
Rock Fusco & Connelly is here to serve all your property tax needs from appeals to exemptions to incentives. Please do not hesitate to contact us with any questions or requests.