Our real estate tax team at Rock Fusco & Connelly, LLC continues to work hard fighting to keep your property tax bills as low as possible. As the 2021 appeal session progresses, we wanted to give you an update on the conclusion of the 2020 session, what to expect in 2021, and key dates to keep in mind for filing your appeals.
Cook County: The second installment bills for 2020 are now available online at the Cook County Treasurer’s Office website (hyperlink: https://bit.ly/2VHs9Cx) and are being mailed out to property owners. The due date is October 1.
The Assessor’s report for 2020 (hyperlink: https://bit.ly/3xC5kNL) shows the property tax burden for Cook County was about 58% residential and 42% commercial, which is vastly higher on the commercial side than the average for the rest of the state (which is about 64% residential and 36% commercial). The commercial burden increased, on net, by two points over 2019 in a pandemic year that hit businesses hard in both revenue losses and vacancy spikes.
Just a reminder, these second installment bills are for 2020, which have fully been adjudicated and/or pending before PTAB or the Circuit Court at this point. Procedurally, there’s nothing more that can be done for 2020 property tax bills, but the 2021 session is just getting started. Filing deadlines to appeal before the Cook County Assessor’s Office have been posted for certain townships throughout this summer and several more are coming. The Assessor has not certified any townships yet for 2021, so the Cook County Board of Review has not officially opened for 2021 appeals as a result.
As we’ve been pointing out all summer, the City of Chicago is up for reassessment in 2021, so property owners within city limits should keep a lookout for reassessment notices this year. The first townships in this group up were Rogers Park and West Chicago. The deadline to file at the Assessor’s Office for Rogers Park has already passed, but West Chicago is due by August 23. 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:
The following counties and townships have announced appeal deadlines. 2021 assessments are expected to be released 30 days before these deadlines:
DuPage County
Bloomingdale – 8/23/21
Kane County
Hampshire Township – 8/16/21
Rutland Township – 8/16/21
Dundee Township – 8/16/21
Plato Township – 8/16/21
Blackberry Township – 8/16/21
Virgil Township – 8/16/21
Kaneville Township – 8/16/21
Batavia Township – 8/16/21
Big Rock Township – 8/16/21
Sugar Grove Township – 8/16/21
Lake County
Antioch Township – 8/16/21
Avon Township – 9/7/21
Cuba Township – 8/16/21
Ela Township – 8/23/21
Grant Township – 9/7/21
Lake Villa Township – 9/7/21
Libertyville Township – 8/30/21
Moraine Township – 8/16/21
Newport Township – 8/30/21
Vernon Township – 8/30/21
Waukegan Township – 8/23/21
Will County
All Townships – 9/13/21
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, LLC 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.