It can be said that living in the countryside would mean that you are paying more taxes than usual. Most of the properties there have been what can be called over-assessed. With the aid of Property Tax Appeal Service, the people will be able to get the fair deal and pay the correct amount of tax. From 2003, the prices of the different houses have come down in a dramatic fashion and hence the taxes to be paid should also lower accordingly. However this has not been the case and the people continue to pay heavy taxes which are completely unfair in nature.
Doing proper assessment
It is really important to understand the manner in which assessment of the property is done. The realtor who is based locally would be able to help you in comparison of the property with others, which have been sold quite recently. In this manner the market value of the property will be known.
After the market value is known, the Real Estate Tax Attorney would be multiplying that value with the assessment ratio. For example if the assessment ration in the area is 70%, then on a property of $100000 tax of $70000 will be levied. Different neighborhoods use different methods.
Property Tax Appeal Service and keeping record of the property
It is always mandatory to look for errors in your assessment. You will find all the information in the worksheet. You need to check whether all the information provided there is correct or not. You need to make corrections if necessary.
The value of the property needs to be assessed by comparing it with other similar ones. The comparison can include the number of rooms as well as the area of the property is square foot. The Cook County Property Tax Appeal can help you with these tasks.