Has your latest Orland Park property tax assessment notice given you quite a shock? You are not alone. However, it’s not uncommon for property owners to see a considerable increase in their property tax bills due to home value increases, boundary shifts, and other changes. There is, however, something you can do about an unfair property assessment increase. A significant increase may give you grounds for objection, especially when it varies greatly from other properties in your area.
Objecting to a property assessment increase is more common than you think. Around 20 to 40% of property owners have been able to lower their property tax bills by objecting to their property assessment. This has saved them a lot of money. This article will discuss how to object to a property assessment increase and the possibility of lowering your property tax bill for the upcoming year.
Step 1: Gather Evidence
If you believe your tax assessment has increased by mistake, get in touch with your tax assessor immediately so they can explain how they determined your property’s value. The assessor might have entered the incorrect square footage or the wrong number of bedrooms for your property, causing the increase. If the reason for the increase cannot be easily identified, you need to do more research. One helpful tip is to find some similar properties in your area that have recently been sold. You might have solid grounds for your objection if these properties sold for a lot less than your property assessment. Be sure to check your local laws and regulations.
Step 2: Look Up the Appeals Process
Objecting to a property assessment looks different from one county to the next. For that reason, you’ll need to be sure to look up the appeals procedure for your specific location. This information can usually be found on the county website or the tax assessor’s website in many cases. The forms needed to file the appeal can usually be found on their sites as well. Note specified dates or timeframes if there are any. Most places give you 90 days to file an appeal, although in other places it can be as low as 30 days. Still, in some areas, appeals are only accepted within a very specific window of time. To ensure that you are making efficient use of your time and to raise your chances of success, be sure to follow your county’s procedures.
Step 3: File and Argue Your Case
As soon as you have ready all your documents and evidence, it’s time to file your appeal. Again, make sure you follow everything outlined on the county or tax assessor’s website. Be sure to pay the filing fee through an approved method. After this, you should receive a notification when a hearing on your appeal has been scheduled. Make sure to show up for the hearing, or send an authorized representative in your place. If you, or a representative, don’t show up for the hearing, your appeal will not be considered. Prepare all your documents and copies before the hearing. You will have your chance to argue your case and may successfully have your property assessment adjusted to reflect the current value of your property.
Objecting to property assessment increases has helped rental property owners have more control of their expenses. Even if it is common, it still takes a lot of time. Add to that the many steps you have to follow to the letter to increase your chances of success. Real Property Management DuPage Preferred‘s Orland Park property management professionals can help you maximize your rental income. We offer many valuable services to rental property owners like you that can help you keep your costs down and the rental income flowing in. Contact us online or call 630-427-2200 today!
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