My Journal Courier
By Mark Glennon
If only somebody had good news about property taxes, which have long been a hot button issue in Illinois. But the news is now worse. More importantly, nothing indicates relief will come.
Illinois now edges out New Jersey for the highest effective property tax rates in the nation. That’s according to a report this month by Attom Data Solutions, a leading source on the topic.
Written by Ron Kingsley, LCA Tax Attorney and Owner
In general, I have found that Lake County Appeal's clients are aware of at least one of the two most common grounds for property tax appeals in Lake County: one based on comparables sales ("comparable sales appeals"), and one based on equality of assessment ("uniformity of assessment appeals"). However, they are often unaware that either (or both) can be grounds for a property tax appeal.
Comparable Sales Appeals
Written by Ron Kingsley, LCA Tax Attorney and Owner
Written by Ron Kingsley
LCA Tax Attorney and Owner
If Lake County Appeal can reduce your Lake County property’s assessed value, your property tax burden will decrease. Additionally, there are many exemptions available to taxpayers that can reduce the burden even more. Make certain that you are receiving all of those you are entitled to! The value of the exemption is the exemption amount multiplied by your tax rate, which is on your tax bill.
General Homestead Exemption:
By: Mike Miletich
SPRINGFIELD, Ill. (WAND) — Lawmakers on both sides of the aisle hope an independent study of Illinois property taxes can lead to solutions for the broken system.
Sponsors and advocates know Illinois has one of the highest and most burdensome property tax bills in the country.
Local and state leaders have previously created commissions and task forces to study property taxes, but those groups failed to appropriately study the issue
While some argue an independent study could lead to actual property tax reform, local Republican representatives threw cold water on the idea.
By Rukmini Callimachi
By Rukmini Callimachi
Buying your first home has long been a milestone of adulthood. So has selling your first home and moving into something bigger. But in the last few years, many Americans have gotten stuck in their starter house.
That’s because the U.S. housing economy is being hammered by three forces: the highest interest rates in around two decades, record home prices and near-rock-bottom inventory. “Home affordability is the worst I’ve ever seen it,” Daryl Fairweather, Redfin’s chief economist, told me.
Written by Ron Kingsley
LCA Tax Attorney and Owner
Lake County Appeal’s residential clients frequently ask: Should I sign up every year? Our answer is always the same (regardless of whether we found a property to be fairly assessed in the previous year or filed a successful appeal): Yes, you should sign-up every year for the following reasons:
By
CHARLES SELLE
Lake County News-Sun
Nearly every taxing body raised their rates for the 2023 tax year. The bill’s first installment is due at the office of Lake County Treasurer Holly Kim by June 5; the second on Sept. 5.
Lake County Appeal’s residential clients frequently ask: Should I sign up every year? Our answer is always the same (regardless of whether we found a property to be fairly assessed in the previous year or filed a successful appeal): Yes, you should sign-up every year for the following reasons:
Written by Ron Kingsley, LCA Tax Attorney and Owner
In general, I have found that Lake County Appeal’s clients are aware of one of the two most common grounds for property tax appeals in Lake County: one based on comparables sales (“comparable sales appeals”), and one based on equality of assessment (“uniformity of assessment appeals”). However, they are often unaware that either (or both) can be grounds for a property tax appeal.
Comparable Sales Appeals