Your property tax bill involved the assessed value of your property multiplied by the tax rates fixed by each taxing body applicable to your property.  The tax rates are set by various political bodies and generally can not be challenged.   However, the assessed value of your property can be appealed annually, if warranted, and will ultimately reduce your tax bill if successful (or limit the amount your tax bill increases each year).  

When the real estate market was hot, property assessments were kept in line with the increasing home values.  However, when that real estate bubble burst, the property values sharply declined, but in many cases assessed values have not followed suit. Though it would seem logical for Lake County to reduce your property’s assessment to match the declining values, this has not always happened. The higher your property’s assessed value, the higher your tax bill will be.

Once the township assessor determines the assessed value of your home (which should equate to a fraction of your current home's fair market value depending on where you live), that valuation is published and the law imposes strict deadlines to appeal that value.  If you miss that deadline even by 1 day, you must wait another entire year to appeal your assessment.

We offer a FREE property assessment analysis and can guide you through the appeal process at the county level, and then to the Illinois property tax appeal board (PTAB) if warranted.  Our rates are competitive and typically are a percentage of your tax savings.

"With many of my neighbors homes sold in foreclosure, the value of mine dropped significantly over the past 2 years, yet my assessed value stayed the same.  Attorney Gutraj handled my property tax appeal from start to finish and cut my tax bill in half saving me over $4,000 this year."

                      J.E. 
                      Vernon Hills, Ilinois