• February 22, 2022 News
    Property Tax Assessment

    The Illinois State Bar Association will feature Donald T. Rubin in an upcoming webinar as he discusses professional development, avoiding common pitfalls and maintaining civility as part of its “SALT’s Through the Legal Looking Glass Series” on Wednesday, February 23 at 11 am CT.

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  • August 17, 2021 News
    Commercial Real Estate

    2020 was a difficult year. The COVID-19 pandemic impacted the economy across all industries, especially real estate. As the lockdown extended well beyond initial expectations, commercial lending became virtually impossible to obtain given the instability of the market and lack of forecast ability. As a result, we saw a number of commercial real estate deals delayed indefinitely and eventually terminated. On the leasing side, we had tenants defaulting on their leases and asserting force majeure as a means of temporary rent relief. But, as 2020 dragged on and we learned to navigate the unprecedented time, we finally started to see a light at the end of the tunnel as we moved into 2021.

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  • July 2, 2021 News
    Property Tax Assessment

    The final 2020 multiplier for Cook County taxpayers was released and it will have a major impact on Illinois taxpayers.

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  • June 2, 2021 Events
    Webinar
    Property Tax Assessment

    This panel presentation updates your knowledge of the Property Tax Appeal Board (PTAB), including its history as a “poor person’s court,” the Cook County expansion, who they are and what they decide, filing with the PTAB, and interveners and increases.

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  • February 23, 2021 News

    Golan Christie Taglia is delighted to announce the inclusion of 16 firm attorneys to the 2021 Leading and Emerging Lawyers lists for their outstanding work in a wide range of areas including Closely & Privately Held Business Law, Commercial Litigation, Bankruptcy & Workout Law: Commercial and more.

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  • December 4, 2020 News Coronavirus Alerts
    Property Tax Assessment

    Golan Christie Taglia's Property Tax Group has recently attained several successes in having clients' real estate tax assessments significantly reduced based on COVID-related business losses incurred by the owner.

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  • January 29, 2020 News

    Four Golan Christie Taglia Partners have been selected to the 2020 Leading Lawyers list and the firm has also been honored with the inclusion in the Top 100 Law Firms for Illinois list.

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  • September 10, 2019 News
    Property Tax Assessment

    As a result of the unprecedented assessment increases to commercial and industrial property values in Cook County, how will lenders deal with the resulting impact on their borrowers' tax liabilities?

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  • September 10, 2019 Property Tax Insights

    As a result of the unprecedented assessment increases to commercial and industrial property values in Cook County, how will lenders deal with the resulting impact on their borrowers' tax liabilities? How will they respond to borrowers who claim they cannot meet their lender's call for substantial upward adjustments in their tax escrows? With regard to income producing properties, what happens when loan to value ratios change due to the decline in market values resulting from the affect of additional property tax expenses on the borrower's NOI. A $50,000 increase in property tax expenses, capped at 7%, could diminish the market value of a property by more than $700,000. It's not always that simple, but a decline in market value is the logical consequence of a higher tax bill for both owner/occupants and landlords. And that leads to an additional line of inquiry as to how tenants, and prospective tenants, will respond to a significant increase in their overall rent coming from these potential increases in their property tax liabilities? Will it, or has it already, caused a slow down in both leasing and sales activity? Will prospective tenants, as well as prospective purchasers and lenders, be taking a more cautious approach to making their final decisions going forward? How will lenders ultimately respond to their increased risk as existing loan to value ratios begin to fluctuate? The typical response would be for them to adjust interest rates upward where possible, to account for the sudden increase in risk, and to work to get their loan to value ratios back in synch. How they choose to accomplish this could have significant consequences for the real estate market.

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  • September 4, 2019 News
    Property Tax Assessment

    New Trier Township is located in Cook County, IL. The entire township was subject to a reassessment in 2019. The Assessor opened the township for appeals on April 29 2019. The Assessor then certified the final assessments for all real estate in the township on August 15, 2019, meaning that he had completed his work for the year and closed his books.

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  • September 4, 2019 Property Tax Insights

    New Trier Township is located in Cook County, IL. The entire township was subject to a reassessment in 2019. The Assessor opened the township for appeals on April 29 2019. The Assessor then certified the final assessments for all real estate in the township on August 15, 2019, meaning that he had completed his work for the year and closed his books.

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  • August 22, 2019 News
    Property Tax Assessment

    The Assessor proposed a 2019 market value of approximately $1,744,000 for a property. The party purchased the property for approximately $1,150,000 at the end of 2018 in an arm's length, brokered transaction. The evidence tendered in support of the appeal included the following documents:

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  • August 22, 2019 Property Tax Insights

    The Assessor proposed a 2019 market value of approximately $1,744,000 for a property. The party purchased the property for approximately $1,150,000 at the end of 2018 in an arm's length, brokered transaction. The evidence tendered in support of the appeal included the following documents:

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  • July 8, 2019 News
    Property Tax Assessment

    The Cook County Assessor continues his relentless vendetta against business properties in north suburban Cook County. Unprecedented assessment increases upward of 200-300% are being mailed to unsuspecting taxpayers.

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  • July 8, 2019 Property Tax Insights

    The Cook County Assessor continues his relentless vendetta against business properties in north suburban Cook County. Unprecedented assessment increases upward of 200-300% are being mailed to unsuspecting taxpayers. Every property is being treated as institutional grade investment property, from mom and pop storefronts to small apartment buildings. The assumption that all properties are being leased on a triple net basis allows the Assessor to eliminate property taxes as an expense, which results in higher net incomes and allows the use of much lower capitalization rates. These low rates only allow for a return of the investment necessary to cover debt service, not a return on the investment which allows a return on owner equity. This practice is being used to greatly increase the market value of virtually every commercial and industrial property in the north and northwest suburbs. While claiming complete transparency, Freedom of Information Requests filed on behalf of taxpayers by their attorneys to determine the reason for a denial of relief, are taking upwards of 6 weeks to process, while the law requires a response in not more than 10-days. When responses do become available, a review indicates how the Assessor is manipulating data to ensure that virtually every appeal will be denied. The good news is that the Board of Review has opened a month early, in anticipation of a huge increase in the volume of appeals due to the Assessor's refusal to grant relief, even on the most meritorious cases. The Board has also disclosed that it will continue to review cases as it always has, and will grant relief on the merits of each case, without a pre-determined policy intended to find any means to deny relief to property taxpayers who could see their tax bills skyrocket due the Assessor's failure to act in a fair and equitable manner.

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  • May 3, 2019 News
    Property Tax Assessment

    Has the value of your business property actually increased by 82% in just 3-years?

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  • May 3, 2019 Property Tax Insights

    Has the value of your business property actually increased by 82% in just 3-years?

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  • April 24, 2019 News
    Property Tax Assessment

    In the first three townships having a significant commercial and/or industrial tax base, (Norwood Park, Evanston and Elk Grove, the new assessor has been increasing market values by as much 50 to 300%. He claims that properties in the northern suburbs have been grossly underassessed for years, hence a 1-year catch-up was justified.

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  • April 24, 2019 Property Tax Insights

    In the first three townships having a significant commercial and/or industrial tax base, (Norwood Park, Evanston and Elk Grove, the new assessor has been increasing market values by as much 50 to 300%. He claims that properties in the northern suburbs have been grossly underassessed for years, hence a 1-year catch-up was justified. Of course, no consideration was given to the jobs that will be lost as tenants and companies relocate, nor to the investors who will no longer invest in Cook County, nor to the companies that will no longer consider locating in Cook County, nor to the existing companies that will jettison their expansion plans. The same is true for owners of residential income properties that have also experienced significant increases. Who will be able to afford the higher rents that landlords will try to pass on to them? As to the homeowners, many of whom saw only minor increases, what will become of their property values if local jobs disappear and they cannot sell their houses? To date, the assessor has stubbornly refused to grant relief on a vast majority of commercial and industrial appeals, as his property valuations are apparently perfect.

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  • April 17, 2019 News
    Property Tax Assessment

    In the never ending battle between the qualifying factors for receiving a charitable property tax exemption as first enunciated in the Korzen case, Methodist Old Peoples Home v. Bernard Korzen, County Treasurer, et al, 233 N.E, 2d, 537, 39 Ill.2d 149 (1968), the Illinois Supreme Court initially set forth the following criteria for successfully obtaining a property tax exemption.

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  • April 17, 2019 Property Tax Insights

    In the never ending battle between the qualifying factors for receiving a charitable property tax exemption as first enunciated in the Korzen case, Methodist Old Peoples Home v. Bernard Korzen, County Treasurer, et al, 233 N.E, 2d, 537, 39 Ill.2d 149 (1968), the Illinois Supreme Court initially set forth the following criteria for successfully obtaining a property tax exemption.

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  • March 8, 2019 News
    Property Tax Assessment

    A board of review decision can also be appealed directly to a circuit court. It’s an option that taxpayers often overlook!

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  • February 11, 2019 News
    Property Tax Assessment

    There’s a remedy for correcting errors or mistakes in a property tax assessment even after the deadline for appealing to an assessor or board of review has passed.

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  • February 11, 2019 Property Tax Insights

    Mistakes happen. If a mistake occurs in the property tax process, it could be costly if not corrected. Fortunately, some errors are fixable -- even those that may have occurred in a previous year or years -- thanks to what is known as a Certificate of Error, or in property tax parlance, a C of E. When an assessment error is discovered, taxpayers can seek relief by filing a C of E with local assessing officials. However, be advised that the granting of a C of E by an assessing authority is discretionary, not mandatory.

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  • January 10, 2019 News
    Property Tax Assessment

    Wind energy devices have proliferated across the central Illinois landscape in recent years. Get wind of how the assessment process works by talking to a property tax attorney.

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