2009 Cook County Tax Bills Are Up
For many of you in Cook County, the receipt of the 2nd installment 2009 bills after the election came as an unpleasant surprise. The total 2009 taxes due were often higher than the year before despite property values being down.
Real estate taxes have 3 components. The Assessed Valuation, the Tax Rate and the Equalizer. The Equalizer is designed to ensure that there is an equal assessment among all 102 counties in Illinois. For 2009 the Equalizer increased in Cook County by over 13% from 2008. So if your Assessed Valuation did not change and your tax rate did not change, your taxes sill went up by over 13%.
While there is nothing that can be done for 2009 taxes, if you believe that your commercial property is over assessed, it is imperative that you contact us immediately after the Notice of Change in Assessment is received. The time periods for filing objections are very limited. Please contact Liat Meisler (312-696-1360) or Jason Kuether (312-696-1358) for more information.