THE VALUE OF ASSESSMENT APPEALS
The Value Of Assessment Appeals
January 1, 2012
It is no secret that since 2007 real estate property values throughout the Chicagoland area have decreased drastically. Market values have plummeted for commercial, industrial and residential properties alike. Nonetheless, property taxes have remained high.
While some County Assessors have made slight reductions to assessments in an attempt to more accurately reflect current market conditions, overall property assessments do not reflect an accurate market value. Faced with the current lag between the Assessors’ indicated property values and actual values determined by the poor market conditions, it is important that all taxpayers seize the opportunity to protest their assessments and achieve tax savings.
For the second straight year, the Property Tax Group at Golan & Christie LLP has achieved over two million dollars ($2,000,000.00) in tax savings for its clients through assessment appeal work. In our appeals we strive to obtain assessment reductions that accurately reflect market conditions at all levels of appeals within Cook, Will, DuPage and Lake Counties. Golan & Christie undertakes assessment appeals for all types of property from commercial and industrial to rental and residential. Our familiarity with the appeal system and strength of evidence required to obtain equitable assessment reductions has translated to a high success rate and large tax reductions for our clients.