The cost of not appealing your Cook County property taxes
Cook County property tax revenue will exceed $9.3 billion this year. This number will not change based on the successful appeals by property owners of Cook County. The county needs what it needs.
There are in excess of 1.6 million residential properties in Cook County.
Experts estimate that there will be 400,000 successful appeals this year. There were 270,000+ successful appeals last year.
We will assume that the average successful appeal results in a $400 savings according to a county webpage long since taken off line. This is a conservative estimate, our clients are averaging almost twice this amount.
400,000 property owners saving $400 equals $160 million dollars.
1.6 million property owners less 400,000 property owners who successfully appealed equals 1.2 million property owners who did not or were unsuccessful in appealing their property taxes.
$160 million dollars is now added to 1.2 million property owners property tax bills to make up for the revenue short fall caused by the 400,000 successful appeals. The county needs what it needs.
$160 million dollars divided by 1.2 million property owners = $133 minimum property tax increase per property owner. This is the minimum because there still will be all the other factors in play to increase your property taxes.
You will also have not received your appeal results which average $400.
Your property tax bill will be lower by $400 every year until your next tri-annual re-assessment. That means $1200 in savings.
The cost of not successfully appealing your property once every three years is in excess of $1300.
Keep in mind that the above is an attempt to simplify the most complex propety tax system in the United States
You cannot control the many factors that effect your property tax bill. Appealing your Cook County Property taxes is the only option you have. To be successful, you need to fill out the paperwork and find comparables to support your claim. We help you with the paperwork and the comparables.
There are other services that will file a claim for you. They charge you a percentage of your savings, usually 33% to 50%. We do not charge a percentage of your savings. We charge a flat fee of $149.
