Anyone knowledgeable about Cook County commerical property taxes (attorneys, calculation)

[odie91]

Hi, have a question about the tax appeal process, and I can't quite understand it even after discussing with my attorney.

We appealed with the assessor's office and received a reduction. Now they have to send an appeal to the Board of Review? I don't understand what's the difference, and who ultimately determines my assessment?

Also, does anyone know the calculation for what my tax bill will be, based off of the "assessed value"? This is for Cook County.

[Grlzrl]

Ok, so even though this is commercial, I can help a little. The first step is to file with the County Assessor. Then, even if you get a reduction, you can go the next step and file with the Cook County Board of Review. You don't have to. It's up to you. All the attorneys want to because they get paid as a percentage of the tax reduction. If you are not happy with that, they can further appeal it to the Property Tax Board of Appeals (which I am doing for LAST year).

I do not know what the tax rates are for commercial properties but it's always in your interest to try because even if you assessment does go down, they can raise the rates so your tax bill can remain the same or even higher. Hope that helps.