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Chicago Heights Illinois Homeowner Has $1,800 property tax to $30,000
A Southern Suburban Illinois homeowner who used to pay $1,800 in property tax was shocked when the property tax on his single-family modest home in Chicago Heights, Illinois skyrocket to $30,000.
https://www.fox32chicago.com/news/cook-county-homeowner-property-tax-bill-erroneously-skyrockets
fox32chicago.com
Suburban homeowner's property tax bill skyrockets from $1,800 to over $30K
A homeowner in unincorporated Chicago Heights is reeling after receiving a property tax bill that assessed his modest 1950s home at over $1 million.
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A property tax increase can be shocking and burdensome to homeowners. Here’s why a Southern Suburban Illinois homeowner might face such an extreme spike in Chicago Heights, Illinois Property Taxes. Possible Reasons for Drastic Property Tax Increase can be due to property reassessment. Revaluation of the property by the city or county can get the property reassessed: Property taxes are based on the assessed value of the property. If there has been a recent reassessment, the home’s value might have shot up dramatically which in turn leads to higher taxes.If real estate market in the area has appreciated, assessed value of properties may go up accordingly. The tax rate set by local governments (county, city, school district) may have increased. Significant increases in tax rates can lead to substantial rise in property taxes.Approval of new bonds or levies for schools, infrastructure or other local projects can result in higher propert taxes.Errors need correction such as incorrect square footage or classification among others in property assessment.Special assessments for improvements like new sidewalks, sewers among others infrastructure projects may be added to property taxes.
Steps to Address Property Tax Increase
Review Tax Bill:Detailed Breakdown- Carefully review the property tax bill so as to understand what makes it go high.Check assessment notice for any errors in property details or assessed value.Contact local assessor’s office for clarification on assessed value and reasons behind increment.If there are discrepancies or errors request review/correction.Homeowners have right to appeal their property tax assessment if they feel it is wrong/unfair.Gather evidence like recent sales data of similar properties, appraisal reports and documentation showing any errors in assessment.Consider hiring a Property Tax Attorney/Consultant who specializes with appeals.Join/form local homeowner groups that advocate for fair property tax assessments/rate changes with local government officials-value determined by assessor’s office is usually a percentage of market value.The rate is applied to assessed value set by local taxing authorities.A multiplier ensures uniform property assessments across different areas within the jurisdiction.Homestead Exemption is available for primary residences thus reducing taxable value.Senior Exemptions are available for senior citizens hence further reducing taxable value.
It’s uncommon for property taxes to suddenly jump by $1,800 to $30,000 or more. This kind of increase is likely because there were multiple reassessments combined with changes in tax rates, special assessments or errors. Homeowners who receive such bills should take these steps as soon as possible: review their tax bill; contact their assessor’s office and file an appeal if necessary. Seeking help from professionals and getting involved with community organizations can also address some financial consequences related to high property tax hikes.