Property Taxes?

Question

Is there anyone here that does know the law about the Property taxes here in Illinois?
I just went to the Board of Review and put in a complaint about my Property Taxes and found out ,that they had my House listed at 1200sq insted of 960sq. Somebody will come out and re-measure the house they told me.Is there a way to get back the overpayed monies from the last 5 years since I live here in this house ?Is there a chance getting any thing back due to overpayment or what? I never knew that I had the option to complain about the taxes and to get it reduced etc.
So what is there I can do about it . I have a hearing on October the 2nd regarding the taxes. So what do I say regarding this?
Thank you for all the help you can give me.

I am sorry if I should have put this in the wrong category

Answer 1

I am a former tax assessor, current real estate broker and investor in Pennsylvania. Every State's law differs. In PA and NJ, you wouldn't be able to get a retroactive rebate for any tax year prior to the year after the assessment appeal. That's history. You can appeal your assessment based on a faulty measurement this year and if they lower your assessment, starting with next years tax bills, you will see the benefit. Also, they can't spot assess, meaning that just because your neighbor sold his house for current value, they can imply your assessment should be raised. That's against the law. The only conditions they can raise your assessment are a county authorized re assessment of the whole county where they reevaluate all properties, or when you file an appeal. That's where you have to be careful. Make sure that the "imputed" market value of your assessment is not greater than real market value. If you find your home is assessed for less than current market value, leave it alone. If you are in a development with many of the same style homes, don't be surprised if the measurements of your neighbors homes are off too.

Answer 2

The property owner is responsible for paying the property taxes and the amount owed each year is driven by the state, county and municipal budget items that are covered by the tax revenue, and in proportion to the equalized value of the property as compared with other similar properties in the area. So, if you have a very rich community (or a high-valued corporation or utility property located there), but a small government budget, your taxes may be low.

Answer 3

here is another wrinkle in the equation. when was you home's last assessment? What they do here in PA is reevaluate based on the purchase price of your home so in theory, actually in practice you have two identical homes right next to each other, one was assessed 15 years ago and for example pays taxes of $1400 a year. The one next to it just sold for twice the amount that it was worth 15 years ago. The new owner will now pay $2800 a year in taxes, again although both houses are identical. If they are remeasuring that is one thing, if they are re evaluating you could be in worse shape than you are now. And knowing tax officials that is most likely what is going to happen.

Answer 4

Sorry, Uncle Sam doesn't give refunds on past tax years after you have paid the bill. It is like asking for an income tax refund on a previous year after you learn about a loophole.

In your future hearing I suggest you get your house reassessed under the true square footage and have your present tax bill continue to be pending (without penalty) until your property can be measured properly.

Answer 5

Just explain the actual footage of your house and what the tax office has on record is not accurate.

Answer 6

You probably won't be able to get the overpayment back but you can ask.

Answer 7

if you live in illinois move thats a way to pay back the man

Answer 8

Look here

http://www.state.il.us/agency/ptab/

Curious how anyone could rate this as a "BAD" answer

Answer 9

Watch , they could go up too!!!