INFORMATION ON ASSESSMENT APPEALS
SHOULD I FILE AN ASSESSMENT APPEAL ON MY PROPERTY?
You should consider filing an appeal if:
- You feel that you could not have sold your property for the Fair Cash Value listed on the current Tax Bill on January 1 of the tax bill year.
- You feel that your assessment is too high
- You have discussed your assessment with the Assessor and you still feel that you can support an argument that you are over assessed.
- You have evidence that similar properties have sold (the “ideal” sales window is July of the previous year thru June of the current year – 12 months) via representative transaction of the market for less than your property is valued. This is known as the Market Approach/Basis for an appeal. A minimum of three comparable sales are recommended.
- You have an appraisal from a certified appraiser with a date of valuation of January 1 of the current year or within 6 months either side of January 1 of that year.
- You can show that similar properties in the immediate area/neighborhood are valued/assessed lower than you property. This is known as the Equity Approach/Basis for an appeal.
- The burden of providing evidence is the responsibility of the tax payer.
- You may appeal your assessment on both a market and equity approach.
- Go to the County Assessments Department at https://www.mchenrycountyil.gov/county-government/departments-a-i/assessments to learn more and to get the forms necessary for filing an appeal.
- REMEMBER, YOU ARE FILING AN APPEAL ON YOUR ASSESSED VALUE, NOT YOUR TAXES! YOU CAN NOT APPEAL YOUR TAXES THROUGH THE ASSESSOR’S OFFICE.