In Will County, IL, property owners are currently receiving
notices of Revised Property Assessments for the Tax Year of 2013 ... payable in 2014.
Please note: You will not receive a Revised Assessment notice if your Assessment didn't change. Also, Assessments will be published in various newspapers throughout Will County on Wednesday August 7th and Thursday August 8th. Click HERE for the "2013 Publication List".
If you feel that the Revised Assessment Assessor's Market Value Estimate pertaining to your property is unfair, or based upon incorrect data regarding your home's square footage, characteristics, or amenities ... you have 30 days to file a formal appeal. (Check the actual posted deadline date on your Notice.)
Your formal appeal must be placed with your local
Township Assessor. They maintain a Property Record Card on every parcel located within the township. This record is a fact-chart of your property's characteristics.
The Property Record Card includes a list of building characteristics such as: Square footage, number of bedrooms and baths, existence of fireplaces, central air, porches, garage, basement, crawl, slab, and lot size. If any of the data found on the Property Record Card is incorrect, it is reasonable to assume that the Assessed Value Estimate reported could be flawed.
There are multiple ways in which you can file a formal appeal. Should there be errors to any of the information above, that is one basis for an appeal. When you file your formal appeal, facts must be provided to the Assessor as proof of the errors made.
Another way to appeal is to compare your Assessment to other similar properties in your neighborhood or area. You must find properties with comparable living area (square footage) and features so a comparison can be made regarding assessments.
Lastly, and what I consider the more impactful method of appealing your Assessment is to provide recent sales activity (including your own purchase contract and Closing Statement). Many transactions in recent years have sold at a price below the last Assessor's Market Value Estimate. If that is true with your property, provide the Closing Statement, Contract, and the form required by the local Assessor, to submit the formal appeal paperwork.
Remember, you can't appeal the Tax Bill itself. When your Tax Bill arrives, it's past the date for appeal and your appeal will be dismissed immediately. Your appeal must be based on the value estimate by the Assessor.
Your property's Assessed Value is found through a fairly simple equation:
Estimated Market Value X .3333 = Assessment
Example:
$200,000 X .3333 = $6,666.66
As you appeal, provide the facts only. Try to keep your emotions out of your presentation. Then let the Assessor perform their review and the appeal process work as it should.
Note: To help inform and educate Will County property owners, The Will County Supervisor of Assessments office will host Tax Forums in multiple locations across Will County on the following dates:
August 8th, 2013
Wilmington High School
6 pm
August 12th, 2013
Joliet Public Library - Black Road Branch
6 pm
August 13th, 2013
Frankfort Township Building
6 pm
August 15th, 2013
Plainfield Central High School
6 pm
August 20th, 2013
Rasmussen College
6 pm
Will County, IL Revised Property Assessments are Out for 2013. Should you have questions prior to any of the above Forums, please contact the Supervisor of Assessments at: 815.740.4648. Additional information can be obtained by visiting the Supervisor of Assessment website at: www.willcountysoa.com.
* Hoping to Buy a Home or Refinance within Will County, DuPage County, or elsewhere in the Chicagoland region? Contact me today! I'll put my 36+ years of mortgage experience and expertise hard to work on your behalf.
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