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business_manA fair property tax system requires that the government’s appraisers assign an assessed value to your property based on its true fair market value.   If the value the government’s appraiser assigns to your property is not in line with your local real estate market or is based on error, or doesn’t reflect the condition of your property (often times this is not accounted for by the government), then your property may be over-assessed.

How do you determine whether your property is over-assessed based on an incorrectly assigned market value?

Hiring a Real Estate Appraiser of your own. Private Real Estate Appraisers are experts at determining the value of real estate. They possess professional designations and are also licensed and regulated by your state.

What they do. Appraisers take recently sold properties which are comparable to your property and perform an analysis of your property compared to others in order to determine the fair market value of  your property. Unlike a preliminary Market Analysis, Real Estate Private Appraisers are required to inspect your property and assess the physical, functional, and economical factors affecting the value of your property. A Private Appraiser’s principles of value, comparable data in your market, area or neighborhood analysis, accurate description of features to your property, and reconciled opinion of value for your property are all set forth in the Appraiser’s Appraisal Report.

  1. How Important is the Appraisal Report? The Appraisal Report is evidence utilized in your property tax appeal in order to support an argument that your property is over-assessed by the government’s appraiser based on value or in order to clarify your property’s features, and explain the condition of your property.
  2. The critical role a Private Appraiser plays in a Tax Appeal Proceeding. Appraisers are expert witnesses. Only Appraiser’s are qualified as experts in establishing and testifying as to the value of any given property..See our Video on the Tax Appeal Process.

BIG TIP: If your property is located within a township or county that has been re-assessed, it’s in your best interest to evaluate the fair market value of your property. Click here to start a Real Estate Tax Master Evaluation.

Should you order an appraisal now?

slide1-imgOrder an EVALUATION of your Tax Assessment, first.

A market analysis is performed as well as all other basis for appeal are examined.EVALUATION CHECKLIST

Real Estate Tax Master helps you maximize your tax savings by running a market value analysis on your property as part of the Evaluation it performs.

If your Real Estate Tax Master Evaluation gives you a thumbs up you may opt to appeal your property tax assessments. It is then in your best interest to order an Appraisal Report.  A favorable appraisal report greatly increases your chance for an appeal victory.

Cook County Taxpayers…..

Search for an appraiser Cook County in our appraiser directory found on this page by clicking on the tab named Directory. See Real Estate Appraisers Illinois. Appraisers and Real Estate Attorneys Illinois can share and exchange data enhancing your chances of property tax reduction on our unique collaborative platform. The collaboration of professionals undoubtedly increases your chances at winning your property tax appeal.

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