Chicago, Illinois Property Tax Law

Find the right Property Tax attorney in Chicago, IL

Property Tax Lawyers in Chicago

In Chicago, Illinois, the government imposes a tax (a legally-mandated payment made to the government) on real property. "Real property" is specified as any piece of land, or object permanently or semi-permanently attached to the land (such as buildings, trees, minerals, etc.).

Property tax in Chicago, Illinois is calculated by taking a percentage of the appraised value of the property in question. They are usually collected on an annual or monthly schedule.

The federal government almost never imposes property taxes directly. Property taxes are gathered nearly always by state, county, and local governments.

How Property Tax is Calculated in Chicago, Illinois

Chicago, Illinois property taxes are usually calculated as a percentage of the value of the taxable property. Rates differentiate widely across the country, usually ranging from less than 1% at the low end, to about 5% at the high end.

To collect the property tax in a fair and consistent manner, Chicago, Illinois tax authorities need to have an objective formula for deciding the value of land under its jurisdiction.

Value, in some ways, is not an objective thing. For instance, your childhood home is likely worth much more to you than its simple market value. Nonetheless, the tax authorities use only objective factors in calculating a home's taxable value.

With that in mind, the land appraisers in Chicago, Illinois look at different factors, including the state of the local real estate market, the square footage of the house, and the permissible use (zoning) of the land.

How A Chicago, Illinois Property Tax Attorney Can Help.

The property tax system in Chicago, Illinois can get pretty perplexing. There are numerous reasons why you might run into a legal dispute regarding your property tax. For instance, you may believe that the appraised value of your property was too high, increasing your tax burden unjustly. Or, the state might accuse you of failing to pay your property tax.

If you are involved in a property tax dispute with the tax authorities of Chicago, Illinois, you should seek the advice of a Chicago, Illinois tax attorney. Your attorney can help you prevent a small tax problem from turning into something much bigger and more expensive than it needs to be.

Talk to a Tax Law Attorney now!

Life in Chicago

Many people often think of Chicago as a mini-New York City with nicer people. Chicago in fact is a large city with a lot to offer tourists, include warm and friendly hospitality.

Popular attractions in Chicago include Willis Tower Skydeck, Millennium Park, Navy Pier, Lincoln Park Zoo, Art Institute of Chicago, Wrigley Field, Grant Park, and the Magnificent Mile. Additionally, Chicago is home to many great restaurants. In fact, the style of deep-dish pizza originated in Chicago.

If one would like to catch a Broadway show, they can at Broadway Theater. Famous universities such as Northwestern University and the University of Chicago also have wonderful, historical campuses that tourists often enjoy touring.

Being such a well-known city, many firms have office locations in Chicago, Illinois. Firms such as Baker McKenzie, Sidley Austin, Mayer, Brown Platt, and Winston Strawn have large offices that employ brilliant attorneys. Additionally, many small and mid-size firms are also present in Chicago. All in all, residents of Chicago have no need to worry for any legal inquiry of theirs can be handled by the legal force in Chicago.

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