Property Tax Lawyers in Franklin Park

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

Property tax in Franklin Park, Illinois is measured by taking a percentage of the appraised value of the property in question. They are normally collected on an annual or monthly schedule.

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

How Property Tax is Calculated in Franklin Park, Illinois

Normally, Franklin Park, Illinois property taxes are determined as a percentage of the property's value. Tax rates vary widely, but they usually run from less than 1% up to about 5%.

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

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

To this end, the Franklin Park, Illinois appraiser will look at things like the state of the real estate market, the size of the land, the presence of additions to the land such as buildings, and the way in which the property is zoned.

How A Franklin Park, Illinois Property Tax Attorney Can Help.

The system of levying property taxes in Franklin Park, Illinois can get fairly difficult. Disputes about property taxes, between the taxpayer and the tax authorities, can come up in many different ways. A taxpayer may believe that an error was made in calculating their property's taxable value, resulting in bigger tax bill. Furthermore, the state or city government might allege that you have failed to pay your property taxes, while you believe that you have.

If one of these contentions affects you and your property in Franklin Park, Illinois, you should make every effort to properly handle it. This can prevent small issues from growing into large ones. The best way to do this is to seek the advice of a brilliant Franklin Park, Illinois tax attorney who specializes in property tax law.