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35 ILCS 200/9-145(a): Each tract or lot of property shall be valued at 33 1/3% of
its fair cash value.
The good news
If you haven’t appealed (and won) recently, you’re likely due a reduction (perhaps
significant) in your assessment and therefore your property taxes.
The bad news
Your house likely isn’t worth what you (or the assessor) think it is. The graph to
the right says it all.
More bad news
Your assessor is trained in “mass appraisal” techniques. Therefore, their assessment
might or might not be the same as your property’s fair cash or market value.
Only a certified appraiser can say for sure.
This is especially true if your property hasn’t sold for awhile and/or hasn’t been
updated or is in need of some “TLC.”
The property tax appeal experts