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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.”

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The property tax appeal experts