First get to read a bit on how the tax bill works for cook county taxes. If you read or you don’t care, let’s move on.
So we have a masonry, 50-year old house of 1000 sq.ft. sitting on 2,000 sq.ft of land which is valued by the County of Cook in, say, $100,000. This whole package is called Property (or parcel in legal terms).
We already figured that Estimated Assessed Value of your property, it equals 10,000 in our example. If you go to a sample house and have a look at EAV, you will notice that it has two Values: land and house/building itself. Let’s say, that Land is valued 2,000 and, what we will use further on, Building Assessed Value is 8,000 (remember it). Simple enough for now, right? Continue reading “How to fight the property taxes based on Lack of Uniformity”