Property taxes should not be this taxing!

If you own property in Chicago this is a must-read!

We have seen some wild increases in taxable values, with property assessments up between 20% and 325%! 2021 (the triennial) is the first time to challenge the newly assessed values. And, while you are at it, claim those forgotten exemptions (you can get a refund going back up to 3 years).

If these terms are a mystery you are in good company!

Your 2020 tax bill just hit your mailbox and perhaps you were pleasantly surprised at your tax bill? Unfortunately, the worst is yet to come. All Chicago properties will be reassessed in 2021, does the tax triennial sound a familiar term? I encourage you to contact our friends Matt Panush and Holly Zeilinga at Worsek & Vihon to best prepare for what is likely to be a significant hike in residential property tax bills.

The Dobbs Group has worked with Matt for over 15 years, helping to ensure our clients (hundreds of them) are paying only their fair share of property taxes. Matt and Holly will help you get a property value assessment that is as low as possible and aligned with similar properties in your area. They will make sure you are receiving any and all exemptions to which you’re entitled. And, with a successful 2021 appeal, your property’s assessed value should be lower for a three-year period (2021-2023).

And let’s not forget another way to reduce your monthly housing costs; with mortgage interest rates holding at a historically low number it is the ideal time to refinance your mortgage. Please contact Steve Pallotto, our mortgage specialist for the past 20+ years, at steve.pallotto@properrate.com or 708.473.8966 for an assessment of your mortgage terms and options to reduce your monthly payment.