Lack of Uniformity
An owner’s house is exactly the same size, age and style as four of his neighbor’s houses, but he pays 25% more in taxes. This lack of uniformity is a sign that the property is being over-taxed.
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Greg Hilton
Attorney, CPA, MBA
Founder of Property Tax Solutions
Founder of Property Tax Solutions
February 2nd, 2023
A recent commercial property sale in the vicinity of O'Hare International Airport is instructive: that of The Hilton Rosemont.
A headline in The Real Deal deemed the Hong Kong investor who bought it as part of a portfolio deal in 2018 for $36.9 million "crushed" by the devaluation.
It fetched him $18 million from an executive of the locally based tech firm Vinakom.
But that's not the crazy part. Just months before the market spoke, the County had its analysts preparing its own opinion of value, for tax purposes, of our very same Hilton Rosemont.
Nevermind that the first sale occurred before Covid preyed on hotel business like a late-stage cancer. The County still pinned its value at $42 million.
Get this: the same happens with homes. We just saw a housing spike in 2021. The market proceeded to dip, continuing steadily into the present. If you live north of the city, the County just revalued your property for taxes and in many cases pinned your new assessment to the inflated market of 2021.
So, Check Your Savings. It only takes a few minutes and can save thousands in property taxes. Most parts of the County remain open for 2022 assessment challenges at the Board of Review.
Sign-up is fully digital and costs nothing up front. You only pay us if we win. We'll put our unparalleled experience, software, and convenient website to use to save you as much as possible.
Welcome
check your property tax savings
$2,084 Savings over 1 year
Due to Property Tax Solutions’ appeal
Greg Hilton
Attorney, CPA, MBA
Founder of Property Tax Solutions
Founder of Property Tax Solutions
February 2nd, 2023
A recent commercial property sale in the vicinity of O'Hare International Airport is instructive: that of The Hilton Rosemont.
A headline in The Real Deal deemed the Hong Kong investor who bought it as part of a portfolio deal in 2018 for $36.9 million "crushed" by the devaluation.
It fetched him $18 million from an executive of the locally based tech firm Vinakom.
But that's not the crazy part. Just months before the market spoke, the County had its analysts preparing its own opinion of value, for tax purposes, of our very same Hilton Rosemont.
Nevermind that the first sale occurred before Covid preyed on hotel business like a late-stage cancer. The County still pinned its value at $42 million.
Get this: the same happens with homes. We just saw a housing spike in 2021. The market proceeded to dip, continuing steadily into the present. If you live north of the city, the County just revalued your property for taxes and in many cases pinned your new assessment to the inflated market of 2021.
So, Check Your Savings. It only takes a few minutes and can save thousands in property taxes. Most parts of the County remain open for 2022 assessment challenges at the Board of Review.
Sign-up is fully digital and costs nothing up front. You only pay us if we win. We'll put our unparalleled experience, software, and convenient website to use to save you as much as possible.
Appeals with Savings
The properties below represent a few of the many tax reductions from the our appeals and the grounds on which they were based.
$25,335 Savings est. over 3 years
Due to Property Tax Solutions’ appeal
$25,335 Savings est. over 3 years
Due to Property Tax Solutions’ appeal
$4,168 Savings est. over 1 year
Due to Property Tax Solutions’ appeal
Over Valuation
A couple purchased a home for $300,000 in an arm’s-length transaction, but the Assessor estimated the market value at $360,000 - a full $60,000 above the actual price. This is a sign that the owners will be paying more than they should in taxes.
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$4,745 Savings est. over 3 years
Due to Property Tax Solutions’ appeal
Property Description Errors
A house is listed at 1700 square feet of living space, but the Assessor shows it at 1900. When the Assessor measurements show a higher square footage than actual, an owner is paying tax on more house than she owns.
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$4,745 Savings est. over 3 years
Due to Property Tax Solutions’ appeal
$47,166 Savings est. over 1 year
Due to Property Tax Solutions’ appeal
Uninhabitable
Properties that are uninhabitable while undergoing major reconstruction due to heavy winds, fire, massive flooding, building code violations or a full upgrade of the building are often deemed uninhabitable by the city. These are grounds for a tax reduction.
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$3,376 Savings est. over 1 year
Due to Property Tax Solutions’ appeal
Vacancy
If your rental building’s bottom line is being impacted by vacancies due to market conditions, code violations, renovations while undergoing major upgrades etc., you may be entitled to a tax break. Property Tax Solutions can help leverage strong supporting evidence to win an appeal for lowering taxes and leading to a quicker return to normal business operations.
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$3,376 Savings est. over 1 year
Due to Property Tax Solutions’ appeal
$40,026 Savings est. over 3 years
Due to Property Tax Solutions’ appeal
Income And Expense
The new Assessor is now requiring verifiable income and expense documentation on your business—whether it’s a manufacturing plant, retail shop, self-storage facility, restaurant or mixed-use residential building. Stay up on new developments.
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