An Appealing Choice, Tax Assessment

It’s hard to believe but another tax assessment appeal season has almost come and gone. Although the majority of townships in McHenry County have deadlines that have already passed, Algonquin Township, one of the largest townships, is in full swing. Algonquin township consists of parts of Crystal Lake, Lake in the Hills, Algonquin, Cary, Fox River Grove, and Barrington. Algonquin has also experienced a very high number of tax assessment appeals over the last few years. If you live in Algonquin township and are interested in the tax appeal process, you must file the appeal by October 25, 2013. For residential property appeals, I have found that using the sales comparison approach is ideal. The real estate market in McHenry County has been on the decline for quite some time now, so sales of comparable properties tend to indicate a lower value than the assessments. Additionally, if you recently purchased your home or had it appraised, either can serve as great evidence for an appeal. If you own commercial property, an appraisal is typically the best route to go because commercial assessments tend to be more complex and the Board of Review requests more in-depth information.

Zanck, Coen, Wright and Saladin provides free consultations on property assessments, so if you’d like us to take a look at your 2013 assessed value, give us a call– (815) 459-8800. And, if you are in another township whose deadline has already passed, you can still have us take a look to see whether we think you might be a good candidate for an appeal next year


Posted by: Heather B. Kroencke