What 3 major developments within the last year may be increasing your real estate tax rates?
- Governor Rauner announced last month the decrease in state funding for municipalities. Cuts for towns like Barrington exceed $500,000, while smaller municipalities will lose up to $250,000.
- This is the first full budget year for Barrington High School’s new teachers’ contract increase.
- All non-Cook County assessors will be reviewing all properties and issuing new assessments pursuant to the State’s Quadrennial Reassessment mandate. New sales ratio studies reflecting the 2014 real estate market turnaround suggest increases in both land values and improvements.
How can you best stop increases in your real estate taxes?
The best way to obtain a reduction in your property’s assessment is through a timely appeal. Last year Kelleher & Buckley, LLC’s attorneys obtained up to a 40% reduction for commercial, industrial and office properties and up to a 35% reduction for residential properties.
Our attorneys are now assisting clients in preparing for 2015 assessment appeals. Please consider Kelleher & Buckley, LLC to review your property’s potential for significant savings. Our fees are based solely upon savings earned for you.