Yesterday the Illinois Department of Revenue released the final 2020 Cook County equalization factor. The factor (sometimes referred to as the multiplier) for 2020 is 3.2234. The final factor in 2019 was 2.9160, which means the 2020 factor has increased […]
Category: Property Tax
Illinois General Assembly Approves Refund Recapture Levy for Certain Property Tax Refunds
June 1, 2021
Yesterday the Illinois General Assembly passed Senate Bill 508 (SB 508). SB 508 creates a new Section 18-233 in the Property Tax Code amending the Property Tax Extension Limitation Law (PTELL) to allow taxing districts to increase their extensions in […]
Cook County to Activate 2011 to 2014 Tax Rate Objections and Send Notices to Taxing Agencies Electronically
April 13, 2021
In the next few weeks, Cook County school districts and other taxing agencies will be receiving notices from the State’s Attorney’s Office that the tax rate objection complaints for the 2011 to 2014 tax years are being activated. For the […]
Illinois Department of Revenue Releases Tentative 2020 Cook County Equalization Factor
February 18, 2021
The Illinois Department of Revenue recently released the tentative 2020 Cook County equalization factor, also known as the multiplier. The preliminary factor is 3.0861. The ten-year history of preliminary and final equalization factors is summarized below. Tax Year Tentative Multiplier […]
The Illinois Appellate Court recently upheld a decision of the Illinois Property Tax Appeal Board (PTAB) involving the assessed value of a farm property owned by Edward Sims Jr. Trust (Trust) in Edward Sims Jr. Trust v. Henry County Board of […]
Illinois Appellate Court Again Sides with School Districts on Working Cash Fund Bond Tax Rate Objections
January 13, 2021
After a very difficult 2020, Illinois school districts received a well-deserved present on December 24 when the First District Illinois Appellate Court issued a decision rejecting a tax rate objection and upholding the legality of a property tax levy for […]
U.S. Supreme Court Denies Petition to Review Cook County Property Tax Assessment Litigation
November 19, 2020
As reported in Education Week, the U.S. Supreme Court has denied a petition to hear an appeal brought by the Cook County Treasurer’s Office, the Cook County Assessor’s Office and others challenging a 7th Circuit decision allowing Illinois federal courts […]
Recent Court Decisions on Assessments Highlight Lesser Known Property Tax Provisions
August 28, 2020
The Illinois Appellate Court recently issued two decisions involving property tax assessments, and each is noteworthy for a different reason. One is noteworthy because it focuses on the longstanding legal principle that a party challenging the assessed valuation of a […]