We all know that with the recent dip in the housing market, housing prices all over the country have been lower — and Champaign-Urbana is no different. If you are a homeowner, it’s important to check out your real estate tax bill to make sure that the taxes you are paying reflect what has happened to property values in recent years. If you think the tax assessment are not correct, follow the instructions below from the County Assessor on how to review your current real estate tax bill. (These instructions apply specifically to Champaign County, but could be applied to almost any other county as well.)
There is a short window of opportunity to file complaints, which takes place every year between July 1 and September 10. Complaints brought after September 10 will not be processed. Here are some steps to take:
1. Look at the assessment you receive from the county. To make things easier, you can access it electronically.
2. Review your assessment for any inconsistencies. Does the purchase price or recent appraisal match the assessed value? Do you think the value of your home is lower based on recent sales in your neighborhood?
3. Taxpayers are strongly encouraged to discuss their real estate assessment with the township assessor prior to filing an assessment complaint with the Board of Review. Many times the reason for the assessment can be made clear or any errors in the property record card can be corrected through the local assessor’s office without filing an appeal before the board. Look on your assessment for the exact contact information for your specific house and township.
4. If you’re not able to remedy the assessment with the township assessor, you can file an assessment complaint with the Champaign County Board of Review.
5. Forms and instructions for filing a complaint can be found at http://www.co.champaign.il.us/BOR/borforms.htm. There are various types of “evidence” suggested, as well as other information.
6. Contact an attorney if you have questions regarding your particular situation.
Thank you to local mortgage professionals for providing this information.
Have you protested your real estate taxes?