SNN Mar-Apr 2004

Reassessed Real Estate Taxes

BY PAULA ARNETT

Every three years your property in Cook County is reassessed for taxation purposes.

If you have not yet learned the amount of your reassessment or proposed assessed valuation increase for 2003, go to www.cookcountyassessor.com, click on “Assessment Search,” then click on “Search for Residential Properties,” then click on “Click Here to Begin a Search.” Cook County Assessor’s Office Property Search will open; fill in your PIN (permanent index number) or your address. Then click on your PIN and another page will open “Property Search Results” that gives the description of your property according to the Cook County Assessor. In the middle of the page is the Assessed Valuation section showing Land, Building, Total. Divide the 2003 Assessor Certified Assessment Total by the 2002 Board of Review Certified Total to learn the proposed increase in your assessed valuation. Multiply that number by your 2002 tax bill to learn the potential for the amount of your 2003 tax bill (if the State Equalization Factor and the tax rate remained the same). You will see that your proposed increase far exceeds 7%.