When Darryl Lloyd received his property tax bill this year, which exceeded $30,000 and increased by a staggering 1,567% over the previous year’s $1,800, he was unprepared.
Lloyd’s modest 1950s Chicago Heights home was valued at over $1 million, according to an evaluation that served as the basis for the new bill.
Lloyd feels the house’s current market value is a little over $180,000, far from seven figures, even though he paid $115,000 for it in 2006. The house has three bedrooms and one bathroom.
“When I saw that increase, I was devastated,” Lloyd said to FOX 32 Chicago. “960 square feet is what I see. There isn’t a second story here. I don’t own a cellar.
After an injury, the diesel mechanic and safety inspector was dependent on disability benefits, and he wasn’t sure how he would pay for them.
He declared, “I’ll have to move in with a relative or something.” “I am unable to pay it.”
In Cook County, more than 4,400 houses have been improperly assessed and priced.
When Lloyd first tried to work with the Cook County Tax Assessor’s Office to fix the matter, he wasn’t given much credence.
“When I told them that my taxes had increased significantly, they said that everyone’s taxes had increased,” he recalled.
But once Lloyd contacted FOX 32 Chicago, the latter got in touch with the Assessor’s Office and found that, as Lloyd had alleged, the enormous tax amount was, in fact, an error.
An office representative said, “This property was given an incorrect assessment due to a permit that was unintentionally applied to the property.” “In the upcoming weeks, we will process an amended tax bill for this property, ensuring that the homeowner will ultimately pay the correct amount of property taxes.”
There are other homeowners in the neighborhood besides Lloyd who received an inaccurate property tax bill. In reality, according to research cited by FOX 32, the Assessor’s Office allegedly overvalued the property for over 4,400 properties in the south and southwest suburbs, resulting in significant overassessments for homes on bigger lots.
“If it occurred to me, it most likely occurred to others as well. Lloyd stated, “I’d like to see immediate action.”
Even while the value of many American homes has increased over time, homeowners may still encounter circumstances similar to Lloyd’s and receive an inaccurate tax bill.
To start with, it’s critical to comprehend how your town determines your property taxes so you can either double-check the calculations or get ready for an impending charge.
The current market value of your property, which is determined by an assessor when property values fluctuate, is normally used to compute these taxes together with your local tax rate. You could try looking at the website of your local tax office for a breakdown of this property tax calculation.
To find out if your tax bills are in line with other properties in your area, you can also investigate tax projections for those houses.
Remember to look for exemptions as well. Certain states and localities may provide tax assistance for individuals with disabilities, veterans, or older adults.
You can submit an appeal with your local tax office if you are certain that your property has not been appraised appropriately or that you have received an inaccurate tax bill.
Just bear in mind that you might need to engage a lawyer in addition to paying a minor filing fee to have your claim reviewed.
Additionally, there is no assurance that your case will be resolved quickly or that your fee will be reduced following a review. You also face the risk of your reviewer raising rather than lowering your assessment if they determine that it is too low. Therefore, before filing your appeal, be sure that you are not being overcharged.
