WGN-TV Show Notes — September 30, 2003

ANCHOR: IF YOU LIVE IN COOK COUNTY, THE SECOND HALF OF YOUR PROPERTY TAX BILL IS DUE OCTOBER 1, 2003.

ANCHOR: BUT THERE’S A LOT OF MISINFORMATION OUT THERE ABOUT WHAT YOU CAN AND CAN’T DO TO FIGHT YOUR PROPERTY TAXES. WGN’S MONEY-SAVING EXPERT ILYCE GLINK IS HERE TO SORT IT ALL OUT FOR US.

ILYCE: ROSEANNE AND LARRY, THE BIGGEST MISCONCEPTION BEFUDDLING COOK COUNTY RESIDENTS IS THEY THINK THE TAX BILL THAT’S DUE TOMORROW IS FOR THIS YEAR’S TAXES. BUT COOK COUNTY IS, I BELIEVE, THE ONLY COUNTY IN THE COUNTRY WHERE WE ACTUALLY PAY TAXES IN ARREARS.

TAXING HEADACHES “TAX BILL IS FOR LAST YEAR’S TAXES NOT THIS YEAR ” CANNOT APPEAL CURRENT TAX BILL – CAN APPEAL NEXT YEAR’S BILL

ILYCE: THAT IS, THE BILL IN YOUR HAND IS FOR LAST YEAR’S REAL ESTATE TAXES. PAYING IN ARREARS STARTED IN THE GREAT DEPRESSION WHEN NO ONE COULD AFFORD PROPERTY TAXES. ANOTHER MISCONCEPTION IS THAT YOU CAN STILL APPEAL THIS YEAR’S BILL. NOPE. YOU CANNOT APPEAL THE TAX BILL BECAUSE IT’S FOR LAST YEAR’S TAXES. IF YOU APPEAL NOW, YOU’RE ACTULLY APPEALING NEXT YEAR’S BILL.

ILYCE: ANOTHER MISCONCEPTION FLOATING AROUND IS THAT PROPERTY TAXES FALL UNDER THE ILLINOIS DEPARTMENT OF REVENUE’S “TAX-AMNESTY” PROGRAM. UNFORTUNATELY FOR ALL OF US, PROPERTY TAXES ARE COLLECTED BY THE COUNTY TREASURER, NOT STATE DEPARTMENT OF REVENUE. THE COOK COUNTY TREASURER IS MARIA PAPPAS, AND HER OFFICE ASSURES ME THAT THERE IS NO AMNESTY PROGRAM FOR PROPERTY TAXES. IN FACT, THERE ARE ONLY TWO WAYS TO LOWER YOUR PROPERTY TAXES:

TAX EXEMPTIONS “HOMEOWNER – SAVE $500” SENIOR CITIZEN – SAVE $250 “SENIOR CITIZEN FREEZE” HOME IMPROVEMENT” LONG-TIME HOMEOWNER EXEMPTION

ILYCE: THE FIRST IS TO TAKE ALL OF THE PROPERTY TAX EXEMPTIONS TO WHICH YOU ARE ENTITLED. EVERY HOMEOWNER CAN TAKE A HOMEOWNER’S EXEMPTION, WHICH WILL SAVE YOU $500 ON YOUR TAXES. SENIOR CITIZENS CAN SAVE AN ADDITIONAL $250. SENIOR CITIZENS WHO QUALIFY BASED ON INCOME CAN HAVE THEIR PROPERTY TAXES FROZEN AT THE LEVEL THEY WERE AT WHEN THE HOMEOWNER TURNED 65. YOU CAN MAKE UP TO $45,000 IN PROPERTY IMPROVEMENTS WITHOUT AN INCREASE IN TAXES FOR AT LEAST FOUR YEARS. AND FINALLY, IF YOU’VE LIVED IN YOUR HOME FOR AT LEAST 10 YEARS AND YOUR TAXES HAVE SKYROCKETED, YOU MAY BE ENTITLED TO AN ADDITIONAL EXEMPTION.

ILYCE: THE SECOND WAY TO LOWER YOUR PROPERTY TAXES IS TO APPEAL YOUR ASSESSMENT. THERE ARE THREE WAYS TO DO THIS:

APPEAL YOUR ASSESSMENT: ” OVERVALUED ” PROPERTY DESCRIPTION ERROR ” UNIFORMITY

ILYCE: YOU CAN APPEAL IF YOU FEEL THE ASSESSOR HAS OVERVALUED YOUR HOME. YOU CAN ALSO LOOK UP THE PROPERTY DESCRIPTION CARD AND SEE IF THERE ARE ANY ERRORS THAT MIGHT HAVE ERRONEOUSLY PUSHED UP YOUR ASSESSMENT. AND, YOU CAN APPEAL IF YOU FEEL THAT YOUR ASSESSMENT IF HIGHER THAN OTHER HOMES IN ITS TAX CLASS IN YOUR NEIGHBORHOOD.

ILYCE: YOU CAN GET HELP FILING AN APPEAL FROM THE COOK COUNTY ASSESSOR’S OFFICE, OR CHICAGO’S TAX ASSISTANCE CENTER. THE BOTTOM LINE IS . . . IF YOU HAVE A TAX BILL IN YOUR HAND TODAY, IT’S DUE TOMORROW. HERE’S WHAT WILL HAPPEN IF YOU DON’T PAY YOUR BILL:

IF YOU DON’T PAY: ” 1.5% INTEREST/MONTH ” TAXES SOLD ” 2 YEARS TO REDEEM ” LOSE PROPERTY

ILYCE: THE COOK COUNTY ASSESSOR WILL CHARGE YOU CREDIT CARD RATES ON YOUR TAX BILL, AT 1.5 PERCENT OR 18 PERCENT ON THE BALANCE OWED. IF YOU STILL DON’T PAY, YOUR TAXES WILL BE SOLD, PROBABLY NEXT MARCH OR APRIL. YOU’LL HAVE 2 YEARS TO REDEEM YOUR TAXES OR YOUR WILL LOSE YOUR PROPERTY.

PAY YOUR BILL: LASALLE BANK BRANCH WWW.COOKCOUNTYTREASURER.COM ANY BANK – $1 FEE

ILYCE: YOU SHOULD TRY TO PAY YOUR ENTIRE BILL, OR AT LEAST AS MUCH AS YOU CAN AFFORD. YOU CAN PAY YOUR BILL AT ANY OF 130 LASALLE BANK BRANCHES AROUND THE CHICAGO METRO AREA, OR GO TO THE TREASURER’S OFFICE OR GO ONLINE TO COOK COUNTY TREASURER.COM. OR, GO TO ANY BANK AND FOR A $1 FEE, THEY’LL AUTOMATICALLY TRANSFER PAYMENT FROM YOUR CHECKING ACCOUNT TO THE TREASURER’S OFFICE.

ILYCE: FOR THOSE OF YOU WITH COMPUTER ACCESS, I’VE PUT UP A LIST OF RESOURCES AND WEBSITES AT WGNTV.COM, WHERE YOU CAN LINK TO GLINK.

AMY MOWERY: RESOURCES

COOK COUNTY ASSESSOR – (312) 443-7550 WWW.COOKCOUNTYASSESSOR.COM

CITY OF CHICAGO WEBSITE WWW.CI.CHI.IL.US

CHICAGO TAX ASSISTANCE CENTER (312) 747-9723

Sept. 30, 2003.