Amari & Locallo e-letter
February 2015
Amari & Locallo
Chicago Office
734 N. Wells Street
Chicago, IL 60654
Amari & Locallo
Bloomingdale Office
236 W. Lake Street, Suite 100
Bloomingdale, IL 60108

Just some heads up....

Cook County



The due date for payment of the 2014 first installment is Tuesday March 3, 2015.


This bill is calculated based upon 55% of the previous year's total tax bill. The second installment should be mailed to taxpayers of record on or about July 1st 2015.  This bill may approximate the remaining 45% you will owe keeping in mind that new tax rates will adjust the total tax due.  Other influences on the second installment are reductions in assessments from appeals filed at the Assessor or Board of Review.  However, in reassessment years the total bill may be higher than the previous year's tax bill if there was an increase in the assessment and the reduction did not adjust to be lower than the previous year's assessment.



The deadline to submit Model Home Applications is April 30, 2014.  The Illinois Property Tax Code allows for a Model Home Exemption which keeps the assessment of a parcel the same as prior to the construction of the home.  Meaning, the parcel will be assessed as vacant land even if is a fully constructed home exists.


A model home can be a single-family house, a townhome or a condominium unit.  It cannot be occupied as a residence.  It must be used for the purposes of displaying a home for potential buyers.  The statue allows for the home to be furnished and even to be used as an office.  Developers are limited to having only 3 model homes within a 3 mile radius and there is a 10 year limit on the home.



Heading the list of City townships to be reassessed was Rogers Park.  Notices were sent to taxpayers of record on February 18th.  The deadline for filing appeals is March 20th and the deadline for submission of documents is March 30th.  This is the normal sequence for filing appeals at the Assessor's office.  They will first send a notice advising of the opening the township for an appeal and then set deadlines to first declare your appeal and another to give you time to support your appeal with documentation. 


Next on the list of townships to open is Lakeview, scheduled to open (send notices) on March 31st.  The filing dates for all townships can be seen on the Assessor's web site. 


Collar Counties (Will, DuPage, Lake, Kane, Kendall & McHenry) 


The Collar Counties have somewhat of a different approach to the payment of real estate taxes, appeals and reassessment times. 


Tax bills for the 2014 year will be mailed together in late April or early May 2015 with the first of two equal installments payable in June and the second installment in September.


There will be a reassessment of all property in every collar county during the 2015 calendar year.  The process is anticipated to begin in July. 


Over the past couple of years we saw a decline in values (assessments) and then a leveling off of the negative multipliers by township assessors.  The counties are now conducting their new three year studies of the market and we expect increase in values from 3% to 5% for the 2015 reassessment year.

About Our Law Firm 
The concentration of the Law Offices of Amari & Locallo, with offices in Chicago/Cook County and Bloomingdale/DuPage County, is representing commercial, industrial and multi-unit residential property owners throughout the State of Illinois. Our personnel have experience as county tax assessors, corporate tax managers, trial lawyers and real estate transaction attorneys, which contribute a unique insight into the negotiation and process of appealing real estate taxes. 


Our comprehensive knowledge of real estate tax laws 

and procedures enables us to effectively represent the interests of our clients throughout the State of Illinois.


For more information, please visit our website: 
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For additional resources and more information about the assessment process, visit our website!