The equalization factor is a multiplier used to ensure that the total equalized value, or EAV, of real estate property in all Illinois counties equals 33 1/3 percent of the fair market value. This process is known as inter-county equalization. Each county is assigned its own equalization factor. The equalization factor does not cause taxes … Read More ›
Property owners in Cook County could be paying double property taxes due to something called PIN slamming. In some cases, homeowners might even owe back taxes on these hidden PINs.
How to Read a PIN
Each parcel of land that is taxed receives a property index number or PIN. The PIN is a 14-digit number, broken down … Read More ›
The Cook County Assessor’s office values commercial properties using several factors, including how many parcels a property contains, the location, the vacancy rates, and the property’s use. If a building owner doesn’t agree with the assessment, the property owner can appeal the assessment, which is the basis for the property taxes, to both the Assessor’s … Read More ›
“Smoke Alarms and Fire Prevention Systems in Illinois Community Associations” – KSN attorney Joshua Weinstein discusses legal updates impacting smoke alarms and fire prevention systems in Illinois condominium, homeowner (HOA), and townhome community associations. (9 mins.)
The KSN Podcast examines various aspects of association law, landlord/tenant issues, property tax appeals, and more.
In each episode, KSN … Read More ›