July 2022
LCA Monthly News & Updates
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Township blue assessment notices are tentatively scheduled to start being released next week. You still have time to fight for property tax justice® by signing up…See the sign-up section toward the bottom of this newsletter.
View the tentative publication dates by clicking the link below.
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What You Should Know About
Property Taxes In Your Neighborhood
Written By Jill Odzer,
Lake County Appeal, Commercial Analyst
So, you're thinking about buying a house in Lake County, and you've heard, or know, that the property taxes are high. You're right! But they vary from town to town and even neighborhood to neighborhood sometimes. As shown in the chart below, an owner of a $200,000 home in Volo would expect to pay $10,665 in property taxes (due to the highest tax rate in the county), but so would an owner of a $558,538 home in Lake Forest!
Are you wondering why the disparity is so high? It has everything to do with expenses within those communities…What is the city’s budget, since it directly impacts your tax bill? How much is spent on schools, pensions (i.e., pensions attributable to services provided, including education), etc.? The tax rates are generally the highest where the density of K—12 students per square mile is the highest.
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The Property Tax Bill Shock
Written By Ron Kingsley, LCA Tax Attorney and Owner
Many residential and commercial property owners were shocked by recent increases in property tax bills. One of the reasons for the increases is that many properties’ assessed values were raised because of the booming housing market, resulting in increases in property taxes owed. The other reason is the rampant inflation over the past year.
Property Tax Bill Mechanics
The assessed value of your property is based on the average sales price of comparable properties in your area over the preceding three years.
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PENSIONS MAKE ILLINOIS PROPERTY TAXES AMONG NATION’S MOST PAINFUL
By Orphe Divounguy, Bryce Hill, Joe Tabor
Since 1996, total property tax extensions in Illinois have increased 52 percent after adjusting for inflation. This increase took Illinoisans’ property tax burden from around the national average to among the highest of any state.
Over 6,000 local taxing districts are responsible for raising these property tax levies, including school districts, special districts, municipalities (cities, towns, and villages), and park districts.
Families across Illinois have felt the pain of these increases. But what many Illinoisans may not realize is that much of the rise in their property taxes can be attributed to spending on government-worker pensions far outpacing spending on state and local services.
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Monthly Happenings!
Summer Activities in Lake County
Enjoy a Sangria/Wine Pairing Dinner with a Mexican Theme! Friday, July 15, 2022,
at 6:30-8:30 p.m.
Visit Vernon Hills for four days of food, fun, carnival rides, free entertainment, and a huge beer tent. There will also be
children's activities, a petting zoo, a car show, fireworks, and live bands. Thursday, July 14, 2022 - Sunday, July 17, 2022.
Relive the classic tale of four unlikely friends on the adventure of a lifetime! Join Dorothy, the Cowardly Lion, Tin Man, Scarecrow (and little Toto too) as they journey down the yellow brick road to the magical Emerald City. Friday, July 8, 2022 - Sunday, August 7, 2022.
Join for an artists' reception and live music from Fox Crossing Stringband. Sunday, July 24, 2022, at 12-4:30 p.m. Volo Bog State Natural Area.
Every other Thursday, visit the Lincolnshire Corporate Center for Food Truck Lunch. Thursday, June 23, 2022 - Thursday, August 18, 2022, from 11 a.m.-1:30 p.m. Lincolnshire Corporate Center Parking Lot.
For More Lake County Events
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Home Improvements!
Tip Of The Month
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Seal up your home
“Using caulk to seal cracks and openings in your home is one of the most inexpensive ways you can save money on your utilities,” says Dave Quandt, vice president of field operations for American Home Shield. “It can also help improve your home’s air quality, prevent moisture problems, and prolong the life of your HVAC system.”
Shortcut: Pay particular attention to leaks around doors, windows, attic access panels, recessed ceiling lights, electrical outlets, and switch plates.
Call in the pros: Sealing and insulating air ducts can go a long way toward lowering your electricity bills.
“Air loss through ducts can lead to high electricity costs, accounting for nearly 30% of a cooling system’s energy consumption,” he says. He recommends calling in a professional to do the job, which costs $400 to $1,000—an expense that can easily be earned back with a hefty return on energy savings.
When the time comes to sell, the energy savings will be attractive to prospective buyers.
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Do you notice your
property taxes increasing
year after year?
If so, let us help you fight your assessed value. Our team of professionals is with you every step of the way.*
Start your journey to property tax justice today!
* (Please note that we can only file an appeal if evidence supports an appeal.)
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Hire us for your RapidReview℠ assessment review.
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Use online coupon code
2022FIGHT1 to save $5 when you sign up for a RapidReviewSM
assessment review.
OR
Go to our Facebook or Instagram page to find the coupon code in our Sign Up & Save Coupon post to Save $20!
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Watch for our township opening
e-blasts coming soon!
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Get Social With Us
Follow us on Facebook and Instagram to get all the latest information and coupon codes from Lake County Appeal.
Tell your friends and family they could benefit from a property tax reduction, and they too can receive special discounts!
"Share" us on Facebook and Instagram!
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Lake County Appeal,
Your Best Choice For Real Estate Tax Appeals Throughout Chicagoland!
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Lake County Appeal has helped homeowners and commercial property owners since 2007 and is the leading property tax appeal firm in Lake County!
Since 2007, we have won far more property tax appeals in Lake County than any other firm.
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