So we got our assessment letter, and the Cook County Assessor’s Office thinks that the value of our home has increased by over 50% in the past three years. Which it hasn’t (it was probably quite undervalued on the last assessment, and is now somewhat overvalued).
So we’re going to appeal. I’d rather not pay a law firm a ton of money to do something I could do myself in less than an hour, so is it as simple as pointing out that all the comps they provided on the assessment letter are valued at around 1/3 less than our house? The comps are actually decently similar (close to the same age, square footage, # of bedrooms, all within a couple of blocks of us, etc.), but I can’t for the life of me figure out how the Assessor’s office can, with a straight face, essentially say “here are a bunch of houses that are almost exactly like yours, except we think you should pay 50% higher property taxes than they do, because we feel like it.”
Anything I should add? We bought the place a little over a year ago for about 10% less than they are valuing the house, but the other comparables are being assessed at about 30 - 35% less than we paid for the house. One option for an appeal is to include a recent bill of sale, but in this situation it doesn’t seem like it would be to our advantage because the other comps are valued so much lower than that.
Am I missing anything?
Yes, I know the whole system makes no sense if 90+ percent of people who appeal get their taxes reduced…sigh.