Real Estate Property Tax Assesments

Senate Bill 3334

If you tried to appeal your Real Estate Property Tax Assessed Value recently, you will have found that the tax assessor would not allow you to use any distressed properties (short sales or foreclosures), in the assessment process.  IAR supported Senate Bill 3334 to amend the Illinois Property Tax Code and include distressed property sales into property tax assessments. Senate Bill 3334 became law on July 16, 2010! This will now allow for a more complete and balanced picture of property values in a community. Property owners who seek to appeal their property taxes will be armed with the most accurate information available!