Tax Payment and Assessment Calendar
Tax Payment Calendar
January or February of the Year after the Tax Year:
1st installment estimated tax bill issues in amount equal to 55% of prior year tax.
Fall of same year (date dependent upon completion of assessment & tax levy process)
2nd installment tax bill issues (in amount which reflects any change from prior year in assessment, state equalization factor and/or local tax rate).
Property Assessment Calendar
Subject Tax Year
Schmidt Salzman & Moran, Ltd. begins assembling data from its clients, consulting with appraisers, and conducting in-depth analysis of each of their clients’ properties in anticipation of the triennial assessment. In addition, the firm conducts that same in-depth analysis to obtain assessment reductions for clients’ properties deserving of tax relief in any triennial or non-triennial year, whether or not previous triennial relief was obtained.
Assessor begins reassessing values of properties in the subject triennial section of the County on a township-by-township basis and mails taxpayer’s notice of the proposed triennial assessment. There is a limited period of time given by the Assessor to file complaints, evidence and briefs contesting the valuations. (See Cook County Assessor’s Filing Date Schedule)
Clients send Schmidt Salzman & Moran, Ltd. reassessment notices, and the firm begins submitting complaints, evidence and briefs to the Assessor contesting the proposed valuations.
Board of Review begins accepting complaints contesting the Assessor’s valuations. (See Cook County Board of Review Filing Date Schedule)
Schmidt Salzman & Moran, Ltd. begins submitting complaints, evidence and briefs to Board of Review contesting Assessor’s proposed valuations.
Year Following Subject Tax Year
Schmidt Salzman & Moran, Ltd. continues to represent its clients before the Assessor and Board of Review with respect to Subject Tax Year and also begins its compilation of data, consultation with appraisers and in-depth analysis of clients’ properties in the next triennial reassessment section. (See Cook County Township Map)
Assessor completes reassessment for Subject Tax Year.
Board of Review completes its review of Assessor’s assessments for Subject Tax Year.
State equalizer and tax rates are determined. Tax bills are issued.